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VeChainThor’s mobile wallet update released with enhanced security features – v1.1.0

Anvita M V

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VeChainThor's mobile wallet update released with enhanced security features - v1.1.0
Source: Unsplash

On 1st August, VeChain foundation announced that an update [version v1.1.0] for VeChainThor mobile wallet will be available for download from today.

The VeChainThor mobile wallet went live on July 9th. It was launched with the intent to adopt a “go mobile strategy” and acts as a portal on the VeChain blockchain for all kinds of decentralized apps on the network. The wallet is available for both iOS and Android devices.

After receiving feedback from the users, VeChain foundation has come up with the next version of VeChainThor mobile wallet to eliminate bugs, optimize user experience and add an additional feature which is the enhanced observe wallet function.

VeChain announces the launch of VeChainThor mobile wallet v1.1.0 update | Source: Twitter

Tweet by VeChain Foundation | Source: Twitter

Since security is the primary concern of the VeChainThor Wallet, its current update mainly focuses on enhanced user security.

The observe wallet is built for users who would like to create and store their VeChainThor address and private key offline. With this new feature, users will be able to view their address balance, node status, and VTHO rewards on the mobile wallet. Also, users can store their private keys on the Cold Wallet [a hardware device that is completely disconnected from the internet, with the mobile wallet installed] for enhanced security.

The function has a simple authorization check to see whether the address requested is actually owned by the user.  When the user initiates the authorization process in the Hot Wallet [hardware device that is connected to the internet, with the mobile wallet installed ] he/she would be prompted with a  unique 6 digit code after which an authorized signature can be created by signing the authentication code with the private key. The requested information can then be viewed by scanning the authorized signature on the Hot Wallet.

Mr. Ruslans Tarasovs a Twitter user commented:



“Great news!”

Seanpv, another Twitterati says:

“When will this be available on the playstore? We have to allow apps outside of the app store to update it currently and I don’t want to do that with an X-node at stake”

Crypto_Dan, a blockchain enthusiast says:

“Wish there was a reinvest function. So we could reinvest VTHO into VET without an exchange.”





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Anvita Mysore Vadiraj is a full-time content writer at AMBCrypto. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies.

Altcoins

Bitcoin SV [BSV] gets hit with another reorg as multiple blocks get orphaned, including a 128 MB block

Akash Anand

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Bitcoin SV [BSV] gets hit with another reorg as multiple blocks get orphaned, including a 128 MB block
Source: Pixabay

Bitcoin SV [BSV] and its proponents have been making headlines over the past couple of weeks, either due to developments or because of comments made by its major proponents, Craig Wright, the chief scientist at nChain, and Calvin Ayre.

The network was also hit with several members of the cryptocurrency community alleging that the cryptocurrency itself is a sham without any use cases, as evidenced by its delisting on several popular cryptocurrency exchanges like Binance, Kraken and Shapeshift.

The latest news added salt to BSV’s wounds after it was revealed that the network went through another blockchain reorganization on a 128 MB block. This fact was pointed out by Nikita Zhavoronkov, the lead developer of Blockchair, who had tweeted:

“Whoops! $BSV has experienced yet another reorg, this time 6 (six!) consecutive blocks were orphaned (#578640–578645), this chain included a 128 MB block #578644 🤦‍♂️ The network was basically stuck for 1.5 hours, and this shows that even 6 confirmations are not enough.”

Orphaned blocks are valid blocks which are not part of the main chain. There are ways that they can occur naturally when two miners produce blocks at similar times or they can be a result of an attacker with enough hashing power using it for nefarious activities like reversing transactions.

A major reason why this reorg event made news was that a major 128 MB block was stuck in transaction, something that was not supposed to occur according to the initial claims made by the SV camp. Supporters of the cryptocurrency, however, have stated that despite being slower than promised, the transactions on the block settled faster than that on a Bitcoin Core block.



One supporter of BSV, mboyd1, tweeted:

“Orphaned blocks are a feature, not a bug”

To this tweet, Zyo, another cryptocurrency enthusiast replied:

“yes, but orphaning 6 blocks in a row is not good, that means that 6 confirmations is not safe. It’s a bug because the 100+ MB take way too long to propagate and validate. There is a reason why BCH doesn’t have [yet] 100+ MB blocks.”





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