Armory is the most secure and full featured solution available for users and institutions to generate and store Bitcoin private keys, and from the start Armory was designed to never compromise Bitcoin security. This means users never have to trust the Armory team.
Armory builds enterprise grade Bitcoin security software solutions. It also provides Bitcoin security consulting services to institutions for deploying a Bitcoin security plan. The Armory team is highly experienced in cryptography and private key ceremonies and they have collaborated with Verisign on developing an innovative Identity Verification Specification for establishing trust on the Internet.
Alan Reiner started building the best Bitcoin wallet in early 2011, and this wallet pioneered the cold storage Bitcoin wallet concept, which is a system for securely storing Bitcoins on a completely air-gapped offline computer. By splitting the core client functionality between wallet security and network security, this innovation created a new best practice standard for Bitcoin security. Armory is an extremely advanced and completely trustless solution. Here users are in complete control of generating and storing the private keys.
Because of privacy and security measures built into the software, it is impossible to know how many bitcoins are secured in Armory Bitcoin wallets. However, we know that the number is most likely in the millions. When it comes to professionally and seriously securing bitcoins then Armory must be strongly considered and the private keys must be adequately respected.
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Someone asked Farhod at a Bitcoin conference: „Why one should store their bitcoins using Armory Bitcoin Wallet“, and he quickly responded, ‘Because whoever steals your bitcoins will.’
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Armory pioneered easily managing offline Bitcoin wallets using a computer that never touches the Internet, which means that you can manage everything needed to create transactions from an online computer with a watching only wallet. All secret private key data is available only on the offline computer, which greatly reduces the attack surface for an attacker attempting to steal bitcoins.
All private-key data should be kept on the offline computer. By doing that only someone with physical access to the offline computer can steal your Bitcoins. The actual process of creating a transaction and signing it with the offline computer can take less than a minute. After that, it can be broadcasted to the network so Bitcoin miners can include it in a block. Also, Armory employs many security practices. This means that even if someone physically stole your offline system, then it still may take hundreds of years for them to get through the advanced wallet encryption!
And using Lockboxes in a completely distributed way, multi-signature addresses are available, which means that there is no safer way to manage large sums of Bitcoins than with the best Bitcoin wallet, Armory!
Armory’s primary focus is developing the most advanced and secure Bitcoin wallet, where users will completely control the generation and storage of the Bitcoin private keys. However, this also means that users have to take full responsibility to protect their bitcoins.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com