The developer of Easypaysy says removing visible Bitcoin addresses from the payment process is essential to encourage adoption.
A new wallet aims to broaden the adoption of Bitcoin (BTC) and cryptocurrencies but making their addresses easier to remember.-
The service, dubbed Easypaysy, is the product of Spanish developer Jos-eacute; Femen-iacute;as Ca-ntilde;uelo and launched on Dec. 1.-
Dev: BTC addresses -ldquo;not for humans-rdquo;
Ca-ntilde;uelo was irked by the complex nature of Bitcoin addresses, which are random collections of letters and numbers that are all but impossible to memorize.-
In the official introduction to Easypaysy, he described Bitcoin-rsquo;s user experience, or UX, as -ldquo;terrible.-rdquo;
-ldquo;Bitcoin addresses are really not meant for humans. Nobody should be forced to make or receive payments to a crypto-address, much as nobody expects you to navigate the world wide web just by using IP addresses,-rdquo; the description reads.
The wallet service works by offering three formats of so-called Bitcoin -ldquo;accounts-rdquo; for users. These are designed to be more user-friendly identifiers, to which others can send cryptocurrency funds instead of using actual BTC addresses.
Behind the mask, funds are delivered to BTC addresses as in a regular transaction, Ca-ntilde;uelo promising that no address is used more than once.-
Security trumps familiarity
Various services have offered similar solutions over the years, including BitcoinWallet.com in 2014 and Ethereum Name Service for Ether (ETH) payments last year.-
Nonetheless, commentators appeared taken by Easypaysy with well-known Bitcoin educator and developer Jimmy Song describing the concept as -ldquo;interesting.-rdquo;
-ldquo;I haven"t thought through the downsides, but allows for much easier-to-remember IDs than addresses that we use today. From a UI perspective, big win as it"s easy to remember and print on business cards,-rdquo; he summarized in a tweet following the launch.
As Cointelegraph reported, wallet security currently forms something of a thornier issue than ease of address sharing. With large numbers of Bitcoin users still trusting third parties to store their funds, a dedicated effort is underway to highlight the risk of not controlling one-rsquo;s own private keys.Full article