In its most recent Spartan Wallet upgrade, RBX Network introduced an on-chain security feature suite called “RBX Reserve Accounts.” With its on-chain Recovery and Callback capabilities, this cutting-edge in-wallet native account gives users new levels of self-sovereignty and self-custody.
For the first time in blockchain history, RBX Reserve Accounts provides complete security against theft, hacking, and unintentional transfers of user funds and all digital assets upon activation by the user. These assets are kept apart from the RBX instant settlement addresses.
These strong on-chain features completely secure and recover the funds and digital assets kept in the user’s RBX core-wallet’s on-chain “safe deposit box” vault. The security of a cold storage feature is now available in a hot wallet, and users have the additional benefit of being able to retrieve any lost money or digital assets within 24 hours of any possible incident. They may completely restore the assets to a new location that is only known to them by providing their individually created password and recovery code.
Additionally, this ground-breaking native functionality enables peer-to-peer on-chain escrow transactions and turns on unintentional transfer safeguards using a simple callback function. By enabling completely automated Self-Executing NFTs (SENs), the escrow-send function enables real on-chain peer-to-peer outcomes based on user-generated smart contract parameters. As a result, tokenization will go even further inside the distinctive RBX open-source and completely decentralized ecosystem.
Due to the complete on-chain nature of callback and recovery capabilities, all peers always remain fully aware of their present status. Users of the Reserve Account Suite may expect future development of these built-in functionalities, with upgrades planned for both the web wallet and the RBX core wallets. These capabilities will also help most users who now struggle with self-sovereignty and self-custody by offering native security and protection without the need for external tools or apps.
Additionally, the RBX Spartan Wallet upgrade permitted peer-to-peer NFT sales without the need for an auction house and increased file upload speeds by improving the Beacon System. Moreover, it offers the capability of producing verification signatures as evidence of asset ownership. A number of wallet quality-of-life enhancements and new API query methods are also included in this release. Reserve Accounts are anticipated to be included in web wallets in the next weeks.
