Square will publish the source code of its storage
Square's mobile crypto payment processor is launching its open source solution for cold storage of bitcoins.
ALok, Menghrajani, engineer, security Square, has published a blog post on Tuesday, stating that the documentation, code and solutions for cold storage bitcoin vault Subzero is now available in the repository company Github.
Mengrajani said that " Square uses Subzero to store bitcoin assets on behalf of its users in a standalone environment based on the hardware security module (HSM)" - the same technology that Square uses to store encrypted keys for other payment services.
Mengrajani added that since the underlying HSM is" programmable", the company has developed a technology that allows you to send bitcoins from a hot wallet to a cold storage at any time. However, when you make a reverse transaction, the program requires a multi-signature to initiate the delivery of bitcoins from the offline store to the online wallet.
In addition, Menghrajani said programming can also ensure that certain predefined rules, for example, sending bitcoins from cold storage to the address belonging to the Square. Responsible for security added:
HSM is programmable, allowing us to support bitcoin wallet today, providing flexibility to implement other protocols in the future.
Square, founded by Twitter's co-founder and CEO, Jack Dorsey, first announced its intention to offer a trading service for bitcoin through its Cash App in November last year. The firm also expanded into bitcoin trading in all 50 us States in August of this year after the business project earned a small profit in the first two quarters in 2018.