Coinbase to Enhance Crypto Wallet Security With New Patent

  • Alex Dovbnya
    📰 News

    Coinbase undisclosed its USPTO app for a technology that add a brand-new layer of security to wallets. Patent aims at tackling the problem of vulnerable private keys


Coinbase to Enhance Crypto Wallet Security With New Patent

Coinbase, a major San-Francisco based exchange, recently undisclosed its USPTO application for a new technology that would add a brand-new layer of security to cryptocurrency wallets. In particular, this patent aims at tackling the problem of vulnerable private keys— they can be easily stolen if a merchant page gets compromised by hackers.

The company, spearheaded by Brian Armstrong, has come up with a master key that would create an encrypted private key for conducting payments. Any transaction can be frozen if there are suspicions about a possible hack.
 

Cover image via u.today
Subscribe to the official U.Today Telegram channel. Get news first!

About the author

Alex Dovbnya (aka AlexMorris) covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. When he happens to take a break from crypto, Alex delves into cognitive linguistics (metaphors can be fun too!).

👓 Recommended articles