SUI Foundation teams up with BitGo to improve token management

02/17/2023 14:10 • AI Insights • 91 views

On February 17, the Sui Foundation announced that it had reached a cooperation with BitGo, a hosting service provider. In the future, the holders of SUI tokens will be able to manage or pledge tokens through the managed and unmanaged wallets on the BitGo platform.

Sui and BitGo, the hosting service provider, have reached a cooperation

Analysis based on this information:

The partnership between the SUI Foundation and BitGo is set to bring about improved token management for the holders of SUI tokens. On February 17, the SUI Foundation announced that it has entered a cooperation with BitGo, a hosting service provider that focuses on blockchain technology. The collaboration will enable SUI token holders to manage or pledge their tokens through managed and unmanaged wallets on the BitGo platform.

The use of blockchain technology has brought about an increase in the need for secure and efficient methods of managing digital assets. The collaboration between the SUI Foundation and BitGo is a move to address this need by providing SUI token holders with the opportunity to manage their tokens with greater ease and security.

Previously, managing tokens required a significant amount of technical skill, and in some cases, it was an outright challenge for inexperienced users. The new partnership will, however, make it easier for SUI token holders to manage and pledge their tokens on the BitGo platform, without the need for any technical knowledge.

Managed wallets provide users with the ability to entrust their digital assets to a third-party service provider, while still retaining access and control over it. In contrast, unmanaged wallets give users complete control over their digital assets, but with the added responsibility of ensuring that the tokens are securely stored.

With this partnership, SUI token holders will have access to both managed and unmanaged wallets, which will give them the flexibility and security needed to manage their tokens effectively. The use of BitGo’s platform ensures that the tokens are stored in a secure environment, minimizing the risk of loss or theft.

In conclusion, the partnership between the SUI Foundation and BitGo is a significant development and marks a move towards greater accessibility and security in the management of SUI tokens. The introduction of managed and unmanaged wallets provide SUI token holders with a range of options to manage their tokens, while ensuring that their digital assets remain secure.

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SUI Foundation teams up with BitGo to improve token management

Sui and BitGo, the hosting service provider, have reached a cooperation

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