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Чт. Ноя 21st, 2019

The developer bitcoin realizes the old idea on strengthening of protection of cold purses

2 min read

Such function in cold purses as “storage”, it was offered in 2016. Then developer bitcoin wanted to create the mechanism which would allow to set translation delay time. That is bitcoins were spent not at once, and it increased protection of a purse. If it fell not into those hands, the owner of a purse could turn transaction.

However the idea was not implemented as demanded implementation of a fork of code base of the protocol. And only now the Bitcoin Core developer Brian Bishop found a way out. He suggested to revive the idea of “storage”, using the existing code, CoinDesk tells.

“The storage is of interest as the mechanism of safety of cold bitcoin wallets. It provides a delay, available to public observation, during which the user can be warned about theft of coins” — Bishop writes to e-mail, adding that during “the unblocking period”, the owner can solve, react or not react to warning.

The developer notes that the idea consists in having the sequence of previously generated and previously signed transactions. If operation is initiated not by the user of a purse, he can always make other transaction with the preset parameters to return bitcoins.

“I do not know whether it will solve a problem of thefts once and for all. This strong statement, but is very important mechanism in tool kit” — Bishop considers.

At the moment the program is not written yet. The developer waits for responses before starting creation and software testing. Bishop once again notes that a fork in this case will not be required as the idea is based on function of temporary blocking which already exists in the code of bitcoin.

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