Winklevoss Capital Invests in Vault12 That Offers ETH Rewards for Decentralized Backup of Crypto Assets

News
Thu, 10/31/2019 - 11:42
Yuri Molchan
Winklevoss Capital backs the Vault12 startup that has come up with a new crypto security solution, Twitter's Jack Dorsey invests in a token sales platform CoinList
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Contents

The founders of the Gemini crypto exchange and the Winklevoss capital, the crypto twins, Tyler and Cameron Winklevoss, have taken part in the fundraising of a crypto startup Vault12. It enables users to safely store their digital assets on individual networks composed of so-called Guardians.

Among investors are also True Ventures, the founder of AngelList, Naval Ravikant, etc.

Meanwhile, the Twitter CEO, Jack Dorsey has also invested in a crypto startup CoinList after refusing to join the Libra Association.

The new system offers rewards in Ethereum (ETH)

The new solution is based on individual networks that consist of relatives or friends with a high level of trust. They are called Guardians. They receive incentives in ETH to help support these micro networks to ensure secure storage of digital currencies. The creators believe their new system to be much safer than traditional online wallets, crypto exchange vaults or even hardware wallets.

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Another crypto startup funded by a famous crypto CEO

The founder of the Twitter social media giant Jack Dorsey has also turned towards investing in crypto platforms. Recently, he has funded the CoinList token sales company, taking part in an investment round that brought the firm a substantial $10 mln.

Dorsey has been anti-Libra, saying that the real cryptocurrency of the Internet is Bitcoin.

 

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

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