Bitcoin Vault

In 2009 an anonymous individual or team of anonymous developers created the first peer-to-peer network based on the blockchain technology that allowed users to transfer funds between anonymized hash addresses. Bitcoin revolution had begun. It resulted in a series of forks of the original concept.

One of them has led to the concept of Bitcoin Vault.

Our aim as developers was to upgrade the existing blockchain with unique features that would give users more control and raise their safety level with the way wallets addresses are managed, private and public keys are stored, and assets are transferred between individuals. We wanted to create a coin that would offer all the advantages of Bitcoin with additional features for users to have maximum control of their assets in an easy and convenient way without compromising the flexibility that cryptocurrencies offer.

With immutability of the blockchain as the key feature behind distributed ledgers, we saw not only advantages but also – from our own experiences – dangers related to lost, misplaced or stolen funds. With several changes into the code and the way how private and public keys are used in the blockchain ecosystem we came up with an idea of making irreversible transactions reversible without compromising the immutability of the blockchain.