Review on TenX by Olugbenga Ajayi
Tenx wallet for crosschain transaction
Blockchain technology has given rise to the Implementation and development of of payment based solutions.
Tenx wallet is a huge solution to the problem of having to have many digital wallets and many cryptocurrency debit cards because you have digital assets which belong to different network.
With Tenx wallet one can spend such digital assets with ease and conveniently. This is because Tenx wallet work side by side with Tenx debit card which is connected to cryptographically secured off chain multi-asset instant transaction protocol(COMIT). With this protocol many cryptocurrencies from different blockchain could interoperate and be spent as if they were from same network. As a result of this all transactions on Tenx wallet does not incur exchange fee.
In terms of security, it uses 2 factors authentications, users Private keys which is fully in the control of the user it also uses fingerprint lock for client based security.
The wallet supports Bitcoin, litecoin and ethereum and any other cryptocurrency that meets the requirements of the COMIT specifications.
Pros
- It facilitate ease of spending of digital asset anywhere anytime across the globe
- It uses multifacet security system including 2 factor authentication, fingerprint lock etc
- It is available for use on mobile devices
- It does not charge conversion fees or exchange fees
- A wallet app that is open source
- Uses multisignature feature to double authenticate transaction
Cons
- Does not support Windows, Macs and Linux OS since it is only for mobile platforms
- Even though it doesn't charge conversion or exchange fee, the charges on virtual/physical card, issuance fee and many other fees could that of other wallets
- Interoperability with other blockchain could create problems like security breach or congestion on the network
