Cryptocurrency wallets, like cryptocurrency, have come a long way over the decade. From enthusiastic handicrafts to high-tech systems created by professionals. Operating with cryptocurrency is now not at all difficult and quite convenient. All the necessary infrastructure has been created, with conditions and offers for every taste.
If you are interested in long-term storage of cryptocurrency in complete safety, cold cryptocurrency wallets are at your service. Such devices are completely autonomous and capable of storing cryptocurrency offline. There are completely different form factors, up to encoding private keys into a QR code, but the most popular are cryptocurrency wallets in the form of flash drives.
Hot cryptocurrency wallets — high-tech services that provide online cryptocurrency storage services are regularly suitable for people using cryptocurrency. Located on dedicated servers or in cloud storage, hot cryptocurrency wallets provide a sufficient degree of security and allow you to use cryptocurrency anytime, anywhere, where there is an Internet connection.
Problems of crypto wallets
Despite the high degree of development of methods for storing cryptocurrency, cryptocurrency wallets face a number of rather serious problems:
- a large part of hot cryptocurrency wallets are amateurs who do not provide a service of decent quality, or simply scammers
- transactions with cryptocurrency are not protected from fraud in any way. Fraudsters are protected by anonymity and embezzle money due to the irretrievability of transactions.
What could be the solution
For all ten years since the advent of cryptocurrency, the lack of centralized management and government regulation has been the strength of the blockchain and the entire cryptocurrency sphere. But as it develops, it becomes increasingly clear that the peculiar anarchy of the cryptocurrency sphere has generated some problems that need to be solved.
The problem of “low-quality” and simply fraudulent wallets could be solved through regulation through centralization or government intervention, but this contradicts the entire ideology of the cryptocurrency sphere. Nevertheless, the problem has a solution and is already being solved in a “spontaneous” way. The solution is to develop the institution of reputation. The sites that publish reviews and reviews have a significant impact and are increasingly leveling the problem of both amateurs in the blockchain field and exchanges and scammers’ wallets. Even now, even one who has absolutely no experience, a beginner has the opportunity to get all the necessary information to use the services of a high-quality and safe cryptocurrency wallet.
More complex is the problem of protecting cryptocurrency transactions from fraudsters. Online transactions are often one-time and the counterparties, the buyer and the seller, do not interact in any way either before or after the transaction. In this case, the institution of reputation is ineffective, and the problem can be solved exclusively by technical means.
This problem has been recognized by specialists for a long time and considerable efforts have been thrown into its solution. Systems have already been created that can potentially cut this knot. The Ref script code T523-12 introduced by the Opeory cryptocurrency wallet allows the return of cryptocurrency transactions, while in no way violating the anonymity of all participants in the transaction. By analyzing the blockchain hash rate, the system can rebuild new chains and redirect the transaction, including in the opposite direction. Ref script code T523-12 operates on the principle of barter and is even able to carry out transactions without displaying a 6 chain. True only within the system. More detailed information about the operation of the Ref script code T523-12 is simply not available, as it is a trade secret of Opeory.
Of course, the question arises why, with the advent of the Ref script code T523-12, everything in the cryptocurrency sphere has not turned upside down. The system is revolutionary and should change literally everything. But the fact is that it is now available exclusively to Opeory customers and will not be widely available in the near future.