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Press Release

Bitcoin Vault: Future of Transparency

Team Bitcoin Daily

Published

3 years ago

on

While decentralized finance is an optimal replacement over the traditional financial system, it is still rigged with several loopholes. Being a digital ecosystem, hackers have found a way to exploit the weaknesses of some platforms and cause irreversible damage. 

According to a report by CipherTrace’s Spring 2020 Cryptocurrency Crime and Anti-Money Laundering Report, crypto hacks, thefts and frauds accounted for a total of $1.36 Billion in the first five months of 2020 alone. One of the reasons for this high number is that a user cannot cancel the transaction on a blockchain. 

However, Bitcoin Vault has figured out a way to give users the ability to cancel their transactions using its 3-key security solution. Users can now reverse certain types of transactions within 24 hours on the blockchain, potentially reducing fraud and theft cases significantly. 

Bitcoin Vault aims to address certain issues faced by the crypto world, such as:

  • Unauthorized access to private wallets by getting access to the user’s private keys.
  • Human error while making crypto transactions such as choosing the wrong receiver’s address or entering the wrong amount. 
  • Errors, bugs, and other issues can cause the payment to get stuck or redirect.

How does Bitcoin Vault aim to solve these problems?

Bitcoin Vault addresses these problems and creates a more secure and rewarding ecosystem where users get more freedom and control over their assets. For that purpose, Bitcoin Vault developed an ecosystem with different tools that can aid in securing the crypto ecosystem. All of the tools are powered by the 3-key security solution. 

3-Key Security Solution

In the 3-Key Security Solution, Bitcoin Vault helps users generate three Elliptic Curve Digital Signature Algorithm (ECDSA) keys. One of these keys is stored in the app automatically, while the other two need to be managed by the user. Using these keys, users can cancel their transaction and reverse it into the original or a new wallet. 

  • The standard Transaction Key is the one generated automatically and stored within the wallet. It is used to recover the wallet in case of any issue and to initiate transactions. 
  • The Cancel Transaction Key is used to cancel initiated transactions within 24 hours after 144 blocks are generated.
  • The Fast Transaction Key is the third key that enables secure and fast transactions. 

Bitcoin Vault Ecosystem

Bitcoin Vault Ecosystem consists of three apps designed in-house to store and manage BTCV. Together they offer a unique and secure solution for all decentralized storing and managing services.

  • Gold Wallet

The Gold Wallet is a mobile app where users can store, receive and send BTCV. Using the Gold Wallet, users can create three types of wallets and perform different transactions, including Secure Fast, Secure, and Secure Cancel Transaction. The wallet is also used as an authenticator for two-factor authentication for the Electrum Vault desktop app. 

The three types of Gold Wallets are Standard, 2-Key Vault, 3-Key Vault. 

  • Key Generator

Key Generator helps in creating individual public and private keys which are required to access the wallets and make transactions. This is done locally and does not store the keys on a cloud to ensure maximum security. 

  • Electrum Vault 

Electrum Vault is a desktop app based on an open-source Electrum Wallet. It works similarly to the Gold Wallet and can be used to store, receive and send BTCV along with all the transactions. 

The three types of Electrum Vault Wallets are Standard, 2-Key Vault, and 3-Key Vault. 

All the wallets in the ecosystem, whether on the Gold Wallet or the Electrum Vault, integrated the USP of the Bitcoin Vault of reversible transactions. These wallets offer standard transactions, 2-Key Vault Transactions (Secure and Cancel), and 3-Key Vault Transactions (Secure, Cancel and Secure Fast). 

Bitcoin Vault is the first platform to offer cancel transactions, making the crypto universe a more secure financial ecosystem. It will help reverse incorrect transactions and will minimize thefts and accidental expenditure. 

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Press Release

Introducing the Plena App: A Revolutionary Crypto Super App

Team Bitcoin Daily

Published

3 days ago

on

July 24, 2024

By

We are excited to announce the launch of the Plena App, a groundbreaking crypto super app that seamlessly blends the security of self-custodial wallets with the convenience of centralized applications. Today marks a significant milestone in the world of cryptocurrency as we introduce a platform designed to revolutionize how users interact with digital assets.

What is Plena?

The Plena App is an advanced crypto super app that offers users unparalleled security through self-custodial wallets while providing the ease of use typically associated with centralized applications. With Plena, users can invest in over 100,000 cryptocurrencies, manage transactions, perform asset swaps, and bridge assets with just a single tap. This innovative platform leverages Account Abstraction technology, making it the first of its kind in the crypto space.

Key Features

– Self-Custodial Wallets: Plena ensures users have complete control over their digital assets, combining robust security with user autonomy.

– Comprehensive Investment Options: With access to over 100,000 cryptocurrencies, Plena provides diverse investment opportunities.

– Seamless Transactions: Facilitating quick and easy transactions, Plena makes managing your crypto assets straightforward and efficient.

– Asset Swaps and Bridging: The app allows for effortless asset swaps and bridging, enhancing flexibility and usability for crypto enthusiasts.

– Account Abstraction Technology: Plena’s innovative use of Account Abstraction technology sets it apart, offering a unique and superior user experience.

 Launch Details

We are proud to officially launch the Plena App today. This pioneering platform is set to transform the crypto landscape, providing users with a secure, convenient, and innovative way to manage their digital assets.

