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Bitpanda Announces Full Support For IOTA Wallet And Hub - IOTA News. Tuesday, October 2nd

02 october 2018, 22:16 by Jesús S. Affigne

Bitpanda announces full support for IOTA wallet and Hub

Withdrawals and deposits are now available for its users

Retail cryptocurrency exchange Bitpanda has recently announced it has added full support for IOTA wallets. The announcement was made via the exchange’s official Twitter account. “We’re happy to announce the full wallet integration of @iotatoken on Bitpanda! We worked closely with the #IOTA Foundation and Bitpanda is one of the first companies to use IOTA Hub,” reads the tweet.

According to their blog, the platform is not only adding withdrawals and deposit functionalities for the DAG’s coin, but also adopted IOTA Hub – a developer-friendly API created to facilitate integration of IOTA in exchanges, by offering a standardized, open-sourced solution to several issues, such as no double signing due to database constraints, seed management, confirmation and deposit address monitoring, and reattachment or repromotion of bundles.

Aditionally the new project by the IOTA Foundation supports externally signed transactions, meaning that the Hub is able to access the database, but not to the salt. This way, an attacker that is compromising only one system has no means to completely take over the funds stored in the exchange.

Head of Engineering at IOTA Foundation Edward Greve, said that they have a pleasant time working alongside Bitpanda, noting that the dev team was able to implement this technology with almost no help – a testament of how easy is to use the Hub, says Greve.

For his part, Christian Trummer, CTO and Co-Founder of Bitpanda commented on the experience the team behind the exchange had when working together with the IOTA foundation. “First we started on our own, but we soon decided that we want to switch to the official IOTA hub from the IOTA Foundation. With the integration of the IOTA hub we are prepared for future IOTA changes and updates.”

He also revealed that thanks to their collaboration, the aforementioned technology saw some optimizations that ultimately led to its production.

The blog stresses that Bitpanda has become one of the first companies that has fully adopted the IOTA Hub. As of yet, it has become the second exchange to make full use of this technology – the first one being South Korean major crypto exchange UPbit, announced on August 3, the same day the Hub was introduced by the foundation.

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