Cryptocurrency exchange Lykke has integrated Ethereum, which can now be found in all Lykke wallets available for trade. Users will soon be able to trade Ether against all other tokens and currencies in the Lykke exchange.
Lykke also revealed that its engineers are now working so that by the end of summer, Lykke will be an ERC20-token wallet and will be able to engage with all smart contracts on the Ethereum blockchain.
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“This is a big accomplishment for the Lykke team,” said Richard Olsen, CEO of Lykke. “With the integration of the Ethereum blockchain, we will bring to our platform a new dimension of trading.”
Ethereum has seen a dramatic rise and acceptance as the base currency for most tokens, the company reports. With the Bitcoin-based Open-Assets tokens that Lykke offered previously and now with the addition of Ethereum-based tokens, Lykke will be able to offer more than 95 percent of all cryptographic tokens on the market.
As with all tokens on the Lykke Exchange, users hold their private keys in their own wallets. The exchange uses a multi-sig mechanism, which binds the customer’s ether to the exchange for trading purposes. A separate ‘private wallet’ also holds ethers off the exchange. A ‘cold storage’ option is not available at this time.
Lykke recently made its open-source platform and apps available to be integrated with existing third-party products. The Lykke Accelerator service provides custom integration of Lykke’s apps and trading platform to existing products, turn-key wallets and digital products to exchange.