Bitcoin wallets come in different shapes, sizes, and with very unique flavors. Samourai Wallet has been a very interesting creation in this regard, primarily because it does things very different from traditional offerings. The following five aspects make this wallet unique and well worth checking out for those looking for such specific features.
#5 Removing USD Balances
One of the more interesting aspects of Samourai Wallet is how the wallet no longer provides fiat balances for Bitcoin users. Instead, the firm is confident users need to look at BTC as a native currency, rather than sticking to the use of Dollars, Euros, et cetera. Although it is rather unlikely anyone will begin using Bitcoin as their native currency because of this decision, it still shows the cryptocurrency industry may require a different mindset altogether.
#4 Trusted Node Support
In the cryptocurrency world, nodes are the backbone of any network. Without nodes, transactions won’t be relayed, let alone receive the necessary network confirmations. Samourai Wallet lets users run their own trusted node through the regular Bitcoin Core client. One small change needs to be made within Samourai Wallet, as it will be set up in such a way it connects to the user’s own node at all times. An interesting concept which can pave the way for further Bitcoin network decentralization.
#3 Remote SMS Commands
There are many different ways to ensure a Bitcoin wallet is secure from harm. Samourai Wallet’s self-destruct option through SMS commands has always been one of the more “drastic” solutions, although it is a concept which will undoubtedly find its niche as more time progresses. SMS Commands can also be used to retrieve a wallet seed remotely, wipe the wallet, or using the Sim Switch Defense solution to wipe the wallet in case of theft.
#2 Fungibility and Anti-blockchain Analysis
Samourai Wallet’s Ricochet function will undoubtedly be of great interest to a lot of people as time progresses. It offers fungibility, which is a trait Bitcoin has lacked from day one. Under the hood, Ricochet uses an additional 4 hops to every transaction. This also makes it very difficult for blockchain analysis firms to uncover the origin of a transaction. Native privacy features may come to Bitcoin eventually, but for now, they have to be sought elsewhere.
Speaking of Bitcoin privacy, Samourai Wallet has integrated support for PaymentNym. It is a way to create private connections between the wallets of both sender and recipient. Such a feature can only be used if the recipient also uses the same technology, yet it is an interesting option to explore regardless. Users can even share their PaymentNym publicly without having the worry about having their privacy being compromised.
The post 5 Reasons You Should Check out the Samourai Wallet for Bitcoin appeared first on NullTX.