BitGo Startup Has New Zcash (ZEC) Digital Coin In Its Wallet
The BitGo Blockchain security-focused crypto company headquartered in Palo Alto, California, announced on Wednesday has introduced that the Zcash (ZEC) digital coin to its wallet. Zcash is a cryptocurrency aimed at using cryptography to provide enhanced privacy for its users compared to other cryptocurrencies such as Bitcoin
Zcash is the seventh virtual currency that is available for the BitGo wallet after Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), Litecoin (LTC) and Bitcoin Gold (BTG).
BitGo aims at institutional and corporate investors with immediate wallets with three keys. The first key is held by the company, second one is held by the clients, and the third one is held by a third-party (according to the agreement and authorization of the user). The above mentioned is so-called Key Recovery Service (KRS) which dispenses xpubs (Bitcoin public keys) to anyone who requests one for use as a cold key in multisig wallets. Any operation on a BitGo wallet needs two signatures, which actually must be put by BitGo and by the client. The company states that it will never co-sign any operation which can require double expenses.