Ferrite-Coinhana Multiwallet

Multiwallet: https://ferritecoin.org/multiwallet

The Multiwallet seeks to be a unified hot wallet for speculative altcoins and to hold small change for the occasional micro purchase.

Social media:
Ferrite Telegram group | Ferritecoin Twitter/X | Merchandise

About Ferritecoin:
Website | Block Explorer | Source code (FEC) | About Ferritecoin | Ferritecoin's economic history


History
On 22 Nov 2025, we had announced the launch of the long-awaited Ferrite-Coinhana Multiwallet. This coincided with the 3rd anniversary of Ferritecoin which was launched on 22 Nov 2022. Coinhana is a speculative holding team led by myself - we do not issue any cryptoasset, only trade. More history on Ferritecoin's announcement https://bitcointalk.org/index.php?topic=5434601.0g

Over the past few years, Ferritecoin has grown from a niche PoW coin into a small but steady ecosystem. It was (it now isn't listed on any) listed on various small exchanges such as SnowflakeX (rugged), BitxOnex (rugged), Bimex (rugged), XeggeX (rugged) and one recurring problem became obvious as activity increased. Users were storing coins on trading platforms, because many were on mobile. This led to the first version of the Ferritecoin wallet https://ferritecoin.org/wallet which was later expanded to support multiple coins that Coinhana had invested in, such as FNNC (Fennec) and Cyberyen (CY), amongst various altcoins.

The Ferrite Multiwallet aims to solve this problem by providing a multi-asset wallet with fine-grained UTXO control and multiple addresses per coin per user, accessible on browser for all platforms.

Security Model
Transaction building is done using client-side Javascript to call the server's API. Verification layers are intentionally done on the server to prevent spoofing, tampering and MITM attacks. Only user-signed authorisation messages are broadcast while signing keys remain local.

Implementation Features
Multiple coins per user.
Multiple addresses per coin.
UTXO-level flexibility in spending.
Full visibility of every address and individual cumulative balances.
Deposit and withdrawal history.
Adjustible network fee based on activity.
All movement is on-chain.
No staking program, no lock-in.

Notes
Revenue: As our Multiwallet does not hold any stablecoin and only pure-Bitcoin fork coins, most of our revenue is based off commission scaled to the network fee, paid in the altcoin.
ICO: Coinhana will never issue an ICO. You may offer listing fees but it will only affect the wait time, not the decision (community, security, stability). If no listing fees are required, you agree that Coinhana may profit from acquiring coins pre-listing to benefit from price appreciation.
Marketing: Multiwallet will rely on free listing campaigns and its long-term, excellent reputation for marketing. We will not entertain any funny DMs, meme marketers etc.

COMMUNITY FAQ (IMPORTANT)

Q1: Is this wallet custodial or non-custodial?
A1: Custodial. All private keys are generated in the Multiwallet, with strict separation of privileges. For security, we do not store your password, but only a salted time-dependent hash of your username and password for authentication purposes. As a result, passwords cannot be changed once set. Neither the server nor the user cannot make a withdrawal by itself, both must cooperate for a transaction to be valid, preventing server-initiated theft, user-initiated spooding, or MITM alteration of TX outputs.

Q2: Why not make it fully non-custodial like Metamask or Electrum?
A2: The multiwallet is designed for multi-asset support, convenient and lightweight browser based access, UTXO-level control across addresses. Fully non-custodial designs fail in these contexts from synchronisation issues and inconsistent browser entropy. It is a hot wallet for small amounts, not a vault for your life savings.
Use it like an electric swatter, not a bazooka.

Q3: Does the wallet take custody fees or hidden withdrawal fees?
A3: No. If we did we will inform you early in advance (a week minimum). To encourage the use of crypto as currency, our revenue scales with blockchain activity. We charge only network miner fees plus a commission proportional to the miner fee, paid in the altcoin itself.

Q4: Why support speculative PoW altcoins at all?
A4: There will always be speculative altcoins. Existing wallets are hostile towards low-cap chains since they have many unique features where larger companies find unprofitable to optimise for smaller markets. BTC and large coins already have mature wallet ecosystems. Ferrite Multiwallet is for the coins that don't.

