Bitcoin private key splitting for cold storage

a technology of bitcoin and private keys, applied in payment protocols, social networks, instruments, etc., can solve the problems of bitcoin addresses, existing systems do not provide a solution for maintaining bitcoin address security, and block chain verification may take a long time to compl
US20150262171A1Inactive Publication Date: 2015-09-17COINBASE
3 Cites 108 Cited by

Patent Information

Authority / Receiving Office
US · United States
Current Assignee / Owner
COINBASE
Publication Date
2015-09-17
Estimated Expiration
Not applicable · inactive patent

Smart Images

  • Figure 1
    Figure 1
  • Figure 2
    Figure 2
  • Figure 3
    Figure 3
Patent Text Reader

Abstract

A system and method for transaction bitcoin is described. Bitcoin can be sent to an email address. No miner's fee is paid by a host computer system. Hot wallet functionality is provided that transfers values of some Bitcoin addresses to a vault for purposes of security. A private key of a Bitcoin address of the vault is split and distributed to keep the vault secure. Instant exchange allows for merchants and customers to lock in a local currency price. A vault has multiple email addresses to authorize a transfer of bitcoin out of the vault. User can opt to have private keys stored in locations that are under their control. A tip button rewards content creators for their efforts. A bitcoin exchange allows for users to set prices that they are willing to sell or buy bitcoin and execute such trades.
Need to check novelty before this filing date? Find Prior Art

Description

CROSS-REFERENCE TO RELATED APPLICATIONS

[0001] This patent application claims priority from U.S. Provisional Patent Application No. 61 / 954,434, filed on Mar. 17, 2014; U.S. Provisional Patent Application No. 61 / 990,017, filed on May 7, 2014; U.S. Provisional Patent Application No. 62 / 042,676, filed on Aug. 27, 2014; U.S. Provisional Patent Application No. 62 / 056,100, filed on Sep. 26, 2014; U.S. Provisional Patent Application No. 62 / 086,669, filed on Dec. 2, 2014 and U.S. Provisional Patent Application No. 62 / 099,992, filed on Jan. 5, 2015, each of which is incorporated herein by reference in its entirety.BACKGROUND OF THE INVENTION

[0002] 1). Field of the Invention

[0003] This invention relates to a computer system and method for transacting bitcoin.

[0004] 2). Discussion of Related Art

[0005] The Bitcoin network is a peer-to-peer payment system having a plurality of nodes that are connected to one another. Bitcoin exchange computer systems allow for users to exchange local currency into or ...

Claims

the structure of the environmentally friendly knitted fabric provided by the present invention; figure 2 Flow chart of the yarn wrapping machine for environmentally friendly knitted fabrics and storage devices; image 3 Is the parameter map of the yarn covering machine
Login to View More