Lykke Exchange Announces Availability of Ethereum Cryptocurrency

Lykke, a blockchain-powered wallet and marketplace, has announced that Ethereum is now available on the Lykke Exchange.

Lykke users are now able to trade ether against all other tokens and currencies in the Lykke exchange. Lykke reports that its engineers are now working on tokens. By end of summer, Lykke says it will be an ERC20-token wallet and will be able to engage with all smart contracts on the Ethereum blockchain.

The addition of Ethereum is a natural step as the digital coin has experienced a dramatic rise as the base for many tokens. Lykke says that with the Bitcoin-based Open-Assets tokens Lykke has previously offered and now the addition of Ethereum-based tokens, Lykke will be able to offer more than 95% of all cryptographic tokens on the market.

As with all tokens on the Lykke Exchange, users hold their private keys in their own wallets. The exchange uses a multi-sig mechanism, which binds the customer’s ether to the exchange for trading purposes. A separate “private wallet” also holds ethers off the exchange. Lykke says a “cold storage” option is not available at this time.

 

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