Q5: Why so many "rugged" exchanges in the Ferrite history?
A5: These were small exchanges that failed, not Ferrite itself. Many PoW coins had similar experiences during 2023-2024 especially on non-KYC microexchanges. The Multiwallet is designed specifically to avoid users relying on tiny custodial exchanges in the future.

Q6: What stops Coinhana from rug-pulling?
A6: Like any custodial wallet, nothing of substance (trust me bro). A rug-pull will permanently end the Multiwallet, Ferrite-related services and Coinhana. The amount gained from such an attempt on a "hot wallet for small amounts" would be far outweighed by the multi-year damage of lost commissions over the long-term.

Q7: Why no stablecoins such as USDT?
A7: Stablecoins require centralised issuers and KYC-bound redemption channels. Multiwallet stays away from assets that can be frozen externally. It is built for altcoins not IOUs, the niche that we focus on. Also, we are not a fiat money service business, and we dont want AML legal overhead. Our revenue model of being paid in native altcoin also makes stablecoins unnecessary.

Known Limitations
Semi-custodial by design. If you want complete offline control, please download and synchronise the respective nodes.

We are also dependent on backend availability. During new listings or frontend updates, users must wait until service is restored. We will inform in advance in the Ferritecoin Telegram chat.

UTXO-based altcoins only. No EVM tokens, no stablecoins.

Free listing criteria
To maintain Security, Usability and Stability (SUS), coins must meet several minimum requirements before being considered for free listing on the Ferrite Multiwallet. Projects must provide a short essay (300 to 500 words) describing the coin on both this thread and in https://t.me/ferrite_core including its purpose, network characteristics (RPC port, block schedule, premine, mining algorithm, difficulty adjustment algorithm, ticker, especially any unique features.) Additionally, developers must submit links to the official source code repository and a working wallet or client compatible with standard UTXO operations.
Coins will be evaluated by myself, the Ferrite Core group and the community here. Listing may not be guaranteed.

Thank you for the clarification and no offense taken. I understand the concern about thread duplication and user confusion, so I will explain why this separate ANN exists.

The earlier Ferrite ANN thread centers around the coin (Ferrite) and the Multiwallet was originally positioned as a "supporting product" inside the coin ecosystem. Over time, as well as its collaboration with Coinhana, the Multiwallet has evolved into a standalon project with its own goals, roadmap and user base. It supports multiple PoW altcoins with its own revenue model and development cycle independent of Ferrite's core chain, so the Multiwallet was positioned as its own primary project and not merely an extension of Ferrite, to give the Multiwallet a neutral space where non-Ferrite users can participate without needing to sift through unrelated Ferrite-specific content.

I agree with you that custodial wallets should always be approached with caution. Users should treat it as a hot wallet, not cold storage.

As for revenue generation, we charge the network fee, multiplied by a commission proportional to that, paid in the same altcoin. That will pay off in spades if just one altcoin takes off and goes mainstream out of the many.

We can also accept listing fees if cryptoasset developers are rushing, but even then, that is for allocating more resources for the initial blockchain synchronisation, and only after security, stability and technical evaluation.

We support open-source principles, but releasing the code too early exposes the Multiwallet project to the risk of well-funded, influential entities that can easily fork the system, rebrand it and overwhelm the original with raw marketing power, leaving the community confused and smaller developers sidelined. The Multiwallet is still in its formative stage, and several interconnected components are planned for the ecosystem. Once the broader system is stable, we can open-source the wallet in a way that benefits users without enabling opportunistic clones to dominate the space.

Thank you for the feedback.

You are correct that this is an exchange-style account. There are however differences in how coins are stored, transactions are made, and how UTXOs are exposed to the user. All coins are stored in their original addresses, can be tracked directly in a block explorer and not mixed into an exchange wallet database.

On the DAI suggestion, DAI is a decent alternative ERC-20 token on Ethereum which requires a fundamentally different architecture from our Bitcoin-fork-only system. Nothing political or ideological, but tokens don't fit our stack at this stage.