Tag Archives: Desktop

Secure Your Cryptocurrency with the Right Wallet

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While blockchain technology ensures that cryptocurrency transactions are immutable, irreversible, and secure, where cryptocurrency is stored is a determining factor in how secure it is. Having a vulnerable cryptocurrency wallet is like storing money at a suspicious bank: it’s unsafe and it behooves the investor to do enough research to sleep at night knowing their assets are safe.

WHAT IS A CRYPTOCURRENCY WALLET?

Every transaction in the blockchain shared record is signed by a private key linked to the user’s account. As we covered in the first blog in our cryptocurrency series, the blockchain is the decentralized mechanism that prevents double spending and validates transactions. Cryptocurrency wallets store the private keys. Although cryptocurrencies are not stored within the wallet, they are protected by the address created and stored by the wallet. Deciding on the right wallet for your cryptocurrency is one of the most important decisions since it will make or break the security of your assets.

There are five different types of wallets to choose from: mobile wallets, desktop wallets, hardware wallets, paper wallets and online wallets.

PAPER WALLETS

Paper wallets are the most basic form of wallet. They are an offline wallet consisting of two QR Codes. One of the codes is the cryptocurrency address and the other is the associated encrypted private key.

The benefit of a paper wallet is that it cannot be hacked. It is essentially a piece of paper that is stored in a safe place like a safe or safety deposit box. Unfortunately, while paper wallets may be exceptionally safe since they are unhackable, they are not exceptionally nimble. If you are looking to buy and sell cryptocurrencies frequently, this may not be the option for you.

ONLINE WALLETS

If you are new to cryptocurrency and have recently invested, chances are you are currently using an online wallet like Coinbase, Blockchain, or Xapo. Online wallets are run by third-party providers, so the security of currency is dependent on the company running the show. As the hack of NiceHash proves, this is not always the best thing. CoinBase insures their client’s investments and stores the majority of their cryptocurrency offline. While Online Wallets provide an easy avenue for buying and selling cryptocurrencies, storing cryptocurrency offline is significantly safer.

MOBILE WALLETS

Mobile cryptocurrency wallets are software wallets that make cryptocurrency available through mobile devices. One of the benefits of a mobile wallet is that merchants that accept cryptocurrency can use NFC technology to sync with their apps and provide wireless payments.

The most popular mobile wallets include Copay, breadwallet, and for Android users: Bitcoin Wallet. While mobile wallets make cryptocurrencies nimble, they are only as secure as the smartphone on which they are being used. Storing large amounts of cryptocurrency on mobile devices is not recommended, but they can be a good tool for investors who are buying and selling cryptocurrency on the go.

DESKTOP WALLETS

Like mobile wallets, desktop wallets are software designed for desktop computers. They are more secure than mobile wallets, but less nimble. Still, for those who want to secure their cryptocurrency and don’t mind being limited to their computer, desktop wallets are a great option.

Bitcoin Core is the original Bitcoin wallet, but it is somewhat techy and precarious to install as it requires downloading the entire blockchain.

Electrum is one of the most popular desktop bitcoin wallets. It’s easy to use and it can be configured for advanced features like TOR and cold storage, making it accessible to newbies with higher functionality for high-tech users.

Exodus features one of the best UIs available for a wallet. It allows users to instantly trade currencies stored within the exchange between themselves and it is partially open source.

HARDWARE WALLETS

Aside from paper wallets, hardware wallets are the most secure method of securing cryptocurrency. Hardware wallets are small computers, smartcards, or dongles created to generate private keys offline, securely signing transactions in the offline environment. Like paper wallets, hardware wallets cannot be hacked remotely and are as secure as the place in which they are stored. The only difference is that hardware wallets, like all technology, can lose functionality with age and improper upkeep.

The best hardware wallets are Ledger Nano and Trezor. Ledger Nano is a smartcard-based hardware wallet that can be used on any computer or Android phones with Mycelium or Greenbits mobile wallets. Trezor is a tiny computer, rather than a smartcard, but both upon set-up generate a random 24-word seed that backs-up the funds and can be used to recover all funds within the wallet. It is best to have a hardware wallet with its own screen, like Trezor, since hardware wallets that plug into the computer expose themselves to the security vulnerabilities of the computer.

TAKEAWAY

There are many ways to store cryptocurrency with varying levels of security. For those who are looking for the most secure method, hardware and paper wallets are the best route. For those who are looking to trade on the go, mobile and online wallets provide the best flexibility. Desktop wallets are the happy medium. So long as wallet options have been researched, cryptocurrency investors can rest easy knowing they made the informed decision.

Next week, for the next installment of our blog series on cryptocurrencies, we will explore the revolutionary mechanics of the Blockchain. Stay tuned!

