Multisig Wallet Security on the Rise, Protecting 13% of Bitcoin Today

Multisig Wallet Security on the Rise, Protecting 13% of Bitcoin Today

Today, 13% of Bitcoin is protected by multisig technology. A growing minority of Bitcoin users employ a multi-signature wallet, which uses more than one private key to access the wallet. By using this approach, wallets are much less vulnerable to security breaches, as no single party possesses all the information necessary to decrypt the wallet. Princeton professor Arvind Narayanan tweeted about the significance of the multisig uptick: More cryptocurrency wallets offering multisig support. More Bitcoin wallet providers have recently enabled multisig functionality, as it seems to be headed....

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What's Next for Bitcoin Wallet Security?

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BTChip Launches Multi-Signature USB Bitcoin Wallet

BTChip has now merged with Ledger. BTChip and GreenAddress have teamed up to launch a USB bitcoin hardware wallet designed to offer multi-signature security on a budget. Named HW.1, the smartcard-based USB wallet was created by BTChip with security and user experience in mind. The device features multi-signature functionality provided by bitcoin wallet GreenAddress. BTChip founder Nicolas Bacca said the device should appeal to users frustrated with the bitcoin wallets' current security policies, saying: "We're pleased to be the first company to bring affordable banking grade security,....