A crypto company claims it is offering \u201cthe fastest Bitcoin transfer in the world\u201d after adding a brand-new service to its crypto wallet.<\/b><\/p>\n
SovereignWallet says its platform offers banking-grade features to protect user assets, all the while ensuring that completing transactions is as simple as \u201csending a text.\u201d<\/span><\/p>\n Until now, those who use Ethereum, ERC20 tokens and the company\u2019s own utility token \u2013 MUI \u2013 have benefited from a system where they can send crypto to their friends simply by clicking on their profile \u2013 directly from their smartphones. Notifications are subsequently sent when a transfer has been completed.<\/span><\/p>\n A new feature means that Bitcoin users can enjoy the same advantages \u2013 giving them a way to send and receive the cryptocurrency in a few seconds. According to the company\u2019s CEO Seogku Yun, transfers of Bitcoin between SovereignWallet users are confirmed within 15-20 seconds due to the end-to-end encrypted side channel established between the sender and receiver. Mr. Yun says it is one of the first crypto wallets available on the market that doesn\u2019t require a Bitcoin address in order for a transaction to take place.<\/span><\/p>\n SovereignWallet\u2019s smartphone-based offering is designed to appeal to the unbanked, giving them a chance to avoid the \u201cexorbitantly high fees\u201d that have long been linked with sending remittances. The addition of Bitcoin to its crypto wallet is set to give users more choice \u2013 and address one of the biggest pitfalls with using this cryptocurrency: slow transaction speeds.<\/span><\/p>\n The company\u2019s product is complemented by a secure chat feature \u2013 enabling fellow SovereignWallet users to benefit from end-to-end encryption during one-on-one and group conversations.<\/span><\/p>\n In a bid to appeal to as wide an audience as possible, SovereignWallet is available in several languages \u2013 English, Korean, Chinese, Vietnamese, Russian, Japanese and Portuguese among them. More are expected to follow in not-too-distant future.<\/span><\/p>\n An emphasis on security<\/b><\/p>\n The company says it has placed an emphasis on security in its quest to build a simple, accessible crypto wallet for the masses.<\/span><\/p>\n In addition to end-to-end encryption, SovereignWallet offers a mechanism to recover private keys \u2013 and the ability to withdraw messages sent in error via secure chat. Along with a zero-knowledge protocol and a mnemonic word sequence, \u201cID-based, machine-learning user authentication\u201d provides secure logins.<\/span><\/p>\n Part of a wider vision<\/b><\/p>\n SovereignWallet says that its app \u201cis the first phase in delivering an ecosystem of blockchain solutions that have the potential to touch millions\u201d<\/em> \u2013 as part of a new era it refers to as Blockchain 3.0. The platform wants to champion and deliver new features as part of the third iteration of this landmark technology, all the while eliminating some of the downsides that existed before. As alluded to earlier, one of these is slow speeds when confirming transactions.<\/span><\/p>\n Overall, the company has a bigger vision of enabling anyone to mint currencies for their own communities that would be pegged to a stable currency. Those who currently wish to do this often have to spend many thousands, if not millions, of dollars creating their own blockchain, but SovereignWallet wants to enable new types of currencies to thrive on an existing network.<\/span><\/p>\n As well as adding new features to its crypto wallet, SovereignWallet is in the process of developing something it calls the MUI Meta-Blockchain \u2013 a network which is claimed to fully embrace the philosophy of Satoshi Nakamoto, the founding father of Bitcoin. A memorandum of understanding has been signed with a University of Southern California in the US to help it achieve its vision \u2013 and in the long-term, it is hoped that its infrastructure will go a long way in helping to \u201ccreate a society in which wealth is distributed more evenly.\u201d<\/span><\/p>\n SovereignWallet also has other features in the pipeline \u2013 including plans to partner \u201cwith the world\u2019s top decentralized exchanges to deliver scalability, interoperability, and sustainability.\u201d<\/em> Further, it plans to allow users to purchase a range of cryptocurrencies via its own decentralized exchange.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" A crypto company claims it is offering \u201cthe fastest Bitcoin transfer in the world\u201d after adding a brand-new service to its crypto wallet. SovereignWallet says its platform offers banking-grade features to protect user assets, all the while ensuring that completing transactions is as simple as \u201csending a text.\u201d Until now, those who use Ethereum, ERC20 tokens and the company\u2019s own utility token \u2013 MUI \u2013 have benefited from a system where they can send crypto to their friends simply by clicking on their profile \u2013 directly from their smartphones. Notifications are subsequently sent when a transfer has been completed. A new feature means that Bitcoin users can enjoy the same advantages \u2013 giving them a way to send and receive the cryptocurrency in a few seconds. According to the company\u2019s CEO Seogku Yun, transfers of Bitcoin between SovereignWallet users are confirmed within 15-20 seconds due to the end-to-end encrypted side channel established between the sender and receiver. Mr. Yun says it is one of the first crypto wallets available on the market that doesn\u2019t require a Bitcoin address in order for a transaction to take place. SovereignWallet\u2019s smartphone-based offering is designed to appeal to the unbanked, giving them a chance to avoid the \u201cexorbitantly high fees\u201d that have long been linked with sending remittances. The addition of Bitcoin to its crypto wallet is set to give users more choice \u2013 and address one of the biggest pitfalls with using this cryptocurrency: slow transaction speeds. The company\u2019s product is complemented by a secure chat feature \u2013 enabling fellow SovereignWallet users to benefit from end-to-end encryption during one-on-one and group conversations. In a bid to appeal to as wide an audience as possible, SovereignWallet is available in several languages \u2013 English, Korean, Chinese, Vietnamese, Russian, Japanese and Portuguese among them. More are expected to follow in not-too-distant future. An emphasis on security The company says it has placed an emphasis on security in its quest to build a simple, accessible crypto wallet for the masses. In addition to end-to-end encryption, SovereignWallet offers a mechanism to recover private keys \u2013 and the ability to withdraw messages sent in error via secure chat. Along with a zero-knowledge protocol and a mnemonic word sequence, \u201cID-based, machine-learning user authentication\u201d provides secure logins. Part of a wider vision SovereignWallet says that its app \u201cis the first phase in delivering an ecosystem of blockchain solutions that have the potential to touch millions\u201d \u2013 as part of a new era it refers to as Blockchain 3.0. The platform wants to champion and deliver new features as part of the third iteration of this landmark technology, all the while eliminating some of the downsides that existed before. As alluded to earlier, one of these is slow speeds when confirming transactions. Overall, the company has a bigger vision of enabling anyone to mint currencies for their own communities that would be pegged to a stable currency. Those who currently wish to do this often have to spend many thousands, if not millions, of dollars creating their own blockchain, but SovereignWallet wants to enable new types of currencies to thrive on an existing network. As well as adding new features to its crypto wallet, SovereignWallet is in the process of developing something it calls the MUI Meta-Blockchain \u2013 a network which is claimed to fully embrace the philosophy of Satoshi Nakamoto, the founding father of Bitcoin. A memorandum of understanding has been signed with a University of Southern California in the US to help it achieve its vision \u2013 and in the long-term, it is hoped that its infrastructure will go a long way in helping to \u201ccreate a society in which wealth is distributed more evenly.\u201d SovereignWallet also has other features in the pipeline \u2013 including plans to partner \u201cwith the world\u2019s top decentralized exchanges to deliver scalability, interoperability, and sustainability.\u201d Further, it plans to allow users to purchase a range of cryptocurrencies via its own decentralized exchange.<\/p>\n","protected":false},"author":65,"featured_media":369914,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[],"class_list":["post-369900","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"yoast_head":"\n