RINO, an enterprise-focused Monero Wallet, has recently launched a free Community Edition that allows everyone to benefit from some of RINO’s unique features.
The lack of professional tools and custody options has been a major obstacle to the business adoption of Monero. Other digital assets and coins have long benefited from a range of highly secure custody services offered by companies such as Bitgo, Fireblocks, and Copper. The RINO team wanted to address this shortcoming and enable the next growth phase of the Monero ecosystem. RINO’s first product is a feature-rich non-custodial wallet targeted at the enterprise. With the launch of the Community Edition, some of the core features of the RINO enterprise platform are now being offered to the wider Monero community for free.
All Monero users can now benefit from RINO’s highly secured 2FA authentication. Unlike other wallets, RINO guarantees the safety of the funds even if the wallet password is compromised.
With the Community Edition, users can access their wallets from any device. Wallets are always instantly synchronized without any waiting time upon connection. Sync happens even when users are away from their phone or laptop – they can even disconnect from their wallets completely and still receive a notification for each incoming transaction. With RINO’s integrated exchanges, one can also buy and sell XMR directly from the wallet (crypto-crypto is available now, and fiat is coming soon) at competitive rates.
RINO’s self-custody wallet is powered by multi-signature cryptography, following a 2-out-of-3 setup. The owner of a RINO wallet controls two of the three keys; the RINO platform controls the last key. Two out of three keys are needed to access funds, so RINO can never steal or spend its customers’ money. In daily use, a wallet owner uses one of their two keys to initiate transactions, with RINO acting as a controlling authority to add additional levels of security (e.g., requiring 2FA) and only co-signing transactions according to pre-agreed constraints and security policies. The last key is the owner’s “recovery key”, which should be kept in cold storage. Hence, should a wallet owner ever decide to discontinue their relationship with RINO, they can spend their funds without interacting with RINO at all.
The RINO team has been involved with Monero for many years and is excited to be an integral part of Monero’s next growth phase.
RINO was launched by serial crypto entrepreneurs whose hearts and minds have been with Monero since its inception. Having run Monero services themselves for many years, they recognised major shortcomings in the Monero ecosystem and decided to do something about it. RINO’s mission is to bring world-class professional tools to the Monero ecosystem and enable the next phase of Monero’s growth.