05/10/19

development progress

A Sneak Peek at the Blocksafe® IOT Wallet

Blocksafe® as a project has progressed in many ways in 2019, as we continue with successful testing of our Blockchain and StreamIoT™ platform which integrates with our Blockchain (Blocksafe® IOT Chain) as seen in our last post. We are well under way to implement many new features and functionality to our blockchain and StreamIoT™ platform over the coming year.

In this post we will cover key development progress updates for the Blocksafe® IOT Blockchain, StreamIoT™, along with a sneak peek of the IOT Wallet and some of the ongoing testing. Stay tuned to our social media @Blocksafe as we plan on having these updates often.

First off, Blocksafe® has been working through naming ideas of our products, we played with the name Libertas™ as a name for our blockchain but felt that it wasn’t accurate or expressed what the overall purpose of the blockchain is. We are integrating devices with our blockchain specifically the internet of things, so it became clear that naming the blockchain “Libertas™” would become confusing.

With that all said, we’ve moved away from Libertas to a more conventional and more accurate name. Simply, The IOT Blockchain. Our IOT Blockchain is using the Stellar Consensus Protocol (SCP) and we are actively evolving our blockchain technically. We are planning on having a deeper dive on that soon where we will share more details.

In relation to our IOT Blockchain and the IOT wallet, the date of a managed beta release is still being determined by our development team but we can show off a bit of it, see below.

Image #1: IOT Wallet showing transaction history
Image #2: IOT Wallet showing sending functionality
Image #3: IOT Wallet showing receiving functionality

Key features of our wallet are:

Faster & Cheaper
Our wallet can send and receive in a matter of seconds.

Only you have control over your tokens
IOT Wallet uses Stellar Consensus Protocol and allows you to create an account that only you control. We do not have access to your recovery phrase (private key). Your private key is encrypted and only stored on your device. This allows for 100% decentralization.

Seed Phrases
We use the best practices when generating our 24 word recovery phrase. Our recovery phrase is also compatible with BIP39 mnemonic phrases which allows interoperability with other wallets.

PIN Protection
Your 4 digit PIN is used to encrypt your private key and is required when viewing your recovery phrase. Our IOT wallet allows you to choose whether your PIN is required when opening the app or sending transactions.

Detailed Transactions Summary
We provide a break down to show how your transactions.

Our wallet is fully functional on our testnet, and built for Mac, Windows and Linux. This IOT wallet will be used to store the IOT Chain native tokens (IOT) as well as your own private keys.

Our IOT Wallet is a critical key step in our development for Blocksafe® and it is leads to the launch of our IOT chain that will be launching later this year.

We appreciate all of your feedback on our posts and consider all constructive feedback. If you have any comments or questions please feel free to interact with us on social media or send us an email at contact@blocksafe.co

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