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.