How El Salvador Is Fixing Chivo Wallet, Trying To Get Bitcoin Adoption Back O...

How El Salvador Is Fixing Chivo Wallet, Trying To Get Bitcoin Adoption Back O...

El Salvador tapped crypto software firm AlphaPoint to fix numerous problems with its state Chivo wallet and help citizens adopt Bitcoin.When Bitcoin became legal tender in El Salvador, thousands of keen Salvadorans awaited to download the country’s government-furnished Bitcoin wallet, Chivo. However, within hours, it became clear that the hyperbitcoinization process would not be painless, as users experienced download delays, challenges in the identity verification process and problems transacting over the Lightning Network with Chivo. Chivo’s challenges became even more pronounced as El....


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El Salvador relaunches Chivo wallet, plans to deploy 1,500 Bitcoin ATMs

Seeking a permanent solution for over 4 million BTC users, the government of El Salvador focuses on Chivo wallet’s stability and uptime, scalability and social impact. El Salvador, the first country to adopt Bitcoin (BTC) as a legal tender, has relaunched its in-house Chivo wallet to address the existing challenges of BTC transfers locally. With AlphaPoint integration, the updated Chivo wallet is expected to carry out instantaneous low-fee Bitcoin transactions while fixing concerns related to stability and scalability.Within the first month of establishing BTC as a legal tender, President....