Showing a wallet with Level 2 backup

When we launched the Distributed Seedless Backup scheme, we got some great feedback on the technical breakthrough. For the first time, the backup scheme in a bitcoin wallet was made resilient, live and without a single point of failure. You all showed your love with your comments and reviews.

But there was something wrong. People were not really using the backup scheme. We spoke to more people, dug in, and this is what we learned. The wallet is designed for newcoiners who are most likely experiencing bitcoin for the very first time. They are not necessarily sure if they want…

Bitcoin is permissionless, you say? Bitcoin is for everyone, especially the ones in need, you say?

The bitcoin network offers us the most secure financial infrastructure. There is no other network where you could do a true peer-to-peer transaction and settle it in a matter of minutes without relying on a third party. Bitcoin, the asset, sats as we call them now, is one of the most liquid assets traded globally.

Bitcoin Donations

The above should make bitcoin the best medium for collecting donations for a cause from a global audience. And anyone should be able to do that without the fear…

With Bitcoin Hexa Wallet

If you are reading this, you are probably into Bitcoin already. You are whom we refer to as ‘Bitcoiner Bob’ — someone who fell into the rabbit hole and is the weird Bitcoin person in the family. All of us here, at Hexa, are Bitcoiner Bobs like you, but when designing Hexa, our target is to make bitcoin easy for all users.

Enter ‘Precoiner Pam’

Every time Bitcoin is in the news; we have a close friend, a ‘precoiner Pam’, who asks us for the best way to know more about or get into Bitcoin. At this moment, thinking…

Many protests have broken out in different parts of the world following the killing of George Floyd. For those participating, this is not a one-time ‘protest rally’ which is mostly for protesters to feel good about themselves. In this case, they want to bring about real change which comes with continued activism. Throughout history, people have resorted to different types of activism in different situations and with varying results.

There are only two types of people when it comes to online security — you have either been hacked or you don’t know about it yet.

Today we have come to rely so much on other companies managing our digital worlds through ‘accounts’, that we don’t realise the dangers of such a structure. Companies having your identities, photos, information, etc. provide a honeypot for hackers who will go to any extent to get into such a service or platform. Larger the platform, bigger the probability of getting something juicy out of it. …

As the outsiders were working hard to push automobiles on to the streets, the horse-carriage industry was busy lobbying the regulators in an effort to stifle innovation. They wanted to hype up the conjectured dangers of automobiles and bring the progress down to a level they were comfortable with.

One such case was that of the Red Flag laws. These were enacted in the late 19th century, requiring drivers of early automobiles to follow certain draconian restrictions. This included the need for a person walking in front of the locomotive and waving a red flag as a warning. …

Hexa app with multiple accounts and seedless distributed backup scheme

There are some great wallets out there but describing them is pretty simple — choose one of the following: ‘too-complex’, ‘custodial’, ‘privacy-leaking’ or ‘not-so-secure’. For advanced users, wallets like Samourai and Wasabi are pioneers in privacy tech. Ledger and Trezor take a security first approach but for offline storage of bitcoins. Custodial wallets like Coinbase offer excellent user experience and but don’t provide users with the ability to control their keys, making them more like a centralised bank. Simple non-custodial wallets, like the Blockchain wallet, are not as secure or as privacy-preserving as they should be. …

This post is not about blockchain or crypto but it applies to practically everything in the digital world. These terms are used very loosely and so let us start with trying to understand what they really should mean.

Account /əˈkaʊnt/ (noun)

An arrangement by which a user is given access to a computer, website, or application, typically by entering a username and password. A body that gives this access generally holds data or funds on behalf of a user/ client or supplies goods or services to them on credit.

If you really think about it, currently our entire existence on…

Last week many of us celebrated the 10th anniversary of the bitcoin white paper. And there are many more of these that are going to follow, 10 years for: the Bitcoin software, the mining of the genesis block, the first bitcoin transaction to Hal Finney, the first commercial transaction when two pizzas were bought, the first BIP (Bitcoin Improvement Protocol) and so on…

In the midst of celebrating these decade old ‘firsts’, we might be forgiven to think that these events were like big-bang and everything started from this point onwards. In fact quite the opposite is true. …

We have seen many headlines of financial giants entering the crypto space in one way or another. Some from the recent past:

- $7.2 Trillion Fidelity Will Help Customers Invest in Bitcoin (story)

- The NYSE’s Owner Wants to Bring Bitcoin to Your 401(k) (story)

- Yale University Said to Invest in $400 Million Paradigm Crypto Fund (story)

Any such news is met with a mixed reaction from the crypto community, ranging from euphoria to apathy all the way to scepticism and even despair. What is the real deal here, and does crypto need patronising from these companies?

To really…

Anant Tapadia

Simplifying Sound Money. Twitter @anant_tap Web:

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