bitcoin wallet

Block’s bitcoin wallet will become easier to use

The Block payment system is working to improve its functionality. The startup’s founder Jack Dorsey said that the bitcoin wallet will integrate a sensor that identifies a fingerprint.
The company first announced the hardware-type wallet in the summer of 2021. It is based on open-source software, which makes it possible to integrate the wallet with a mobile application. In addition to working on the device, the founders of Block are actively developing the project. They want to make the use of the wallet as convenient as possible, equipping it with a multi-signature with support for 3 keys. The latter is in the wallet itself, in the mobile application, and on the company’s server.
The identification will allow transactions of small amounts through a smartphone and server without using a bitcoin wallet. Thus Block is trying to increase the level of security and simplify the system of information recovery in case of loss of the phone. The fingerprint identification system will be used as an alternative way to conduct transactions using passwords and seed phrases.
Block’s solution makes it easy and secure to use a hardware wallet. Having multiple passwords, PINs, and verification phrases confuse users and make it difficult to act. Moreover, the security level of such options is rather questionable, especially since hackers regularly try new workarounds to steal data.

bitcoin wallet with biometricsBiometric sensors make it possible to create devices without having a display. All control will be done through an app. However, the company notes that some users may need enhanced security measures. In the future, the developer will add such a feature.
Regarding the technical features, the wallet will be equipped with a battery lithium-polymer type, for charging the port USB-C.
Plans for Block, formerly Square, include the development of a cryptocurrency mining system, and it will be based on open-source code. According to Dorsey, such a device for digital money mining is more decentralized, which will increase the sustainability of crypto infrastructure. In addition, an important factor, in this case, is the use of energy and the scarcity of silicon, which is controlled by several large companies. The goal of the project is to improve vertical integration. The new solution will make bitcoin mining accessible to a wider category of users.
However, such an idea of the company has been criticized because of the choice of cryptocurrency. A number of experts believe that bitcoin is destructive to the planet, and its mining does not justify the harm it causes. However, Dorsey does not explain his choice of cryptocurrency, although he notes that he will not stop exclusively at bitcoin. At the same time, the head of Block does not give a clear timeline for when the mining platform will be able to create another kind of crypto.