Tuesday, January 18

Nunchuk, Bitcoin wallet specialized in multi-signature comes to iPhone


Key facts:
  • Nunchuk already has versions for Windows, Linux, macOS and Android.

  • The distribution of the signers can even be between different hardware wallets.

Nunchuk is a Bitcoin (BTC) wallet that creates a different form of fund protection through the use of a multi-signature system. Recently it was learned that this wallet has become multiplatform, by adding support for the iOS operating system, which is used by the iPhone and iPad devices of the Apple company.

Nunchuk has just over a year since its official version was launched, as reported by CriptoNoticias in November of last year. The advertisement About the inclusion of iOS to the operating system catalog was made through Twitter yesterday, December 22.

Those interested can now download the app from the App Store. It should be noted that, in the Twitter thread itself, Nunchuk points out that the program is still in beta, so it is advisable to use few funds to avoid taking unnecessary risks.

Multi-signature system, more security for Bitcoin

Hugo Nguyen, co-founder of Nunchuk, considers it “illogical” to use Bitcoin with a single signature system, since this goes against the values ​​of decentralization that are promoted so much in the ecosystem. Making use of multi-signatures avoids a single point of failure within the system.

The process of encrypting a code through a hash code is called “signatures”. Each BTC is stored in a public address, and can be sent only if you have the private key. This is in charge of signing the outbound transaction.

Thanks to developments in the bitcoin protocol, a single address can have multiple signatures, and a minimum number of signatures can be required to send BTCs. For example, in a case of a “3 of 3 signature”, you need to have 3 of the 3 signatures to send. On the other hand, in “2 of 5 firms”, with only having 2 of the 5 firms, the BTC can move. This is what Nunchuk takes advantage of.

Each device can be part of the multi-signature system created by the user himself. Source: Nunchuk.

The operation of the Nunchuk protocol allows the distribution of signers to be distributed among different devices. Either from the user’s PC, hardware wallet or even smartphones, each one can (partially) sign a transaction. Now, with the inclusion of iOS to its report, iPhone and iPad devices can become signatories. The wallet supports up to 11 signers.

It should be noted that the use of multi-signatures is not mandatory with this wallet, since Nunchuk also offers a unique signature system.





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