Israeli blockchain tech programmer Kirobo is launching a decentralized P2P token swap solution.

Co-ordinate to the company the protocol, dubbed "Atomic Condom Swap," offers a decentralized peer-to-peer trading alternative to centralized market exchanges or over-the-counter (OTC) desks, and is set to launch on July 27. The service is built on Ethereum and supports Ether (ETH) and ERC-20 tokens.

Diminutive Prophylactic Bandy is an extension of the firm'south retrievable transfer solution,"Undo Button" which enables users to abolish and recall crypto transactions.

The Undo Button provides an hallmark key that the receiving political party must enter for the transaction to exist fulfilled. The sender can abolish the trade and call up their funds if the receiver hasn't yet entered the authentication central.

Users can currently connect Ledger and Trezor wallets on the firm's website to use the service, and information technology is compatible with Bitcoin (BTC) forth with ETH and ERC-20 tokens.

In an announcement Kirobo noted that with the Atomic Safe Swap "the process is the same, except the end transaction, is a ii-manner transfer executed by smart contract," and the firm is touting that their solution will exist a cheaper alternative to exchanges and OTC parties, forth with being free from "run a risk of error and fraud."

Related: CoinMarketCap launches Ethereum token swaps powered by Uniswap

Disengage Push button

Asaf Naim, Kirobo co-founder and CEO of Kirobo highlighted the importance of having a secure not-custodial authentication mechanism not only to fight malware attacks but also to protect people from homo error — a primal issue in crypto.

A tiny mistake in inbound a wallet accost can issue in funds being sent to the incorrect accost and potentially lost forever. A mutual method used to combat this has been to conduct a pocket-sized test transaction so that a sender can verify if they have sent funds to the correct address with minimal financial risk.

Naim told Cointelegraph that the Disengage Button negates the need for exam transactions. According to the firm, $i.5 billion worth of crypto transactions have been conducted using the Disengage button so far, with the solution helping users retrieve more than $six million via canceled transactions. Naim said:

"The terminate result is that even inexperienced users can at present feel comfortable engaging in activities that were previously complex, expensive, and risky. Nosotros wait this service to encourage adoption and use of cryptocurrency, giving a real boost to the ecosystem for years to come up."

Naim kept his cards close to his chest regarding future announcements but teased that the firm is looking to integrate Undo Button with other blockchain platforms and exchanges, along with expanding back up to other cryptocurrencies.

Without revealing too much, Naim besides noted that some other key issue in crypto that the house may be looking at providing a solution for is "losing access to wallets," including finding a way to retrieve funds in instances where a crypto hodler of the family unit passes away.

"I think that if yous lost admission to your wallet and you lot've lost access to your money. I think this is something that has to be dealt with, " he said.