BitPay Releases Multisig Wallet App copay for windows

copay

copay

BitPay has made its open source, multi signature bitcoin wallet Copay (beta) available for free on the Windows Phone app store.

The bitcoin payment processor launched Copay on the Windows app store on Tuesday at the CES consumer electronics and technology trade show in Las Vegas.

The news follows the December announcement that Microsoft had begun accepting bitcoin through BitPay for select apps, games and video purchases.

Still in beta mode, Copay was initially developed for BitPay’s internal use, with its multisig functionality proving to be advantageous for corporate fund management and transactions requiring multiple authorizations, the company said.

Multi Signature Technology

multi signature wallet

Correct implementations of Bitcoin multi signature technology require multiple signatures on a bitcoin transaction. Bitcoin miners will reject a multi signature transaction if it does not have the required number of signatures. Each party can independently sign a transaction on a different physical device without the private keys ever needing to be co resident on any single device. Those private keys don’t even need to be under the control of a single person. This is very important from a security perspective because a thief would need to compromise not just one machine, but 2 or more. This dramatically mitigates the risk of theft.

BitPay Releases Multisig Wallet App copay for windows

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