Frozenbit: Multisig Security Meets Simplicity;
http://frozenb.it https://i.imgur.com/GnmVzFG.png Bitcoins biggest concern has always been whether or not major national exchanges, million dollar investment partnerships, common gambling website's or even an everyday guy's coins are truly safe? So let's ask that. Are my Bitcoins (
BTC) truly 100% safe and for myself and myself only to control as I please? What if my private key is stolen do I lose all my bitcoins? Could there be a way to truly be safe, could there even be a way forcompletely anonymous people to hold coins together trustlessly? There is, and it's called
multisignature (addresses).
Multisignature protocol caught my eye when gox failed. As someone who lost about every bitcoin they had in gox it intrigued me.
I asked myself how so few people know about something so innovatively simple and built into bitcoins protocol. Multisig is the perfect marriage for bitcoin and security.
Instead of one key, there are essentially 3 keys (or more) attributed to bitcoin address. It requires 2 of 3 private keys to-agree-to spend funds, that means you could hold all 3 for added security or have an address where you and your friends each have a key. I decided to look deeper into multisignature addresses and a name kept popping up, Calvin over at frozenb.it.
Considering Calvin, frozenbits CEO was someone who is on the frontline of bitcoin innovation I wanted to get his input on things surrounding this mysterious new feature people are just now talking about. I asked him to go on the record talking about his service, multisig in general and what he difference really is. He agreed.
CHRIS- "So Calvin thanks for agreeing for the interview, I'm quite inspired by a few of the related emails you sent me and thanks for the time explaining the concept of multisig."
CALVIN- "We'll thanks for having me do the interview, It's been quite the journey. Seeing someone begin interest in multisig and what we're trying to do is a sign frozenbits development is justified."
CHRIS- "I wanted to start off with something other than multisig. In regards to apple, how do you take this news?"
CALVIN- "Apple is creative, solid business plan and I think this is a calculated move they've been waiting for. I don't think I'd be far off from saying it both attracts a desirable demographic 18-25 years of age back into apple. It may also play into their new tone of "we're still cool and we like cool things." Like bicoin!
CHRIS- Insightful, Didn't think of that.
CHRIS- "I seen a tweet the other day from you to armory. They released their own multisig feature called lockboxes I believe. Seeing you congratulate them was an interesting move."
CALVIN- " I love armory, I personally use their wallet for cold storage. Nothing beats being in control of your own coins. This inspired me to strive to leave the customer in charge of their coins when designing frozenbits underlying protocol. So that tweet was out of genuine love for their service, and philosophy. Seeing them dive into multisig was wonderful, knowing that people are seeing advances and Armory out of all services is embracing is forthright."
CHRIS- "There is so many different services out there, what makes frozenbit so special."
CALVIN- "Lets forget about the multisignature difference for a minute, because I believe so many others are going to embrace it soon. Frozenbit is, and will always will be a company that learns from all those before it. We know people want to be in control of their coins, we know people want privacy, we know people don't want another mark managing a system where their coins could be at risk.
I can assure you and any hearing about us for the first time or a long time follower that this is not the case. We have a dedicated team who works long nights, to get this to market as fast a possible. Great relations with bitcoin users, enthusiasts and even just the code behind it.
CHRIS- "Nice outlook, what about features, bonuses and such?"
CALVIN- "Frozenbit is the goodie bad of features. We pulled out all the stops to dedicate ourselves to living bitcoin. We use the same encryption techniques the military does, we store coins and wallets offline and we assign a cryptographic footprint to every account to sign their transactions when spending funds. Now our greatest feature is out strive to go mobile, very few wallets are.
I can assure you this will be the easiest bitcoin platform you've ever used, simplicity, accessibility and security all in one platform. And friends, lets not forget about referring your friends and reaping rewards! We want everyone to be as protected as our users so we are PAYING out bonuses when you refer a user!"
CHRIS- "Now, there isn't that much about you out there when I was researching into your developments."
CALVIN- "Well I'm attending Stanford university, I'm pursuing a masters in computer science and an MBA in risk management. Two things that make me keen and intrigued by bitcoin as a monetary system and it's underlying code. We're based in Palo alto, CA (Come visit us sometime, the coffee is on me) and there are 3 people working with me on this. We're a 100% self funded start-up, not one investor dollar is in this company we only answer to the people who love bitcoin and those who use our service.
CHRIS- "I may take you up on the coffee. Thanks for the interview, I think that about sums up everything I wanted to personally ask you!"
CALVIN- "Hey it's no problem. Like I said earlier thanks for doing this, bitcoin holds a lot of things that truly make it unique. I'm only one of the people unlocking those features and giving them to everyone equally."
https://i.imgur.com/m6Qn4Ud.png After that interview that we did on the June 1st, It struck me so many things are overlooked. Multisignature seems to be the future, and if Calvin is the one to bring it to the light so be it. He definitely is the opposite of karpeles, open, intriguing and can explain something that when I first looked at it I gave up. Funny as though frozenbit solves that dilemma in the best way, remove the technical focus on interface, beauty and serenity of the service. Frozenbit may be the answer bitcoin users have been looking for the introduce multisig to business and enthusiasts alike. After the interview he informed me if anyone had any questions you can address to his twitter @frozenbitio, and he recommends visiting the website
http://frozenb.it for updates. They'll be releasing a video further explaining features, promises and innovations they plan on keeping.
https://i.imgur.com/Xcn135G.png
