In February of 2018, BitFreezer launched their first ever cold wallet hardware device to compete with brands such as Ledger, Trezor and Keep Key. However, over the last fifteen months, the team started to question the longevity of physical device storage and looked toward the creation of a similar tool, specifically designed for the smartphone. The team came up with a collectively agreed upon conclusion and stated,
“Why should cold storage devices be so difficult in use and lack effectiveness in anonymity protocols? If our mobile phones can create Augmented Reality, record 4K videos, and use face-scanning features for identification, then they are surely capable of holding and transacting crypto assets in a secure manner.”
With a game-changing vision set in place, the team spent over a year developing the first version of the project. On May 31st, BitFreezer officially launched the first-ever cryptocurrency cold wallet in the form of a mobile application. While there are similar crypto apps available on the App and Google Play Store, none of them possess nearly the same amount of R&D that went into developing this industry-changing application.
According to the basic principles of cryptocurrency wallets, a mobile cold wallet must contain three key characteristics so as to become a direct substitute for hardware storage. It must:
- Allow a user to store private keys offline
- Provide leading encryption
- Consensus-based wallet access
- Extensive social engineering protection
- Ensure a safe environment for operations
- Private nodes for stability
- Multi-platform support and without hardware reliance
- Contain an intuitive and simple UX/UI
In order for private keys to be stored within the smartphone, the team developed a unique extension known as a “.btf” file. To ensure hyper-security, both the file and wallet itself are safeguarded with two layers of AES256 Encryption. Furthermore, all operations done within the app occur in the smartphone RAM. This is the safest possible location for a transaction simply because potential hackers cannot withdraw information from this source in a readable manner.
To maintain a safe connection with the private keys at all times, the team implemented a unique security protocol for private keys. This process involves splitting the decryption key between the server infrastructure and the client, reducing hacking risks even further. Additionally, all data packets are equipped with asymmetric encryption and “salt” string, essentially making data packet sniffing obsolete. Furthermore, when the user completed their session [closes the app], all traceable data was instantly erased, making potential theft of crypto assets impossible.
Alongside hyper-security, having a user-friendly interface is just as important to win over any customer. That being said, over 90% of the app was developed from scratch without any third-party influence. Furthermore, each cryptocurrency supported by BitFreezer is configured with personal nodes used in blockchain. This, as well as software development that parses the nodes for instant transaction notification, allows users to see the state of each trade instantly through pop-ups on their smartphone.
Currently, BitFreezer supports Bitcoin, Bitcoin Cash, Ethereum and ERC 20 tokens, with the ability to vote for future tokens to be implemented in the near future. Moreover, atomic swaps and lightning transactions are new features soon to be introduced, allowing crypto users to trade instantaneously. In conclusion, the combination of high-tech security and privacy, alongside a simple user design should prompt crypto wallet holders to ask themselves if they really need their storage devices anymore.
The FunFair Blockchain Platform Now Hosts CryptoCasino.com
RakeTheRake Goes Live as First White Label Partner of Leading Blockchain Provider
RakeTheRake’s CryptoCasino.com has been launched on FunFair Technologies’ leading blockchain casino platform as a licensed white label.
CryptoCasino.com is the first external white label of FunFair, and the casino is ready to dive into the rapidly growing blockchain gambling scene. In 2019 alone, this industry sector recorded over 1 billion dollars’ worth of wagers.
Through this launch, the brand is able to reach the FunFair’s base of 65,000 FUN holders, adding more to its own sizable player base which has been developed over the years of hosting its internationally popular poker affiliate program.
As RakeTheRake’s first endeavor in both the online casino and blockchain space, CryptoCasino will showcase how easy and low-cost it is to launch a successful casino domain on the FunFair platform.
CryptoCasino will raise the standard of the blockchain gambling game by incorporating FunFair’s Guaranteed Fair technology and its ever-growing library of casino and instant win titles.
RakeTheRake’s Founder and CEO, Karim Wilkins, said:
“Becoming FunFair’s first white label with CryptoCasino gives us great satisfaction. We’re extremely confident in our brand, the platform, and the innovative affiliate technology, and we can’t wait to take CryptoCasino and its players to the moon.”
FunFair’s Co-Founder, Jez San, stated:
“CryptoCasino’s launch is a major landmark on the FunFair roadmap and we’re excited to partner with expert marketers in RakeTheRake who will drive further adoption to our gaming ecosystem.”
“We continue to update our platform to ensure it’s user-friendly for those with and without crypto knowledge and we are working on the next steps with RakeTheRake, with the CryptoCasino players being able to confirm our position as the leading blockchain gaming provider.”
The CryptoCasino.com domain is live and accessible to all players within supported countries. As an opening giveaway, new players will be able to benefit from a limited time sign-up bonus of $60 worth of FUN tokens.
FunFair Technologies Description
FunFair is among the most recognized B2B blockchain-based casino platform providers in the industry. By using the advantages of blockchain, FunFair strives to change the casino industry for the better. The casinos based on their platform have lower costs, the games are accessible to a larger customer base, and players are able to engage in guaranteed fair gambling.
The 40-member team behind FunFair has over a century of combined experience in the gaming and casino sector, and two decades of knowledge in the blockchain. This enables them to provide a platform which features quality slots, tables, and unique instant win games which operate on transparency and fairness.
FunFair was established by Jez San OBE, Jeremy Longley and Oliver Hopton in 2017, with their headquarters being based in both Dublin and London.
CryptoCasino is a new breed of casino which merges the benefits of blockchain with cutting edge technology to provide players with a guaranteed fair gambling environment. As CryptoCasino uses FunFair Technologies’ blockchain casino platform, its players will experience the most qualitative games in the industry with the utmost transparency.
Armchair Partners Ltd, an online gaming affiliate, manages CryptoCasino as a white label and also runs RakeTheRake.com, a poker rakeback brand. The company is based in the UK and Sweden; it was first established in 2004.