Reef Finance announces partnership with Shield Protocol
Shield Protocol has developed the first 2FA app on blockchain, as a second layer security platform based on the Binance Smart Chain. This allows users to back up their 2FA (Two Factor Authentication) accounts on different blockchain networks, instead of centralized servers like those provided by Amazon, Microsoft Azure, and Google. Shield Protocol’s app is compatible with Binance, Twitter, Facebook, Gmail, Amazon, and a host of other websites which provide 2FA security.
Shield Protocol’s iOS and Android mobile apps have been downloaded by 30,000+ users, and are used by 15,000+ monthly active users.
Reef Finance has developed Reef Chain, a blockchain network developed on Substrate and customized for DeFi applications of the future. Canary, the first version of the Reef Chain Mainnet, has already been deployed after a successful Testnet evaluation.
The company, Reef Finance, was created with a vision to make DeFi easy and profitable for everyone, even investors with zero technical knowledge about blockchain or DeFi protocols. Reef is the world’s first cross-chain DeFi operating system which aggregates liquidity from both centralized and decentralized sources and provides users with various baskets of DeFi products. Through the Reef platform, investors can experience the easiest point of entry and the best investment opportunities from the entire DeFi landscape.
The partnership between Reef Finance and Shield Protocol will bring the first 2FA application on Reef Chain. Shield’s app supports a 4-tier strong encryption layer to backup secrets on multiple blockchains. Users who have their 2FA activated on crypto exchanges like Binance, Huobi, Gate.io, or any other website which supports 2FA security, will now be able to safely back up their codes on Reef Chain.
Developed on the Substrate framework, Reef Chain provides world-class features like enhanced security, high scalability, and fast finality with extremely low transaction fees. Through the Shield app, users will now be able to access these enhanced features and enjoy a seamless experience while saving and retrieving their 2FA codes, coupled with the superior security that decentralized technology provides over centralized systems.
The Shield Protocol app also supports a secure crypto wallet that lists only whitelisted assets. With this partnership, the app will also integrate the Reef Chain wallet, allowing Reef users and $REEF holders to easily and securely send, store and receive $REEF tokens.
Denko Mancheski, CEO of Reef Finance, said about the partnership, “Although Reef Chain has been customized for the DeFi applications of tomorrow, we are open to partnering with other projects which can use our blockchain for innovative applications. Shield is the first blockchain-based 2FA app and is taking up the fight against centralized giants. We are glad to partner with them, and are confident that Reef Chain’s advanced features will enhance the value of their 2FA app.”
About Shield Protocol
Shield Protocol has developed the first 2FA app on blockchain technology and promises the most advanced daily use security tool to secure online account credentials on blockchain. Shield Protocol is targeting 4 billion+ internet users who have online accounts on various websites which support 2FA, be it social accounts, trading accounts, or banking accounts. Shield’s app also comes with a secure crypto wallet and is used by more than 15,000 monthly active users.
About Reef Finance
Reef Finance Reef Finance is building Reef Chain, a DeFi blockchain built using Substrate Framework. Reef Chain provides high scalability, enabling almost instant low-cost transactions, and supports Solidity and EVM, allowing developers to seamlessly migrate their DApps from Ethereum without any change in the codebase. Our vision is to make DeFi easy for everyone to invest in and build DeFi applications on top of Reef Chain.
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