Press Release
Press Release Since the last product offering comparison with Fireblocks, Unido has now successfully launched the EP Self-Custody Multi Wallet with Multi Party Computation (MPC) Technology EP Self-Custody Multi-Wallet with MPC (Multi Party Computation) technology.
Unido EP is a complete decentralized private key management solution, packaged with a lightweight turnkey DApp (available on the Appstore and Google Play) and a web dashboard, making it a first to market.
Since Fireblocks is a competitor to Unido’s only true distributed key signing engine, we chose Fireblocks for this analysis again from a market positioning perspective.
Comparison of Fireblocks and Unido
Fireblocks was founded in 2018 as an end-to-end blockchain security platform to protect, store, and transfer digital assets to blockchain/s while using Multi-Party Computation (MPC) Fireblocks is an enterprise-grade solution that uses MPC &’s patent-pending chip isolation technology to protect private keys and allow customers to securely transfer assets between exchanges, custodians, and wallets. The system also uses API credentials, eliminating the need for a deposit address.
Unido’s parent company, PAC Blockchain {99} Digital Advisory (over 10 years ago), identified a crypto-custodial problem back in 2017 and began developing a multi-sig wallet that could be used on any blockchain.
Since then, Unido has produced a patented, enterprise-grade, secure digital asset platform built to process crypto transactions, allowing individuals and businesses to seamlessly manage on-chain assets. The platform includes a crypto banking suite with a business banking portal, customizable transaction workflows, security compliance controls, and access to DeFi vaults.
Both Unido and Fireblocks allow users of all types to easily access DeFi vaults, decentralized exchanges (such as Uniswap and Balancer), centralized exchanges, and distributed applications (dApps) within the crypto ecosystem The two companies will Both companies also offer unparalleled security, compliance, and workflow tools packaged to make it easier for individuals and businesses to enter the crypto market.
Market Positioning
The surge of companies entering the crypto economy after 2020 has fueled the continued growth of private investors (individuals and small businesses) following the interest of technology enthusiasts. btc
Fireblocks is a well-known name in cryptanalysis and no doubt has many prolific backers and VCs associated with its project. In a recent Series E funding round, the company raised $550 million from a group of investors co-lead by hedge funds D1 Capital Partners and Spark Capital, bringing the company’s enterprise valuation to over $8 billionand continuing the development of its digital asset platform We are.
Fireblock has established itself as the leading MPC solution for institutions and large enterprises with technology infrastructure requiring integration with MPC signature solutions.
However, Unido, given its highly scalable DApp and web dashboard, is positioned to serve a retail market in dire need of an enterprise-grade wallet solution. like Fireblocks solutions are financially and technically out of reach for this user base.
Unido recognizes that even individuals have a critical need for multiparty signatures and distributed private keys to prevent security breaches if a single device is compromised, or to ensure redundancy if a device is lost or destroyed. We offer multi-party signing. Multiparty signatures would also provide practical control sharing for these users in scenarios such as jointly owned assets in a domestic partnership, execution of a will or distribution of an estate.
Unido’s service is globally scalable, especially with respect to the less banked2ndand3rdcountries of the world, allowing customers to pay using Unido’s utility token $UDO, thus avoiding the need for traditional banking for wallet payments and operations services in parallel.
Early customer uptake of Unido EP has been impressive, with MoM320% growth in wallet activations in 4 months.
Finally
Fireblocks is one of the most well-known and used enterprise digital asset platforms available today. After their latest round of funding, Fireblocks is valued at $8 billion and has been very successful in attracting companies to their platform, with clients like Revolut, BNY Mellon, and many others.
The Unido team sees Fireblocks as an important example of a digital asset management solution with a similar approach, including MPC technology and regulatory compliance; while Fireblocks does not have a native token like $UDO, their corporate valuation and recent history of fundraising makes it one of the most formidable competitors in the custody and institutional crypto space.
From a valuation perspective, $UDO’s market cap is currently a fully diluted US$1.5 million ($0.013 as of September 26) and is considered small fry compared to Fireblocks. Unido is also greatly encouraged by Fireblocks’ valuation, as private equity firms value the important multi-billion dollar profitable key management solution because traders pay fees regardless of whether the market is bullish or bearish.
About Unido
Unido EP is a complete, ready-to-use cryptographic storage solution. Our platform allows individuals and businesses of all sizes to easily customize the management of their crypto assets. Our interface allows anyone to create a crypto wallet, share control with multiple users, and set a minimal set of authorizations for each transaction.
Unido EP comes with a web-based dashboard and distributed application (dApp). Our platform is poised to create a new standard for crypto asset security delivered into the hands of crypto users of all types. Join us now on our journey to transform crypto asset management.
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