Ethereum Layer 2 Support on CYBAVO VAULT

Posted on Jul 29, 2021 | BLOG


CYBAVO VAULT’s most recent update introduces more support for the latest and most popular Ethereum Layer 2 solutions. Layer 2 solutions are designed to help scale applications on Ethereum by handling transactions off the mainnet, allowing for wider adoption rates and usage without sacrificing on the decentralized security model of the Ethereum mainnet.

The latest trends in cryptocurrency trends reflect this: chains developed by major cryptocurrency exchanges like Binance, Huobi, and OKex have seen a record volume of transactions. In addition, popular token-issuers on Ethereum like MATIC and others have also worked closely with DeFi brands to launch new products on their platforms, which have been received with great enthusiasm and are enjoying growing popularity.

CYBAVO’s VAULT already provides support for Polygon (MATIC) and BSC, which boasts smart contract functionality and is compatible with the Ethereum Virtual Machine (EVM). With its latest round of updates, it now supports even more Ethereum Layer 2 solutions, including Huobi’s Eco Chain (HECO), xDai Chain, OKExChain, and the newly launched Arbitrum (ARB) and Optimistic Ethereum (OP) chain. Customers of CYBAVO VAULT can be the first platforms to have this broad range of support for Ethereum Layer 2 solutions.

What is CYBAVO?

Crypto asset security firm CYBAVO is known for its array of services catered to businesses who require the most secure and easy-to-manage storage of their digital assets, including private key storage, crypto custody solutions, and enterprise management. Over the last year CYBAVO has rolled out a number of key new services such as Ethereum 2.0 staking, NFT custodial support, and insurance.

One of its top products, the CYBAVO VAULT, offers high-grade security features that customers can access for enterprise storage needs and wallet management demands across a wide range of digital assets.

In June 2021 CYBAVO was recognized as the best cybersecurity start-up project in the 2021 SelectUSA Summit, beating out fellow Taiwanese and Israeli competitors, thereby further elevating the industry-wide reputation of the expert team of cybersecurity specialists.