BitBay Web Wallet - Current Status and Future Developments!
BitBay's Web Wallet
The most advanced cryptocurrency in the industry is proud to announce the release of a simplified web wallet on the 27th November 2017.
The wallet works as a standalone application and is also compatible for easy integration into websites for payment services. This wallet is step number two out of seven in the “BitBay|Easy” development line that kicked off with BitBay’s recently released block explorer. It provides users the ability to send and receive coins without the need to synchronize to a blockchain.
Providing New Possibilities
Mobile app development — Our mobile app is still scheduled to be released in Q1 of 2018. With the web wallet complete, we can begin integration of the wallet into the App GUI. This will become the first mobile app wallet in the industry with multisignature account capabilities and advanced timelock payment options.
Website Hosted Integration — Now websites have the ability to provide payment options without the regulatory hassle, fraudulent refunds, nor high-end fees associated with standard fiat based payment solutions like credit cards and paypal. Consumers can minimize the amount of private information required for billing information on a website, eliminating fear that a data breach will bring that information into the wrong hands.No private key data is stored on a website host — therefore it’s impossible for a data breach on a website compromising your wallet. This wallet will also increase adoption for ‘easy button’ users.
This can provide a semi-trustless environment for websites to host applications like, poker games, exchanges, binary options, etc.
Future Advanced Features and Applications
Standalone application — We will soon release a standalone version with advanced payment options like timelock transactions and the ability to create multisignature accounts up to 16/16.
Full web integration — Porting our smart contracts and marketplace to web wallet will make the tech more accessible to everyone and thus drive adoption. Businesses will be able to use it “under the hood” for their own solutions. Forums and auction sites will have an easy way to set up a secure marketplace/payment solution with very little effort.
Mobile marketplace — With our roadmap poised to complete the release of the mobile app and bitmessage server in Q1 of 2018, once completed we can begin development of our web based mobile marketplace. This will be a simplified version of our Client’s marketplace.
Conclusion
BitBay recognizes that there are always ‘two sides of the spectrum’. One side demands abiding by the basic principles cryptocurrency was founded upon. Trustless decentralized trade environment is vital for any coin to succeed in the future. While the other side demands an ‘easy button’ approach and is willing to sacrifice some freedoms for the sake of practicality. We believe in providing an option for both. With security being the highest priority, it will help us remain at the top of the leaderboard in terms of functionality for programmable cryptocurrencies.