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In its latest upgrade of the Spartan Wallet, RBX Network has unveiled an on-chain security feature suite known as “RBX Reserve Accounts.” With its on-chain Recovery and Callback functionalities, this innovative native account enhances user autonomy and self-custody.
For the first time in the realm of blockchain, RBX Reserve Accounts offers total protection against theft, hacking, and accidental transfers of user funds and all digital assets once activated by the user. These assets are stored separately from the RBX instant settlement addresses.
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These robust on-chain features ensure the complete safety and recovery of the funds and digital assets stored in the user’s RBX core-wallet’s on-chain “safe deposit box” vault. The security typically associated with cold storage is now accessible within a hot wallet, and users benefit from the ability to recover any lost funds or digital assets within 24 hours of any incident. They can fully restore the assets to a new location known exclusively to them by entering their uniquely generated password and recovery code.
Furthermore, this pioneering native functionality facilitates peer-to-peer on-chain escrow transactions and activates safeguards against unintentional transfers through a straightforward callback function. By enabling fully automated Self-Executing NFTs (SENs), the escrow-send function supports genuine on-chain peer-to-peer outcomes based on user-defined smart contract parameters. Consequently, tokenization will advance even further within the distinctive RBX open-source and entirely decentralized ecosystem.
Thanks to the fully on-chain nature of callback and recovery features, all peers are consistently aware of their current status. Users of the Reserve Account Suite can anticipate future enhancements of these built-in functionalities, with updates scheduled for both the web wallet and the RBX core wallets. These features will also assist many users who currently face challenges with self-sovereignty and self-custody by providing native security and protection without relying on external tools or applications.
Additionally, the RBX Spartan Wallet upgrade has enabled peer-to-peer NFT sales without requiring an auction house and has improved file upload speeds by enhancing the Beacon System. Furthermore, it provides the ability to generate verification signatures as proof of asset ownership. This release also includes various wallet quality-of-life improvements and new API query methods. Reserve Accounts are expected to be integrated into web wallets in the upcoming weeks.
