'Cosign' Wallet Streamlines Multisignature Transactions, Enhances Security
BitPay's BitCore development team is working on a new project that it claims will be "the most secure wallet in the world". Dubbed Cosign, the wallet is being developed to allow streamlined multisignature transactions that will add much needed security to bitcoin storage technology. The idea behind multisignature wallets is a simple one - transactions must be authenticated by more than one person to confirm that they are valid, hence boosting security. However, this does add another level of complexity to the process. Now, though, the Bitcore team thinks it has cracked that problem with a....
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One of the hot topics in the bitcoin community lately has been multisignature transactions. Put simply, what this does is provide several private keys for a bitcoin address, which serves as an additional security measure (if you're unfamiliar, read this). The folks at BitPay, who are hard at work on their Bitcore project, have announce they have a multisignature wallet in the works. Dubbed Cosign, the wallet will make spending multisig bitcoins just as simple as it is to spend from a single-signature address by having other people or computers "sign" transaction to confirm they are valid.....
The Bitcore team has been developingCosign: A Multisignature Wallet. This technology would provide additional layers of security to protect Bitcoins. This wallet would allow for a multi-signature wallet to validate all transactions before they are sent, thus significantly reducing theft that occurs within businesses that deal with digital currencies. Let's say we have a 5 signature wallet, one person can spend the Bitcoins like normal; however, the transaction will appear as partially signed and not be broadcast to the Bitcoin network unless it is signed by 3 of the co-signers of the....
There has been quite a lot of buzz surrounding multisig (multisignature) and bitcoin. But what exactly is it? Many think it's the future of bitcoin, and for a good reason. In short, multisignature transactions are unique in that they allow for more than one private key to control a wallet address. At present, most users deal with one public address, and one public. The issue with that is that it becomes incredibly easy to lose access to funds should the private key become compromised. As put by BitPay today on the BitCore blog: In a 2-of-2 multisignature transaction, a private key from....
Counterparty, a free and open source platform offering powerful P2P financial tools, recently announced its successful implementation of multisignature addresses. According to the information available on its blog, Counterparty has decided to release this feature upon reaching the block 333,500. Alongside the multisignature address feature, the company is also planning to offer free custom tokens. Earlier, it used to charge 0.5 XCP for the same. What are Multisignature Addresses? Multisignature addresses is an additional layer of security for ones' cryptocurrency wallets. In normal cases,....
Fully securing our cryptocurrencies in a trustless manner has consistently been an ever-present problem. FrozenBit aims to solve this as the first open source multisignature / multicoin wallet via a trustless approach; with support to include Bitcoin, Litecoin, Dogecoin, Quarkcoin and Blackcoin. Moreover, they are attaining to do so by way of end-user simplicity. The driving motivation behind FrozenBit is to create a wallet that has all the conveniences of a hot wallet, while at the same time providing the security of a cold storage wallet. Calvin (FrozenBit Project Lead), summed it up....