Electrum Wallet

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Fri Nov 16, 2018 7:07 am

The world of cryptocurrencies is developing. New cryptocurrencies appear, the old ones become more difficult to mine, which means a significant part of the same bitcoin is already in circulation. In this regard, the need for high-quality services for the storage and use of cryptocurrencies is becoming increasingly acute. Today we will tell you about Electrum wallet, consider its functions and advantages, and also tell you how to create a cryptocurrency wallet.

The first version of the wallet was released in 2011 due to the fact that its Creator had worked with a failed project.

Advantages of wallet
It should be noted that The electrum wallet is currently intended for crypto-currencies. Each cryptocurrency supported by the wallet is a separate software that is downloaded from different sites and written by different people who have used the open source code Electrum. However, it is thanks to the narrow specialization, the wallet will be easy to use, because it is aimed at expanding the possibilities of using them.

Main advantages:
Electrum - it is safe and secure. All your private keys to your wallets never leave your device.
Recovery of funds. There are times when access to your funds has been lost. Electrum wallet will help to restore it with a secret phrase.
Speed of operation. The servers that Electrum indexes the bitcoin block chain use, so you can work with the wallet much faster, and therefore more convenient.
Electrum does not lock keys. You will be able to export wallet keys for use in other services at any time.
Smooth operation. Electrum servers are decentralized. This means that if the server that uses your wallet suddenly becomes unavailable, the system will automatically transfer the load to another and thus the wallet will remain in the network. In addition, the developers have made sure that the servers are always more than necessary for the current load to avoid interruptions.
Control of transaction evidence. Electrum always checks all transactions carried out with the help of technology SPV.
Cold storage of keys. Users of the Electrum wallet can access the Internet using the bitcoin cryptographic wallet in the viewing mode. Thus, the keys to them are always safe.
multi-access. Your bitcoin wallet can be used not only by you, but also by those to whom you provide access to it.
Additional integration. The architecture of Electrum wallets is built with the support of various additional plugins.

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