Inside Square's Stealth Approach to Bitcoin Integration
Square has indicated that it will send dollar payments from Coinbase bitcoin transactions directly to its merchants. San Francisco-based mobile point-of-sale (mPOS) giant Square sent a jolt of excitement through the bitcoin ecosystem when it announced that it would allow users to pay for goods and services with the digital currency via its online marketplace, Square Market. With a valuation of $5bn, Square is already a giant in the payments space despite its relative newcomer status. Founded in 2009, it's backed by millions in venture capital investment and a star executive, Twitter....
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Execoin (http://execoin.net), the fast ASIC-resistant crypto currency, proudly presents the first open-source Electrum wallet with stealth addresses technology! After months of intensive development, the Execoin team has released its own open-source implementation of stealth addresses technology based on the Electrum-EXE wallet (http://electrum-exe.org/stealth). Unlike proprietary closed-source stealth payment solutions currently available on the market, the Electrum-EXE code can be audited in order to make sure that there are no security vulnerabilities or intentional backdoors .....
When you first lay eyes on the DarkWallet, you know you're looking at something unique. For starters, it's literally dark-the background is jet black. But the color theme is just the beginning of what sets this new privacy tool apart from all other wallets. For starters, the DarkWallet offers something that no other crypto wallet has before: a stealth Bitcoin address. Because Bitcoin's ledger of ownership, the blockchain, is available for all to see, the current balance and the full transaction history of any address is totally public. If your Bitcoin address is publicly known, you have....
Square's adoption of Bitcoin could lead to Bitcoin use at Whole Foods and Starbucks. Although many Bitcoin enthusiasts have been looking for new merchants who are directly accepting the cryptocurrency in their local towns, it seems that a move from Square could end up being an even bigger deal. Square announced their integration with Bitcoin today on their blog, and they revealed a few details about how their new Bitcoin-enhanced system is going to work. Most online retailers are not going to notice much of a change, except for the fact that they could have a new crowd of Bitcoin customers....
Stealth payments are a technique for protecting the privacy of recipients in a Bitcoin Transaction. So-called "standard" transactions are pseudonymous. ECDSA key pairs abstract the identity of users. No mechanism exists to hide or encrypt standard transaction information in the block chain. With stealth payments the exception, full transaction history is available for every Bitcoin address. A service like Blockchain.info is able to calculate balances this way. Conceptualized for Bitcoin by Peter Todd, but first mentioned in ByteCoin, Stealth Transactions enable stealth payments. The data....
Execoin very recently launched their new lightweight wallet made with Electrum. The wallet supports a brand new feature of stealth transactions which gives users the option of privacy when receiving payments from other users. In addition to stealth payments, the new wallet also eliminates the need for making backups and is ready to be used within minutes of download as it connects to the blockchain remotely. Disclaimer: The Author has some holdings in Execoin. For security purposes, the wallet does not share privately generated keys with the server. I got a chance to do some testing with....