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Today I got a new inspiration.

CN
0xTodd🦇🔊
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1 year ago
AI summarizes in 5 seconds.

Today I got a new inspiration.

The form of the future wallet may be a "multi-signature version of a hybrid wallet with cold, hot, and custodial features".

We all know:

Custodial wallets (such as exchanges) have simple registration and a smooth experience;

Hot wallets (such as Metamask) are convenient to use and do not require trust in third parties;

Cold wallets (offline) are absolutely secure but inconvenient to operate.

For custodial wallets, you can register with whatever you like, such as email or phone number, and then upgrade to hot and cold wallets when there is more money inside.

In the multi-signature version, there are 3 levels of signatures:

One signature from the custodial wallet (exchange or institution you trust);

One signature from the hot wallet, followed by activation;

One signature from the cold wallet, followed by activation.

Custodial wallets are the most convenient to operate and are suitable for breaking barriers. They can only be used for small daily transactions (e.g. 0.01 BTC), such as paying for gas, and are convenient to use without worrying about the exchange running away.

Once the signature of the hot wallet is activated, you can use medium-sized funds daily (e.g. 0.1 BTC), and the user experience is no different from Metamask and Phantom, which is sufficient for buying meme coins.

If the signature of the cold wallet is activated, you can have all permissions to transfer all funds, although it is not easy to operate, it is much safer.

For example, even if a hot wallet encounters a malicious authorization for "wallet clearing", at most, a medium-sized fund can be stolen.

Of course, it is also less afraid of exchanges misappropriating or running away, after all, only the daily small amount of funds is authorized.

This wallet utilizes technological thinking to achieve the effect of "wanting both and still wanting more", which is very interesting.

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Selected Articles by 0xTodd🦇🔊

1 year ago
I didn't expect South Korea to make such a big and difficult decision this time.
1 year ago
First of all, congratulations to Mengmeng's $moodeng for entering the Coinbase listing roadmap.
1 year ago
A voice version of the blog made with Deep Tide: Let's talk about MicroStrategy and the positive spiral of Bitcoin.
View More

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