Bitkey : A Closer Look at Jack Dorsey's New Bitcoin Wallet.

Sovereign Frontier

Dec 09, 2023

Helloo frens, another week, lots of exciting updates and things to talk about in the Web3 space. let’s dive in.

In this issue💯📩

🎯 Bitkey : A Closer Look at Jack Dorsey’s New Bitcoin Wallet

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Bitkey : A Closer Look at Jack Dorsey's New Bitcoin Wallet.

Jack Dorsey’s new bitcoin wallet, Bitkey, is a product of his fintech company Block, formerly known as Square. Bitkey is a self-custody hardware wallet that aims to empower users to truly own and manage their money with bitcoin. Bitkey consists of three components: a mobile app, a hardware device, and a set of recovery tools.

The mobile app allows users to easily access and control their bitcoin funds, as well as buy and sell bitcoin via Cash App and Coinbase. The app also supports multi-signature security, which means that users need two of three keys to authorize transaction. One key is stored on the app, one on the hardware device, and one on Bitkey’s servers.

The hardware device is a small hexagon-shaped gadget that connects to the app via Bluetooth. The device acts as a second factor of authentication, and also features a fingerprint sensor for biometric verification. The device is designed to be portable and durable, and can be attached to a keychain or a necklace.

The recovery tools include a recovery card and a recovery phrase. The recovery card is a physical card that contains a QR code that can be scanned by the app to restore the user’s wallet in case of losing the device or the phone. The recovery phrase is a set of 12 words that can be used to recover the wallet in any compatible software or hardware wallet.

Far from being just another entry in the crowded space of digital wallets, Bitkey aims to be a unique blend of innovation, security, and user empowerment, marking a significant leap in how we interact with Bitcoin.

Inviting our first external customers to try Bitkey

Image source : https://bitkey.build/beta-launch/

🎯 Updates across the Multichain

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