Coinbase introduces Vault
blog.coinbase.com
Coinbase introduces Vault
1–10 of 63 posts
Re: Coinbase introduces Vault
#2I wonder how well Xapo is doing - because this seems like a copycat.
Re: Coinbase introduces Vault
#3I wonder how well Xapo is doing - because this seems like a copycat.
Same with BitGo.
Re: Coinbase introduces Vault
#4Why is multi-sig in quotes? Is Coinbase providing its users with a '3' address that is on-block chain, or does this "multi-sig" approach still reside entirely off-block chain.
Edit: I presume that Coinbase still holds on to all of the private keys for Vault accounts. Can someone verify otherwise?
Re: Coinbase introduces Vault
#5Actual launch page and a video about how it works https://coinbase.com/vault
Re: Coinbase introduces Vault
#6In other news - "use vault, the regular wallet is insecure".
Re: Coinbase introduces Vault
#7I wonder how well Xapo is doing - because this seems like a copycat.
> I wonder how well Xapo is doing - because this seems like a copycat.
And there's going to be even more copycats than there already are. Making APIs on top of Bitcoin's API is going to get way, way more competitive because that's basically the first idea that every player entering the market has. It's extremely low capital to spin up a new API, so everyone and their mom's dog have been doing it. Transaction fees will be driven down by the copycats, and many of them will probably cut their transaction fees to zero for a long time (ahem, Coinbase).
Re: Coinbase introduces Vault
#8Why is multi-sig in quotes? Is Coinbase providing its users with a '3' address that is on-block chain, or does this "multi-sig" approach still reside entirely off-block chain. Edit: I presume that Coinbase still holds on to all of the private keys for Vault accounts. Can someone verify otherwise?
Some people use quotes to imply "this is not my term" - this is sometimes used for jargon and words you won't find in a dictionary.
For example: The economist said I should consider my "BATNA" or GPS receivers measure "pseudoranges".
Just as using jargon can indicate you are part of an group, putting quote marks around jargon indicates you stand apart from that group.
Re: Coinbase introduces Vault
#9I'm assuming the vault doesn't improve security at all in the event that coinbase gets hacked and loses all of their btc?
Re: Coinbase introduces Vault
#10I'm assuming the vault doesn't improve security at all in the event that coinbase gets hacked and loses all of their btc?
Multisig might.
"To complete the Coinbase Vault offering, we will be adding multi-signature (“multi-Sig”) technology in the coming weeks to enable customers to manage their own vault security."
It's not clear exactly how that will work, but if it's, say, 2-of-3 and Coinbase only holds one of the keys then it would.