Sink or Swim: Why Google Needs Andromeda to Compete with Apple

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Andromeda summed up in a graphic (Via thehackernews.com)

App developers commonly cite device fragmentation as one of their biggest peeves about the Android platform. While Apple keeps a stronghold on all iOS devices, Android allows third-party developers to create hardware for the platform. With a number of different devices all with different screen sizes, tech specs and OS capabilities, developers cannot efficiently optimize the end user experience of their apps for all devices as they can with iOS. However, Google is making a major move to create a more streamlined app ecosystem with Andromeda.

Rumors of Andromeda began when multiple independent sources revealed it would be announced at Google’s October 4th announcement. When October 4th turned out to be hardware-focused, the heat died down on Andromeda. However, in the big picture, Andromeda represents a necessary move in order to prevent Google from losing potentially billions of dollars to Apple in the years and decades to come.

WHAT IS ANDROMEDA?

The idea of Andromeda is to combine Google’s laptop OS (Chrome OS) and their mobile and tablet OS (Android). Chrome OS is not Google Chrome, the web browser you may or may not use every day, but their desktop operating system which works with Chromebooks. For the skinny on Chrome, check out this awesome breakdown:

https://www.youtube.com/watch?v=0QRO3gKj3qw

Rather than integrate Android features on Chrome OS, Andromeda will do the opposite and enable mobile devices with Chrome OS features. Mobile devices will begin to feel like an extension of one’s desktop. Rumored features include file organization, multi-modal windowing and compatibility between mobile and desktop apps. While the details have yet to be revealed, the concept behind Andromeda makes it a huge, necessary step for Google’s long-term future in the OS market.

WHY IT’S IMPORTANT

Andromeda will put Google in direct competition with the Mac OS X and Windows platforms. Apple has long been focused on device Continuity, the interchangeability between iOS devices. Their mobile (iOS) & desktop (OS X) operating systems are optimized to work together. By merging Google’s mobile platform with their desktop OS, Google increases cross-device functionality  and creates a strong incentive for consumers to keep all their devices within the Google brand.

THE INTERNET OF THINGS MAKES THIS SINK OR SWIM FOR GOOGLE 

The good news for app developers is in Andromeda’s long-term potential. Andromeda will enable developers to create apps which seamlessly function across devices: smartphones, tablets and desktops. As the IoT becomes domesticated, having a unified OS will mean big bucks for software companies looking to capitalize on home automation and commercial IoT products. In 10 years, consumers will be incredulous if they can’t control their coffee machine, change the channel on their TV and lock their doors on any of their devices. They want cohesive simplicity. If Google loses the OS battle with a less cohesive strategy than Apple, they will also lose the smartphone, tablet, TV and laptop.

CONCLUSION

Dennis Jones, CEO of payments technology company Judopay, put it this way for Developer-Tech: “Andromeda will be the foundation for omnipresence for Google-powered hardware, similar to Apple’s ecosystem… Andromeda is the foundation to enable this omnichannel world.”

Without Andromeda, Google would be dead in the water against the future omnichannel world Apple has been developing over the years. Who will execute better? Until the public sees Andromeda in action, the answer remains to be seen.

Rise to the Top of Google SEO with Responsive Design

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When designing a website, web developers have both practical and aesthetic concerns. From a practical standpoint, a website must reach and connect with its core audience. Due to the rise of mobile technology, it’s important for a site to have mobile functionality so that it can reach the multitudes surfing the web on their mobile devices. The most efficient, cost-effective & effective way is to develop a responsive website. Responsive design not only helps reach a mobile audience, it also increases overall SEO so that the website will rank higher in search engines.

For those unfamiliar with responsive design, check out this quick 60-second review:

When it comes to SEO, Google is king. As of October 2015, studies show the massive tech titan owns about 63.9% of the search engine market share. In February 2015, Google announced they will be emphasizing mobile-friendly search results. In their own words: “Starting April 21, we will be expanding our use of mobile-friendliness as a ranking signal.”

In accordance with their announcement, Google Adwords charges less for a keyword when the landing page is optimized for mobile. Responsive websites represent a major incentive for advertising on Google since responsive design guarantees presentation will accommodate the device regardless of whether it’s a mobile device or a computer.

Responsively designed sites offer a common landing page for all devices, consolidating the amount of links and improving the SEO. If a desktop or laptop user iMessages the link to an iPhone, they can click on it and immediately prompt the same web page rather than a different page optimized for mobile. Instead of duplicating content with separate sites for mobile and desktop mediums, responsive design ensures brand and information continuity with a singular master site.

According to Sociomantic, over half of online shoppers use more than one device. A responsive website not only ensures a consistent UI and brand experience, it eliminates maintenance cost by reducing the amount of websites one is required to maintain. The better a site is, the lower the bounce rate is, and the higher it will rank in Google. For businesses looking to succeed, responsive is almost always the best form of web design.

Mystic Media is a web design and application development company based in Salt Lake City, Utah and specializes in responsive design. For more information, click here or contact us by phone at 801.994.6815.