Another big acquisition took place in the world of Bitcoin and cryptocurrency last night. GreenAddress, one of the many Bitcoin wallet software providers, has been acquired by Blockstream., a company known for developing Bitcoin solutions. This new acquisition will strengthen both companies’ efforts to prioritize privacy, convenience, and security.
Although not everyone has ever used the GreenAddress platform in the past, the company offers an interesting product. By putting a strong focus on convenience without sacrificing security and privacy, the company was on the right track. Their efforts have not gone by unnoticed either. Otherwise, they wouldn’t have been acquired by Blockstream.
Blockstream and GreenAddress Go Way Back
It has to be said; the GreenAddress wallet solution is not for everyone. Most of the features offered are tailored towards more experienced users who want to use multi-signature solutions. Additionally, there is also a deterministic design, two-factor authentication, and an interface that anyone can make use of with ease to control their coins.
Over the years, the GreenAddress solution has become synonymous with cross-platform compatibility. Available on Chrome, iOS, and Android, it was one of the first wallet solutions to bring such a security standard to different devices. All of this is achieved without storing the users’ private keys on the company servers as well.
Interestingly enough, GreenAddress was one of the first Bitcoin wallet providers to offer HD multisig, dynamic fees, and hardware wallet support. Things have come a long way ever since those early days, and the company has continued to innovate. New features will be rolling out shortly, including privacy and security enhancement and sidechain support. This latter option would allow for future support of other assets and currencies than just Bitcoin.
The GreenAddress development team will become part of Blockstream’s engineering team. However, their code for this wallet will remain open sourced on GitHub. Since both companies have been working closely together for some time now, no immediate changes are expected.
Header image courtesy of GreenAddress