Blockchain API provider Blocktrail has launched its first bitcoin wallet, which is multiplatform and enabled with HD wallet technology and multi-signature security.
Like Airbitz, Blocktrail offers security in that their platform does not have access to users’ currency as the transactions are completed on the client side.
If Blocktrail is ever hacked, raided by government, or if our servers magically disappear into thin air, you remain safe because our wallet never has direct access to your Bitcoin. This is a totally different paradigm from most other bitcoin wallets which take custody over the user’s bitcoin and “secure” it with insurance. Blocktrail’s wallet is able to do this because transactions are signed client-side (in the users browser or mobile device) rather than on our servers, and due to bitcoins design, we have no ability to manipulate these transactions before broadcasting them to the network. The world needs our wallet because centralized bitcoin wallets put people’s future in financial danger.
The wallet is a hierarchical deterministic (HD) or BIP32 wallet where child private keys are generated pseudorandomly from a master private key, which can be used to recover wallets if a device is lost or damaged.
Wallet users can also send bitcoin by just selecting a contact in their smartphone address book.
We made our wallet as friendly as possible and you can exchange bitcoin without using long bitcoin addresses. If you need to send Bitcoin to your friend across the globe, you don’t no longer need to send an email first asking for their bitcoin address. You can just select them from your phone’s address book, enter an amount, and click send. In the background our wallet creates a new bitcoin address for your friend, and associates it to their phone number that has been verified.
Blocktrail has released the wallet’s code on GitHub for review.