Intel's New Tech Brings High Level of Security to Bitcoin Wallet Users

Bitcoin Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term processor BitPay has announced the first bitcoin wallet with Intel hardware security integration. The Intel Software Guard Extensions integration offers hardware-level protection for the bitcoin wallet’s private key generation, transaction signing and private keys.

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“Providing user-friendly financial security is one of bitcoin's biggest opportunities, and Intel's silicon-based security helps us move bitcoin closer to the mainstream,” said Stephen Pair, CEO of BitPay. “We look forward to releasing this to Copay users in the coming months.”

“The decentralized trust which Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term technology enables has the potential to transform interactions over the Internet, starting with bitcoin. With blockchain technology and our security and computing assets, Intel hopes to bring decentralized trust to a wide array of asset exchanges over the Internet,” said Rick Echevarria, Vice President of Software and Services Group, and General Manager of the Platforms Security Division at Intel.

BitPay says it expects to make this feature available to all clients soon and it will be showcasing a demo of the solution this week in Las Vegas.

Last month Straits Financial LLC announced that it will be the first U.S. based Futures Commission Merchant (FCM) to indirectly utilize the services of BitPay via a partnership with digital bank WB21 Ltd.