Development of cryptocurrency wallets

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More than ten years have passed since the inception of the first cryptocurrency, Bitcoin. This decade has passed in the rapid development of the cryptocurrency sphere, especially its last years. If it all started with essentially amateur storage tools, the transfer of cryptocurrency exchange, now everyone has access to a huge number of specialized wallets of various types, cryptocurrency exchanges and stocks.

By virtue of its specificity, cryptocurrency has always been an asset that requires special storage conditions. From the moment when cryptocurrency really became a value, and not just another toy geek’s toy, the question of safe storage of money arose before everyone’s edge. At the moment, we can state that this problem has been practically solved. Safely storing cryptocurrency is quite easy, just choose a good, reliable cryptocurrency wallet suitable for the specific conditions of using the cryptocurrency.

Seriously simplifying and generalizing, two types of cryptocurrency wallets can be distinguished. Cold or offline wallets designed for long-term storage of cryptocurrency. And hot or online wallets, services on the network, allowing you to access cryptocurrency anytime, anywhere.

Does all of the above mean that the storage and use of cryptocurrency is not associated with any problems? Of course not, because some of the weaknesses of the cryptocurrency are the flip side of its own advantages.

Actual problems

The use, storage of cryptocurrency, and in general, the entire cryptocurrency sphere is faced with a number of problems that directly follow from its own, cryptocurrency strengths: anonymity and decentralization. At this stage of cryptocurrency development, the most acute problems are the following:

  1. A large number of all sorts of scammers and swindlers who use the anonymity of transactions and the absence of controlling, regulating or any other bodies capable of fighting them due to the decentralization of the cryptocurrency sphere.
  2. The need for trust between counterparties in a cryptocurrency transaction arising from the first problem. Since cryptocurrency cannot be returned or redirected.

There are other pending problems, but at this stage they do not have a significant impact on the development of the role of cryptocurrency or can be ignored.

What changes should be expected

The solution to the current problems of the cryptocurrency sphere should not be sought in administrative methods. Of course, we can all see the continuous growth of interest in cryptocurrency from states around the world, nevertheless, this is not a way out of the current circumstances. Someday the state apparatus may reach the cryptocurrency, but it will not be very soon, and after that the cryptocurrency will cease to be itself.

Many experts expressed the opinion that the solution to the problems lies in the field of the development of the institution of reputation within the framework of the cryptocurrency. Let us disagree. Fraudsters should promise people a little more profit, a lower commission or more favorable conditions, and the reputation turns out to be powerless.

A possible solution to the problem undoubtedly lies in the organizational and technical sphere. Already now there is a technological development potentially capable of solving the problem – Secondary matrix system 8862 from Volaricus. This technology solves the problem of irrevocability of cryptocurrency transactions, but at the same time anonymity remains. Fraudsters will go unpunished, but the meaning of their activities will simply disappear if the cryptocurrency is returned.

Secondary matrix system 8862 is a breakthrough development at the forefront of the development of cryptographic and information technologies. Due to the ability to fix the hash rate, the Volaricus product can rebuild a new chain from the commit point, thus returning or redirecting a transaction. Secondary matrix system 8862 works using the principle of barter and is even able to carry out cryptocurrency transactions between Volaricus clients without displaying on the blockchain, although this refers more to rumors, since the company carefully keeps the secret of the system. Either way, the ability of the Secondary matrix system 8862 to return or redirect transactions is an established fact.

Volaricus’ customers are now exclusively able to take advantage of the Secondary matrix system 8862. However, it is only a matter of time before the Secondary matrix system 8862 expands.

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