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Bitcoin Security Rectifier: Mobile App to Help Protect Your Defenseless Bitcoin Wallet

by Maureen Blas / May 05, 2021 06:01 AM EDT
Bitcoin Security Rectifier: Mobile App to Help Protect Your Defenseless Bitcoin Wallet

At Michigan State University, a Computer Science engineer provides sound advice when using a smartphone in managing your cryptocurrency - don't use one, or at least be careful. Researchers at the same university are developing a mobile app called "Bitcoin Security Rectifier" to help protect bitcoin wallets.

"More and more people are using bitcoin wallet apps on their smartphones. But these applications have vulnerabilities. There are some apps that violate this decentralized principle. The apps are developed by third parties. And, they can let their wallet app connect with their proprietary server that then connects to Bitcoin," said assistant professor Guan-Hua Tu of MSU's College of Engineering.

Tu and his team are revealing susceptibilities that can compromise a user's money and personal details. Likewise, the team helps users to better safeguard themselves by making them aware of these security issues. Moreover, they are developing a mobile app that can protect your defenseless bitcoin wallet. 

Researchers call the mobile app "Bitcoin Security Rectifier." They published the research for the Association for Computing Machinery's Conference on Data and Application Security and Privacy. Tu wants to help bitcoin wallet users understand that most mobile apps violate one of Bitcoin's central principles (known as decentralization), which leaves them vulnerable.  

The Bitcoin Security Rectifier is designed to operate at a similar time on the same phone as pockets, which shows indicators of such infiltrations. The mobile app cautions the user when an intrusion is occurring. Additionally, it offers remedies according to the type of assault. For example, the mobile app can add a sound to outgoing Bitcoin messages to prevent a thief or hacker from getting your precise information.

At the moment, Tu and his team are developing a mobile app for Android users. Users will be able obtain it from the Google Play Store in the coming months. With regards to the iPhone app, there's no schedule yet due to additional challenges and provisions placed by iOS. 

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