Coinbase Announces New Security Features
Popular bitcoin buying/selling powerhouse Coinbase announced on Tuesday the addition of some new features when it comes to user security on the site. The California-based company notes that they've made some improvements on the front of cold storage of user funds. Coinbase has implemented a "secret sharing" scheme to split the private keys to these offline funds and having them stored in geographically different places in vaults and security deposit boxes - preventing access to offline bitcoin storage from just one place. Think about it as if it were a missile. Not one, but two keys would....
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Coinbase is launching a new account that offers additional security features for storing large amounts of bitcoin. Called 'Vault', the new account was designed in response to demand for a more secure type of wallet from Coinbase's growing customer base of institutions and wealthy individuals, according to company CEO Brian Armstrong, who explained: "We are moving to a place where we are starting to offer more and more professional financial services that high net-worth individuals would really expect from their financial service providers." Enterprise features. Vault accounts include....
San Francisco-based Coinbase announced improved security with new API keys on Friday. A good number of users of Coinbase's services have previously experiencing issues with API keys, particularly theft of their funds - so the news is much-awaiting by those in the community. For starters, the company says users will now have access to multiple API keys, with separate permissions (including IP whitelisting). This means that no longer will users have to share one key between applications (especially if it had global permissions enabled, which increased the risk of something bad happening). In....
Coinbase has announced the addition of several new security features designed to make its cold storage business even safer. Over the past few months the company has spent time and resources implementing the new measures and increasing the percentage of coins held offline. Key Splitting, more cold storage. Coinbase is now using a new "key splitting" scheme - distributing shared pieces of security keys to safe deposit boxes and vaults around the world. This means that key holders are never located in the same geographical area. So, theoretically, there cannot be a "single point" of failure.....
Many people from the bitcoin community have expressed their concerns about Coinbase. Coinbase is probably one of the biggest bitcoin ventures if not the biggest. Having said that, is Coinbase becoming the bitcoin equivalent of PayPal? How damaging could that be to bitcoin's infrastructure? Coinbase does not have the features of a bitcoin wallet. As absurd as this might sound, sending and receiving bitcoin isn't everything important about a bitcoin wallet. Bitcoin wallets come with a variety of features that everyone can utilize. Being your own bank is an important point to have in mind.....
Cryptocurrency exchange Coinbase has announced its plan to go public via a direct listing of its Class A common stock. The post Coinbase Announces Intention To Go Public With Direct Listing appeared first on Bitcoin Magazine.