Bitcoin wallet app startup Abra announced today that it would add support for Ethereum.
The decision to integrate the second most significant digital currency in the world in terms of market capitalization was unveiled in New York at the Consensus: Invest event. Bill Barhydt, founder, and former Netscape director revealed that the functionality of Ethereum would be released within the week together with additional Bitcoin options and tons of government-issued currencies.
Aside from Ethereum, Abra is also beefing up the capacity of the wallet app storage to enable users to store several currencies at a given time.
Barhydt spelled out that a user can store entry to Ethereum and keep three different wallets at the same time to hold dollars, Bitcoin, and Ethereum at once. The former Netscape director added that this is potentially the first attempt to make this possible in a non-custodial wallet.
In 2015, the wallet app developer came out of stealth mode and yielded $12 million Series A funding round that fall. Now, it is moving to enhance support for multi-signature transactions.
Presently, Abra carries a single signature model in which a user signs transactions using their associated private key. Through the use of a “two-of-two” multi-sig wallet, both the user and the app would be able to perform deals before they are broadcast.
Abra is expected to invest on this feature later next year by including a “two-of-three” model supported by a third-party oracle that can sign in the place of the user or Abra.
Barhydt concluded that the project is in response to the demand of the customers to enhance the Abra app. He ended assuring the users that they are excited to answer their needs.