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SYS-CON MEDIA Authors: Liz McMillan, Esmeralda Swartz, Hovhannes Avoyan, Elizabeth White, Adrian Bridgwater

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Ciphrex Launches Leading-Edge Bitcoin Wallet

Ciphrex, a California startup company, has launched Bitcoin Vault™ – a leading-edge, secure software wallet for Bitcoin transactions and account management. The beta release is offered for free and can be downloaded from Ciphrex website at ciphrex.com.

Bitcoin Vault™ is the first bitcoin wallet supporting shared multisignature account management using deterministic keychains. That’s welcome news for the Bitcoin community. Last December, at the Bitcoin convention in Las Vegas, attention was drawn to the fact that no one had yet offered any practical multisignature tools.

Eric Lombrozo, Ciphrex Co-CEO and Chief Technology Officer, indicated, “Security is the primary consideration for financial transactions, so we’ve focused our efforts in making the use of digital currencies secure. The multisignature feature makes Bitcoin Vault™ suitable for enterprise applications by enforcing company policies at the cryptographic level and avoiding any single point of failure.”

Bitcoin Vault™ is also very fast, and its inherent scalability offers enterprise-level solutions. Several companies are currently evaluating it for their corporate use, among them ethereum.org, creators of a platform and programming language that makes it possible for any developer to build and publish next-generation decentralized applications.

Ciphrex presented its cutting-edge software to Ethereum’s leadership team at the North American Bitcoin Conference in Miami last January. Charles Hoskinson, the Ethereum Project’s CEO, commented, “Eric Lombrozo is one of the brightest minds in the Bitcoin space. We are pleased to be working with his venture Ciphrex to help resolve our unique security needs.”

Ciphrex has also developed CoinStream™, a notification system for digital currency transaction processing (DCTP). The potential market for DCTP applications is vast. CoinStream™ can be integrated to facilitate transactions such as retail purchases, currency exchanges, international remittances, and debit card payments, among others.

“Digital currency transaction processing is an exciting new field that will revolutionize the way payments are initiated and settled globally,” Lombrozo said. “At a more fundamental level, at Ciphrex we are working to develop the payment network infrastructure needed to bridge the gap between digital and conventional currencies while exploring entirely new applications these technologies allow that had up until now been impossible,” he added.

Ciphrex is a provider of enterprise-grade DCTP software that is secure, reliable, and scalable. The company is looking for investors for the next development phase.

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