The crypto wallet SovereignWallet has been providing banking-grade facets to secure user assets. They now ensure to make the transaction procedure as simple as “sending a text.”
Till date, the users using ERC20 tokens, Ethereum, and even their utility token of a company, the MUI have given them advantages from a system to freely send digital currencies to their friends just with a single click on their profile via smartphones. Additionally, the notifications are simultaneously sent with a transfer while accomplished.
The new feature added on its platform let Bitcoin users enjoy the similar advantages in terms sending and receiving cryptocurrency within few seconds. The CEO at SovereignWallet, Seogku Yun states that transfers of Bitcoin occurring with this wallet, the user gets confirmation within a time duration of 15-20 seconds. Mainly, this is because of its end-to-end encryption channel placed between the sender & receiver.
According to Mr. Yun, this is one amongst the first crypto wallets over the market available which doesn’t need a Bitcoin address to make a transaction. The smartphone offering by this wallet is available in such a way to appeal to the unbanked. Moreover, this will give them an opportunity to avoid the exorbitantly high fees which link to send their remittances.
Adding of Bitcoin within its crypto wallet has given the user much more options. Also addresses one amongst the biggest pitfalls in terms of using this particular cryptocurrency which was slow transaction speeds.
The product of the company is complemented with an entirely secure chat feature. Moreover, it lets the fellow SovereignWallet users enjoy benefits using its end-to-end encryption that takes place during one-on-one along with group conversations.
Considering a wide audience, SovereignWallet is accessible in various other languages, namely:
The company states that they expect to add more facets following them in near future.
SovereignWallet Emphasis On Security
The company says to mainly emphasize on security in their aim to establish a simple, available, accessible crypto wallet specifically for overall masses.
Additionally to the end-to-end encryption, the wallet presents a mechanism to recover private keys, with the control to withdraw messages that have been sent in error through the secure chat. However, the platform uses a zero-knowledge protocol as well as a mnemonic word sequence.
On the other hand, the ID operating machine-learning user authentication offers them safe logins. SovereignWallet claims about its app:
It is the first phase in delivering an ecosystem of blockchain solutions that have the potential to touch millions, as part of a new era it refers to as Blockchain 3.0.
SovereignWallet desires to champion and deliver brand facets as a part of its third iteration regarding this landmark technology. However, it is planning to eliminate some of the downsides from its ongoing project.
Interestingly, the company possesses a broader vision to let anyone mint currencies for own communities pegging to a stable currency. The person looking to do the same need to spend much money, creating their blockchain. However, SovereignWallet ensure to allot new types of currencies thriving within an existing network.
SovereignWallet decides to add new features to its crypto wallet, to develop something which they call as the MUI Meta Blockchain. Basically, it is a network that claims to completely embrace the Satoshi Nakamoto philosophy, who is the father of Bitcoin. Also, the company mentions:
A memorandum of understanding has been signed with a University of Southern California in the US to help it achieve its vision – and in the long-term, it is hoped that its infrastructure will go a long way in helping to “create a society in which wealth is distributed more evenly.