Bitcoin, Crypto currency, Blockchain

The development of flexible Cold Wallets

6015c8554581840cddfc55f875fdc714 - The development of flexible Cold Wallets

A new application of MyEtherWallet name MEWconnect and a new product of a Silicon Valley start-up called SealBlock combine the advantages of Hot and Cold Wallets in two unique Ways.

Hot vs. Cold Wallets

The main distinction in the case of Wallets is “hot” or “cold” Wallet. Hot Wallet means the Wallet is permanently connected to the Internet, and the Coins can be traded so at any time. A Hot Wallet is coming to the normal, physical cash at the next, the Coins in the Wallet are always flexible and negotiable.
A Cold Wallet has no permanent connection to the Internet. The consequence is that the Coins can not be traded quickly and simply, since first contact with the Internet must be built.

The development of Cold Wallets

One of the biggest obstacles to the widespread acceptance of crypto-currencies, the fear is to lose his Coins to a Hacker. A Cold Wallet, this risk is reduced, however, the advantages of a crypto currency will be lost as the instant mobile payment.
The new technologies (MEWconnect and SealBlock) have currencies that Potential, the acceptance of Crypto by companies to increase private persons, who would not have considered its use before.

MyEtherWallet Hardware Wallet App

MEWconnect retains the convenience of the MyEtherWallet Hot Wallet, and adds a large part of the additional security of a Cold Wallet, by taking advantage of the physical memory on the phone of a user, to a Cold Wallet set up. The App is currently in Beta Test stage. MEW offers up to $2000 as a reward for every error discovered in the Code.

The “GoLive” of the App for IOS and Android is expected by the end of August. The Integration of the direct payment processing will enable everyday transactions directly from a secure Cold Wallet.

SealBlock Hardware Hot Wallet

SealBlock is a Hardware Wallet, with Intel SGX Hardware-enclave technology. This makes it possible to protect the critical data of crypto-currencies on the user level. It is similar to the common Ledger Nano-S or Trezor, but it has more processing power and memory capacity. It was developed for the demanding needs of stock exchanges, miners and institutional traders.

SealBlock was presented last month at the block-to-train-organized by the Silicon Valley Blockchain Security Technology Forum for the first time. Currently in its first round of financing is still running. Previous investors, for example. Companies such as Whales Capital and ASB Venture. Was developed SealBlock by the VeriClouds incubator, a leading provider of hardware encryption and cyber security.

Click here to read news about Honkongs new Blockchain Trading platform, or here is a forecast about the future of the Blockchain market.

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