Ali Meer
Ali Meer
Feb 15 · 3 min read

class SoundMoney {

/*

Self Sovereign, Secure, Simple, Smart and Stable. BitHyve is on a quest to achieve all this, in a nutshell the quest is to make sound money simplified.

The soundness comes from the bitcoin protocol and simplification from expertise in creating customer focused digital applications.

*/
constructor( ) {

/*

In the spirit of standing on shoulders of giants, BitHyve has evaluated and researched Bitcoin applications and wallets already available in the open source community and incorporated the technical features best aligned with it’s roadmap. This has resulted in a unique set of features available together in one app. The Bitcoin interface is built using bitcoinjs-lib which is a well maintained open source repository in addition to this many other robust libraries have been used like BIP32, BIP39 etc. Features have also been added by incorporating learnings from open source and proprietry wallets like GreenAddress, Blue Wallet, Trust Wallet and Abra. The current respository on github has iOS and Android projects as well as the overall React Native project. The repository is open source and contributions are encouraged for issues, bug fixes, feature additions and general review and feedback as well.

*/

}

public method simplify( ) {

/*

The current version of the app is 0.8 and the plan is to have v1.0 out in Q2 2019. The target for Alpha release includes the following features:

Non custodial HD wallet with multiple types of accounts which vary in functionality and security. Any kind of PII (Personally Identifiable Information) like name, email, phone-number is not required. Being a non custodial software application private key is generated on the users device and not transferred to or saved by BitHyve. The user is always in control of the private key either via offline user managed security or via on device keychain/keystore storage secured by passcode/biometrics.

Daily account with ability to send and receive Bitcoins. This account can be restored even if the device is lost/stolen or currupted. The funds in the account are always on the Bitcoin network so can also be retrieved even if BitHyve application is not available on the app/play store or if BitHyve does not exist anymore.

Secure Bitcoin Account which offers 2 Factor Authenticaiton(2FA) using Google Authenticator. Bitcoin cannot be transferred or sent out of this account without providing the 2FA code generated by Google Authenticator. This also safeguards against loss of phone and has no dependency on BitHyve as funds can still be retrieved. At its core this is a 2 or 3 multisig account with 2 of the keys controlled by the user and the 3rd by BitHyve which is only used if the correct 2FA code is provided. This account follows the 2FA approach implemented by GreenAddress and is being developed to be compatible with Green Address recovery tool. This will allow users to recover funds using GreenAddress recovery tool in addition to BitHyve.

All app data is encrypted on the phone and is only accessible on enterting the correct passcode.

The roadmap beyond R1 has an exciting and groundbreaking set of features leading to the realisation of the end goal to make sound money easy to use.

*Joint Account and Vaults are not released in the first phase

*/

}

}

//Link to BitHyve Wallet repository:

BitBees

BitHyve’s comunity conversations: All about Bitcoin — technology, economics and liberal arts

Ali Meer

Written by

Ali Meer

SoundMoney.simplify( );

BitBees

BitBees

BitHyve’s comunity conversations: All about Bitcoin — technology, economics and liberal arts

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