FREMONT, CA: BlockTrail, provider of bitcoin infrastructure, launches multi platform bitcoin wallet, which implements multi signature and HD wallet reports Natasha Lomas for TechCrunch. It is available for iOS, Android and web devices. This new wallet will be decentralized, allowing users to create and store their own private keys.
The wallet uses Hierarchical Deterministic (HD) protocol hence called HD wallet. This HD wallet comes with a decentralized approach that enables its users to retain control over their bitcoins and cannot be locked by a centralized service provider. On the contrary, the decentralized wallet cannot carry out certain actions instantaneously as it does not hold the coins and needs the user’s approval whenever there is an action to be taken. The new wallet is free of cost and comes with financial services that will help new users to buy and sell bitcoins.
“The whole reason why people get into Bitcoin is to no longer be dependent on a bank. The motto that I like about Bitcoin is ‘be your own bank’. You don’t want to be part of a financial system that keeps you hostage when they own your funds,” says Ruben De Vries, CTO, BlockTrail.