World’s first adaptive currency ndau is adding a dynamic recourse period to transactions on its digital network.
Isle of Man, March 25, 2021 (GLOBE NEWSWIRE) — Ndau announced the addition of a dynamic recourse period to transactions made on its adaptive digital currency network. The feature plays along with in-wallet staking and multisig in reinforcing ndau’s role as a store of value and premier DeFi solution.
As explained by the ndau team, holders will now have the option of setting the amount of time it takes for a transaction to be approved. The default is set to one hour but users can choose to extend the recourse period up to a limit defined by ndau’s Blockchain Policy Council or eliminate it altogether.
The inclusion of a recourse period is an important security improvement. Creating a window of time where the transaction is “pending” allows users to prevent fraudulent activity by detecting it on time. This feature can be very helpful to both centralized and decentralized exchanges as well as the many DeFi applications that can integrate with ndau on the Cosmos Network. Such services are the primary targets of exploits, hacks, and other activity by bad actors.
“We’re excited to include a feature that I’m sure individual users as well as our partners in DeFi will appreciate. We believe security is essential to the development of the space and want to do our part.” – John Lester, Head of Product Management at ndau developer Oneiro.
Ndau’s implementation of a recourse period might also be welcomed by institutional investors who are joining the space and are used to the checks and balances of traditional finance. More so, having access to tools for fraud prevention that are customizable is another way in which blockchain networks like ndau continue to add value.
NDAU is an adaptive digital currency built by Oneiro to optimize for long-term store of value and supported by a decentralized ecosystem. It is built on the Tendermint protocol and is a premier DeFi solution on Cosmos Network. Designed with built-in economic structures that incentivize both stability and potential for growth, ndau provides all the benefits of a digital currency while promoting more fair and accountable governance, dependability, and greater safety for owners not found in existing cryptocurrencies. Ndau is not pegged to fiat currencies or commodities, allowing for more desirable characteristics for long-term holders in particular.