Coinbase Files for Patent to Secure Bitcoin Private Keys
Coinbase has filed a patent for a bitcoin host computer security system for private keys that it says addresses private key security concerns. The application, filed with the U.S. Patent & Trademark Office, noted a key ceremony application creates bundles that each contain a master key share. The master key shares each store a master key used for private key encryption during a checkout process. Existing systems do not maintain security over private bitcoin keys while allowing users to check out on a merchant page and make payments using their wallets, the application noted.....
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Bitcoin and ether exchange startup Coinbase is seeking a patent for a security system for bitcoin private keys. According to an application published on 24th November by the US Patent and Trademark Office (USPTO), Coinbase is aiming to patent a “security system forming part of a bitcoin host computer”. Coinbase submitted the application in May of last year, with software engineers Andrew Alness and James Hudon listed as inventors. The startup, which has raised more than $116m in venture capital to date, has sought other patents in the past. The last few months have seen a flurry of....
The San Francisco-based Bitcoin services Company, Coinbase has filed applications with the US Patent and Trademark Office (USPTO). The company has filled for nine Bitcoin-related applications with the US Patent and Trademark Office. Coinbase is filing for patents for the following applications: Hot wallet for holding Bitcoin. User Private Key Control. Bitcoin Private Key Splitting for Cold Storage. Instant Exchange. Personal Vault. Send Bitcoin to Email Address. Bitcoin Exchange. Tip Button. Off-Blockchain Transactions in combination with On-Blockchain transactions. And it seems that....
One of the bigger sayings on the bitcoin social forums is: "if you don't have the private keys, they're not your bitcoins." That's referring to third-party services that allow consumers to store their bitcoins online like Circle. But San Francisco-based Coinbase is looking to change things up with the introduction of a multisignature vault that allows users to manage their own private keys. Our new Multisig Vault gives the customer complete control of their own private keys. Coinbase has no ability to move funds (which means you are safe from Coinbase being hacked, going bankrupt, or....
Coinbase Vault, first revealed a few months ago, has now implemented a multisig feature that has been demanded far and wide by Coinbase's international customer base. In one fell swoop, Coinbase has set themselves apart from their competitor, Circle, in a big way. Today, Coinbase announced their Multisig Vault, which allows users to control their own private keys on Coinbase. This means that even in the event of Coinbase's untimely demise, bitcoins "stored" in the Coinbase multisig vault would still be accessible to the user. Users would be able to use open source tools, like this one, to....
Coinbase gets into trouble with another lawsuit of patent infringement, among its other legal issues. A blockchain-based fintech software company in New York, Varitaseum Capital LLC, sued the crypto exchange for infringing its patent transfer technology for several exchange services. Reggie Middleton, the founder of Veritaseum, filed the patent infringement case against Coinbase in Delaware […]