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Coinbase Patents Protected BTC Deposit Option

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Fri, 17/08/2018 - 9:30
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Coinbase Patents Protected BTC Deposit Option
Cover image via U.Today
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The new patent filed by the US crypto trader Coinbase says its users will be able to deposit and take out Bitcoins directly from their electronic wallets. The currently used payment services do not secure users’ private keys.

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The new system offered by Coinbase assumes the use of a master key that encrypts private keys and for signing transactions. In case there is any doubt as to the personality of the user, the system can halt the transaction.

The new system also has an API key. This enables other sites to set up their apps based on this service.

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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