Contract Address: 0xed68931e351ee97e8f77c64181475a6e3f2bd573

Join us in this exciting new chapter of cryptocurrency innovation. Visit our website or follow us on X to stay updated with the latest developments and features of the Plena App.

For more information, visit our website or follow us on X.

Website: http://www.plena.finance

X:http://x.com/PlenaFinance

Token: PLENA

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Press Release

How Bitcoin Lotteries Work and Differ from Conventional Lotteries

Crypto Chain Wire

Published

3 days ago

on

July 24, 2024

By

The world of lottery just got an upgrade and it is global, secure, and powered by the future of finance: Bitcoin.

In this article, we dive into the exciting world of Bitcoin Lottery which offers a seamless and transparent experience. We will break down what Bitcoin lotteries are, how they work, and what sets them apart from your conventional lottery system.

What is a Bitcoin Lottery?

Bitcoin lotteries work like traditional lotteries but with a modern digital spin. Instead of using fiat currency, participants use cryptocurrencies like Bitcoin.

Here’s how it works: you buy a lottery ticket with cryptocurrency, choose your numbers, and wait for the draw. If your numbers match the drawn numbers, you win a prize – paid out in Bitcoin or other chosen cryptocurrencies.

What Makes Bitcoin Lottery Games Stand Out?

Here are the features that make Bitcoin lottery games a top choice for players.

  • Transparency and Fairness: One of the biggest advantages of the Bitcoin lottery is the use of blockchain technology. Blockchain ensures that every transaction and draw is recorded on a decentralized ledger that’s accessible to all players. This transparency eliminates worries about rigged results as players can verify each draw independently.
  • Security: Using cryptographic algorithms, Bitcoin lottery games offer extra security. The decentralized nature of blockchain means malicious actors can’t manipulate the results of the draws.
  • Global Accessibility: Unlike traditional lotteries which are limited by geographical boundaries, crypto lotteries are accessible from anywhere in the world. As long as you have an internet connection and a digital wallet, you can play. This global reach increases the player base and potentially the prize pool.

Regular Lotteries vs. Bitcoin Lotteries: A Comparison

1. The most obvious distinction is the utilized currency. Ordinary lotteries utilize fiat currency like dollars or euros, whereas a Bitcoin lottery uses Bitcoin or other cryptocurrencies.

2. Transactions in Bitcoin lotteries are faster and may have lower fees than buying traditional lottery tickets. This is so because Bitcoin transactions eliminate intermediaries like banks, therefore lowering the delays and expenses related to bank fees and currency exchanges.

3. Prizes in Bitcoin lotteries are in BTC or other cryptocurrencies which can be attractive because of the potential for value growth. Certain Bitcoin lotteries also provide quick payouts, hence improving the convenience for the winners.

4. Bitcoin lotteries usually employ “provably fair” algorithms. Unlike other lotteries, this system lets players use cryptographic techniques to confirm the fairness of the draw outcomes.

Why should one try a Bitcoin Lottery?

Apart from the thrill of maybe winning large, crypto lotteries provide several special benefits:

• Safe and open: You can verify every single draw and transaction.

• There are no geographical restrictions; play wherever on the planet.

• Cut expenses by means of lower transaction fees.

• Instant Payouts: Get your winnings easily and quickly. 

Bottom Line

With improved security, transparency, and worldwide accessibility, a Bitcoin lottery presents a fascinating and creative variation of the classic lottery.

These lotteries are a reliable choice for gamers all around as they guarantee fair and clear results by integrating blockchain technology. Regardless of your experience level, Bitcoin lottery games provide a modern way to try your luck and potentially win big.

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Press Release

Introducing Grok-1.5V: Revolutionizing Multimodal AI

Team Bitcoin Daily

Published

5 days ago

on

July 22, 2024

By

We are thrilled to announce the launch of Grok-1.5V, our groundbreaking first-generation multimodal model. Grok-1.5V, the latest innovation in artificial intelligence, promises to redefine how we interact with and understand the world around us. 

Unveiling Grok-1.5V

Grok-1.5V stands out with its exceptional text processing capabilities, but it goes beyond that. This advanced model can now process a wide array of visual information, including documents, diagrams, charts, screenshots, and photographs. This enhancement allows Grok-1.5V to offer a more comprehensive understanding and interpretation of both textual and visual data.

Capabilities

Grok-1.5V is designed to be competitive with existing frontier multimodal models across various domains. From multi-disciplinary reasoning to understanding complex documents, scientific diagrams, and real-world photographs, Grok-1.5V excels. 

We are particularly proud of Grok’s performance in our new RealWorldQA benchmark, which measures real-world spatial understanding. In zero-shot settings, without chain-of-thought prompting, Grok-1.5V consistently outperforms its peers, showcasing its superior capability in understanding the physical world.

Launch Details

Grok-1.5V will be available soon to our early testers and existing Grok users. We are excited to bring this new level of AI understanding to our community.

Join us as we launch Grok-1.5V on BASE at 19:20 Beijing time today. Don’t miss this opportunity to be part of the future of AI.

Contract Address: 0xeeB0Ea9EcD0Ab9a7a210fA66FCf58ce4747235E6

Stay tuned for more updates and innovations from our team as we continue to push the boundaries of what’s possible with AI.

For more information, visit our website or follow us on X.

Website: https://x.ai

X: https://x.com/xai

Token: x.AI

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