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Coinbase to Enhance Crypto Wallet Security With New Patent

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Mon, 20/08/2018 - 15:07
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Coinbase to Enhance Crypto Wallet Security With New Patent
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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.
 

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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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