ComingChat V0.1.0: A New Era for the Wallet Begins Today
November the 11th marks an exciting milestone in the history of ComingChat. The availability of ComingChat transitions through a free upgrade on App Store, Google Play, and the Official website as the day turns to the 11th of November.
ComingChat is a driving force for innovation; it’s an enduring platform for each one of us to create and it aims to support billions of people around the world and connect with them.
We feel exhilarated to be launching ComingChat V0.1.0. The entire user experience brings you closer to the Taproot upgrade, empowers you with the BTC network, and solves your problem of scams. ComingChat V0.1.0 provides a sense of security and privacy, providing a place that feels like home. It’s secure and everything is designed with you being the centre of our attention
To fully understand the magic of ComingChat V0.1.0, we urge you to read the content below in detail.
There’s never been a better time to own a Coming Wallet.
As we look forward to the next year and beyond, the crypto wallet will continue to play a relevant and lasting role in our lives, whether it’s to work, create, connect, learn or trade, the crypto wallet will continue to play a relevant and lasting role in our lives.
For the first time in four years, the Bitcoin network has passed through the entire community and all miners voted unanimously to pass an upgrade named Taproot.
This upgrade uses the Schnorr signature + MAST contract, based on the underlying technology of bitcoin’s blockchain. This ensures that users maintain complete control over the funds provided in the transaction while preventing counterparty risks, capital losses, and data exposure. It incentivizes users to conduct anonymous transactions on the block while ensuring security. After the Taproot upgrade, all transaction records, or, transaction records with the same conditions will be automatically packaged and encrypted.
The availability of the soft upgrade of the bitcoin network ‘Taproot’ is a big step for the crypto industry to understand and supervise bitcoin. Thanks to Taproot’s MAST + Schnorr function, complex smart contracts that protect and regulate bitcoin consumption can now be hidden. This represents a major victory for bitcoin user-privacy, and its implementation is something that ComingChat, as one of bitcoin’s core supporters, is looking forward to.
ComingChat CEO Guanghua and its core development team insist on the Taproot upgrade, which will benefit everyone on the bitcoin network.
“We recognized it as a milestone event in the blockchain industry and the opportunity resulted in Taproot becoming an application for ComingChat. We could say that the Taproot upgrade opened the door for us”
No other ecosystem has the breadth and scale that ComingChat has. It meets the needs of people whether they’re creators, developers, or a business of any sort.
Here’s what you can get from ComingChat V0.1.0:
Threshold Signature Wallet applied on MiniX Chain
We’re proud to offer the Threshold Signature Wallet before the Taproot upgrade.
The impact of threshold wallets is profound. This year can be said to be the fastest year for the development of private currencies. Setting aside the soaring value of bitcoin, we focus on the practical application of bitcoin. Bitcoin has been recognized by more and more mainstreams, and it value has grown with the market. As the market expands, the existence of multi-signature addresses will also grow and this is the opportunity ComingChat recognises. The use of threshold wallets can make users’ assets more secure, and the organization’s multi-party collaborative privacy custody business is more secure and convenient.
Threshold Signatures use multiparty computation (MPC) to create a private key in the form of distributed key shares that are held by different parties. It’s possible to generate a massive number of different and random combinations of distributed key shares to represent the same private key. As a result, Threshold Signature wallets can proactively refresh the key shares on a recurring, on-demand, or combination basis without changing the private key (and eliminating the requirement for an on-chain transaction as is required with MultiSig). Doing so materially reduces the probability that an adversary could penetrate the defences of multiple different parties concurrently, and collect enough shares to recreate an entire key and execute a fraudulent transaction. As a result, Threshold Signatures provide the option to be inherently more secure than what is practically achievable with MultiSig.
The only constant about the rapidly evolving digital asset market is change. Regulations are changing, customer expectations are changing, and the digital assets themselves are expanding to include not only cryptocurrencies, but security tokens too, which could completely redefine the scope and scale of the digital asset market. Regardless of how these things evolve, the nature of digital assets will require secure and increasingly flexible wallets. The off-chain nature of Threshold Signatures makes them profoundly more flexible and adaptable than the on-chain multiparty approval model of MultiSig.
Threshold Signature Wallets leverage MPC to support the ability to change not only the key shares as discussed above, but also the security model in many cases without even requiring a change of the wallet or associated address. Threshold Signature wallets can be evolved to support 2 of 2, 2 of 3, 3 of 4, 4 of 8 or virtually any multiparty approval and threshold model which regulators or markets may demand.
Threshold Signature Wallets can be implemented where all of the approving parties are on-line (internet-connected), or off-line (air-gapped), or a combination of both. Some Threshold Signature Wallets incorporate pre-processing features to enable thousands of transactions per second along with the ability to generate complete signatures in a non-interactive fashion thereby fully emulating the operation of a MultiSig wallet. These attributes, combined with the universal compatibility of a single signature make them profoundly more flexible and adaptable than any other multiparty transaction approval scheme.
There are of course many other compelling attributes and differentiators of MPC-enabled Threshold Signature Wallets, such as the increased robustness of the threshold model which maintains secure operations even if some of the parties become compromised.
Custodians, exchanges, and institutional investors who are starting with a clean slate will enjoy the competitive advantage provided by switching directly to Threshold Signature Wallets. Their increased security, privacy, flexibility, and lower operational and transactional cost advantages will add to the motivation for incumbent MultiSig solutions to migrate to Threshold Signatures.
We encourage you to do your due diligence on the particular implementation of Threshold Signatures. While they all use MPC, not all MPC implementations are equal. Results can vary widely on scale, transaction latency, computational intensity, flexibility, etc.
ComingChat launches the first application- Threshold Signature Wallet-upgrade on the market, based on the Taproot upgrade.
With as much time as we’re all spending on cryptocurrencies, the security of digital assets is important. ComingChat V0.1.0 brings you closer to what you care about and is designed with you being our focus. We’re excited to introduce this new update in Coming wallet on ComingChat V0.1.0. Create a Threshold Signature Wallet now !