Ten years on, and the Bitcoin juggernaut shows no sign of slowing down. To some, the cryptocurrency provides a novel method by which to transact, be it on sanctioned markets or otherwise. To others, it’s money in its quintessential form: a disinflationary asset more scarce and more easily transmitted than gold.
Crucially, the Bitcoin protocol is made up of a thriving ecosystem of equipotent users — arguably its greatest strength, as no single party has the ability to censor, reverse or alter transactions broadcast by another. …
Bitcoin privacy isn’t something guaranteed at the protocol level. How an individual stores, transacts or otherwise uses Bitcoin is the difference between remaining virtually anonymous and providing motivated onlookers with permanent access to their transaction history.
Unfortunately, achieving greater privacy oftentimes comes at the cost of convenience. Address reuse is a no-no, but to the lazy/non-tech-savvy, generating a new address and sharing it with counterparties isn’t always simple.
Enter BIP47 wallets.
BIP47, Reusable Payment Codes for Hierarchical Deterministic Wallets, was submitted by Justus Ranvier in 2015. As the title may indicate, it adds functionality to the existing hierarchical deterministic (or HD) wallet structures – notably, by outlining a system that facilitates recurring payments between parties (all while protecting their privacy). …
In our last piece in this series, we took a look at The Glacier Protocol, a rigorous airgapping procedure ensuring next-level fund protection for Bitcoin users.
While certainly one of the most robust cold storage solutions available to individuals safeguarding large amounts of coins, the Glacier Protocol caters to a very specific niche, by virtue of its 'hands-on' approach. There’s abundant documentation, but it’s unlikely that more than a small subset of confident hodlers will implement it.
For those requiring high security assurances without taking matters entirely into their own hands, there’s Casa’s Keymaster.
Casa is already a household name (if you’ll pardon the pun) in Bitcoin security, making it its mission to deliver ‘the friendliest, most secure key system on the planet’ through clever applications of multisig and a focus on customer service. It first came to prominence in 2018 with its white-glove, trust-minimised solution for storage of funds. …