Jan 27, 2023
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Square to build Bitcoin hardware wallet, Jack Dorsey confirms
Daily News #7
You may have heard about Twitter CEO Jack Dorsey and digital payment system Square announcing earlier this month that they will be building a Bitcoin hardware wallet.
What is a Bitcoin hardware wallet you ask? Also known as cold storage, a hardware crypto wallet looks a bit like a flash drive and allows users to store their cryptos offline, granting them complete control over their funds via their private keys. Square’s Cash App already enables users to buy and sell crypto, and as such could provide a seamless transition into hardware wallets. However, Square will have to compete with giants like Ledger and Trezor, established companies that have already gained a large market share in the crypto hardware wallet sector.
How do you access your cryptocurrency? Do you think that hardware wallets will help crypto newbies become more confident in investing for the long term? We are eager to know what you think!
Retrieved from:
Mutanya M.T(2021) „Square to build Bitcoin Hardware Wallet , Jack Dorsey Confirms“ coinspeaker.com
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Orkvex Insights: Cross-Chain Security and Wrapped Assets
The expansion of multi-chain environments has elevated the critical importance of cross-chain bridge architecture. Seamlessly transferring value between independent networks requires flawless asset mapping principles. An Orkvex analytical perspective highlights that the overall stability of decentralized liquidity relies heavily on securely generating wrapped assets. Without airtight contract logic, the framework becomes vulnerable.
The Lock-and-Mint Protocol
Generating wrapped assets involves a strict lock-and-mint mechanism. Native tokens are locked in a smart contract on the source network, triggering the destination chain to mint a one-to-one pegged synthetic token. If the source contract is compromised, the wrapped assets lose their backing entirely. Maintaining this precise equilibrium prevents catastrophic liquidity drains and ensures structural integrity.
Defending Against Vulnerabilities
Cross-chain communication layers serve as the primary defense against interoperability risks. These protocols utilize decentralized relayers and multi-signature checks to verify state changes. Continuous Orkvex market analysis confirms that relying on distributed nodes prevents infinite minting exploits and secures data transit across isolated networks.
What is Orkvex?
This digital currency exchange is dedicated to providing a highly secure, transparent, and efficient trading environment for global users.
THORWallet adds Stellar cross-chain swaps with NEAR Intents
THORWallet, the mobile-first non-custodial wallet bridging DeFi and TradFi, is thrilled to announce that Stellar cross-chain swap routes are now live powered by NEAR Intents. This new integration enables users to swap Stellar assets such as XLM or USDC (on Stellar) directly to and from Bitcoin, Ethereum, Solana, BNB Chain, and other major networks all within the THORWallet mobile app, without…