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Author Topic: Send Bitcoin by Email. To Anyone. From Any Wallet. --by Chainsfr  (Read 95 times)
chainsfr
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July 31, 2020, 12:05:16 AM
Merited by bitmover (1)
 #1

This is Lucas from the Ventureum team in Toronto🍁. I am here to introduce our new product "Chainsfr" at https://chainsfr.com ➡️.

Chainsfr is a non-custodial open-source payment service, integrated with Google, which lets you send cryptocurrency by email to anyone from your favorite crypto wallets -- like Ledger, Coinbase and more. Our goal is to provide you a similar experience as Venmo or Interac e-Transfer if you live in Canada when sending cryptocurrencies.

A few more highlights of Chainsfr

✔️ Send crypto to anyone with ease

With Chainsfr, you can send cryptocurrency to anyone by email. The payee can easily deposit your payment with a Google account. You will be able to **cancel** any pending payment before it is deposited.

✔️ Design to prevent human errors

No more worrying about sending cryptocurrency to the wrong address. With "**Security Answer**", Chainsfr can prevent you from loss by accidental mistakes.

✔️ Seamless Integration with Google

* Login without password
* Own your assets in Google Drive
* Sync safely with all your devices

✔️ No compromise on security

* Open-sourced on github.com/ventureum/Chainsfr ➡️
* Non-custodial architecture
* Google 2-step authentication
* SOC2 & SOC3 security compliance
* Multi-signature smart contract escrow
* Client-side encryption

We greatly appreciate your feedback💜.
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July 31, 2020, 12:22:34 AM
 #2

I liked the idea. Certainly adoption will somehow move to solutions similar to paypal or send by email as you suggested.

✔️ No compromise on security

* Open-sourced on github.com/ventureum/Chainsfr ➡️
* Non-custodial architecture
* Google 2-step authentication
* SOC2 & SOC3 security compliance
* Multi-signature smart contract escrow
* Client-side encryption

However, it is very important to point out that no matter if you use 2FA or not, security is compromised in ANY online device, because you don't need 2fa to steal funds, just the private keys.



We greatly appreciate your feedback💜.

I went to your website and put my e-mail address to receive ETH testnet coin as a test.
Sadly you asked for a Google Account. Wouldn't you be able to do so with ANY email provider? Google is not exactly loved here.

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July 31, 2020, 04:21:30 PM
 #3

The idea seems to be cool, even i don't really like it that much. It's important for crypto users to manage transactions within the blockchain, and by adding the use of personal emails then this could confuse new users about the caracteristics of the blockchain. I think it's better to broadcast transactions by signing them using pk. Any alternative may have unexpected results.
This won't help that much the adopton of the new technology, imo, and people may stay stucked in exchanging crypto using emails which are provided by a third part entity.

I went to your website and put my e-mail address to receive ETH testnet coin as a test.
Sadly you asked for a Google Account. Wouldn't you be able to do so with ANY email provider? Google is not exactly loved here.
Same with me. After i canceled the registration using my google account, i faced the same issue while trying to access the demo.
To be clear, i am very careful when to deal with my personal info. The app required access to my files in Drive which i can't go with, simply because i can't understand how this would work as i have private docs in my Drive.

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chainsfr
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July 31, 2020, 07:30:56 PM
 #4


I went to your website and put my e-mail address to receive ETH testnet coin as a test.
Sadly you asked for a Google Account. Wouldn't you be able to do so with ANY email provider? Google is not exactly loved here.

Great question! Let me explain.

Google Drive is one of the most important components of Chainsfr non-custodial architecture.

To keep Chainsfr to be a decentralized service required minimum trust, we need a database that only users can access to store their payment secret, aka, the security answers. We cannot store this sensitive data on our own server, otherwise, Chainsfr would be a centralized service.

Now Google drive comes along. The permission of Google drive can make sure that only users can access this data using Chainsfr frontend. And our server also does not have the permission to access this sensitive data. And all data in Google drive have been encrypted, which means Google cannot access it either.
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July 31, 2020, 07:46:15 PM
 #5


Same with me. After i canceled the registration using my google account, i faced the same issue while trying to access the demo.
To be clear, i am very careful when to deal with my personal info. The app required access to my files in Drive which i can't go with, simply because i can't understand how this would work as i have private docs in my Drive.

Understood. Let me try to clarify here.

Google has one of the best user authorization management system. Chainsfr is only allowed for certain access to Chainsfr related data. Most of the requests are directly from users' own devices, not our server. And every access will need users' permission.

A Google account is required because Chainsfr is deeply integrated with Google ecosystem. The service benefits greatly from Google in many ways, like OAuth, key storage, cross-platform syncing, account security, smooth user experience, and many more.

In Chainsfr, we tried to find a balance between keeping the benefits of decentralization and building a product that is easy to use. Bitcoin core would have the best privacy but also be impossible for mass adoption. Having different options for people to choose might be the ultimate way to solve the problem.
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July 31, 2020, 10:53:31 PM
 #6

To keep Chainsfr to be a decentralized service required minimum trust, we need a database that only users can access to store their payment secret, aka, the security answers. We cannot store this sensitive data on our own server, otherwise, Chainsfr would be a centralized service.

Now Google drive comes along. The permission of Google drive can make sure that only users can access this data using Chainsfr frontend. And our server also does not have the permission to access this sensitive data. And all data in Google drive have been encrypted, which means Google cannot access it either.

This is not being decentralized.
Your service is not decentralized. It is centralized in google services.

Just because you cannot access security information because it is stored in a server owned by google doesn't mean your service is decentralized. Google not being able to access that data (which i doubt) doesn't make that decentralized either.

It would be decentralized if there was no central point. For now, there is one central point in your service: google servers. If google just shut down tomorrow, will Chainsfr still be operating 100% as if nothing happened? If not, it is centralized in google servers.

Bitcoin is decentralized because there isn't a single entity which you could break and shut down the whole network. If you shut down coinbase, bitmain, electrum servers, etc will not affect bitcoin at all.

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August 01, 2020, 12:35:43 AM
 #7


This is not being decentralized.
Your service is not decentralized. It is centralized in google services.

Just because you cannot access security information because it is stored in a server owned by google doesn't mean your service is decentralized. Google not being able to access that data (which i doubt) doesn't make that decentralized either.

It would be decentralized if there was no central point. For now, there is one central point in your service: google servers. If google just shut down tomorrow, will Chainsfr still be operating 100% as if nothing happened? If not, it is centralized in google servers.

Bitcoin is decentralized because there isn't a single entity which you could break and shut down the whole network. If you shut down coinbase, bitmain, electrum servers, etc will not affect bitcoin at all.

Thanks for correcting me. I agree with you. I should not have used the word "decentralized". Chainsfr is non-custodian with minimum trust, not decentralized.

And we didn't call ourselves decentralized on our website.
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August 13, 2020, 02:55:30 PM
 #8

Really nice idea and implementation. Is there any way to get test ETH without providing my gmail?
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August 13, 2020, 03:12:09 PM
 #9

Wow! Im mind blown.. Didnt know that we can process crypto transactions through emails. I must review and see how effective will this be. It's going to be a new key for promoting something making people open the email to see if something with value is linked or attached to the email. This could be big.. Hope you guys from Toronto gets to find bigger fish to support the method.

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