It is not often we can take the time to educate people on some of the core Bitcoin terminologies, but some misconceptions need to be addressed sooner rather than later. The recent issues affecting the Blockchain.info wallet and website are causing many people to believe there is something wrong with the Bitcoin blockchain, although they are two different matters entirely.
A large part of the Bitcoin community is relying on blockchain services provided by popular platforms. Regardless of whether they are consumers or developers, blockchain technology is meant to be accessible to anyone, at any time, on any device. Blockchain.info is one of the most popular resources for their API and wallet service, but recent downtime issues have many Bitcoin enthusiasts looking for viable alternatives.
The Bitcoin community is still a few light years away from seeing a consensus being reached on whether or not BIP 101 and the 8MB block size will become the new norm for Bitcoin in the future. Bitcoin Core and Bitcoin XT developers are still debating who is right and who isn’t, but that’s not keeping various major Bitcoin companies from expressing their opinion either.
Bitcoin security remains a key area of focus for a lot of companies and individuals. And, so it should be, as your money is on the line if you sacrifice security for convenience. But, even the most competent company can sometimes run into a flaw that no one could have foreseen. BitGo’s recovery process almost led to a loss of 85 Bitcoin for one user.
BitGo’s Recovery Script
The issue came to light when one of BitGo’s users attempted to get a Bitcoin transaction – created by the company’s recovery progress – to go through the network. One thing you should know is that BitGo’s recovery tool is only intended for recovering legacy BitGo wallets, and not for anything else.
In a few days from now, the Bitcoin expo 2015 will begin. This conference will be held in London and is organised by Crypto Events. We at CryptoArticles are looking forward to our first congress of 2015. It will be fun to hear what everyone is up to and how they are getting along with their companies now that the Bitcoin price is fluctuating so much.
Litecoin users can rejoice on this 3rd of January, as they are now able to use a new service called LiteVault. Similar to services offered by Blockchain.info for Bitcoin users, LiteVault is an online wallet service for Litecoin. This service is still in early alpha stage at this point, and not all of the functionalities have been enabled just yet.
Litevault is a Litecoin service which uses encrypted wallet storage on Litevault’s own servers, whereas generated private keys are stored in the user’s browser. Some of you may recognize this system, as it is exactly the same principle used by Blockchain.info. This technology has been adopted to Litecoin by Someguy123, who also helps out with LitecoinLocal.
The past 24 hours have been very interesting for anyone involved with Bitcoin. While there doesn’t seem to be an exact cause, the Bitcoin price has been climbing back above US$400 for the first time in 6 weeks. While we could look at possible reasons for this , without any proof or evidence like other news outlets, I want to look at things from a different perspective.
The amount of Bitcoin transaction seems to be growing, according to the data we can pull from Blockchain.info. So much even that we are getting close to the total amount of transactions we had at our last mega Bitcoin bubble, when prices topped the US$1,000 mark.
That Blockchain.info is growing in popularity is generally known. To accommodate the growth within the company Blockchain.info hired lawyer Marco Santori. Now who is this man? He is the author of the Bitcoin Law series of articles which can be found at CoinDesk. He also gave a Bitcoin Foundation’s testimony to the New York Department of Financial Services on the proposed BitLicense.
Marco Santori is also a Chairman of the Bitcoin Foundation’s Regulatory Affairs Committee and he has served as an advisor of the Bitcoin industry. Furthermore he is good at networking and as such has made a lot of connections, both inside and outside the crypto community. Botch Blockchain.info and Mr. Santori are enthusiastic to be working together.
It is not exactly a secret, but I am a huge fan of the Safello Bitcoin exchange. The reason for that is quite simple : they allow us Europeans to receive fiat currency in exchange for Bitcoin within 24 hours. Safello has presented their very own wallet, so I got interested to find out what that is all about. Care to join me?
The main idea behind the Safello Wallet is to make it easier for novice users to understand and interact with Bitcoin. Even though the desktop client is available for most platforms, it’s still sluggish and not exactly user friendly either.
United Kingdom, July 29, 2014 – Blockchain announced that the latest version of their Bitcoin wallet is now available again in the Apple App Store. The new Blockchain iOS Wallet marks an important moment for the Bitcoin ecosystem, as the first major Bitcoin company to have its app reinstated in the App Store this year.
Prior to Apple’s removal of all cryptocurrency apps in January of 2014, Blockchain was the most downloaded Bitcoin Wallet.
The new iOS Wallet has been completely re-written from the ground up with an emphasis on security and usability. A beautiful and simple user experience has been designed to make Bitcoin easier than ever to use for new consumers around the world.