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SatoshiPay releases Solar, a new open-source multi-sig wallet for Stellar (XLM)

SatoshiPay releases Solar, a new open-source multi-sig wallet for Stellar (XLM)

SatoshiPay, a bitcoin and cryptocurrency payment company recently announced the launch of Solar, a multi-signature wallet for Stellar (XLM), that brings enterprise-grade security and features to the Stellar network.

Open-sourced for full transparency, Solar is built on a modern, web-based tech stack (React.js, TypeScript, Electron) to ensure it is stable, fast, and scalable. To assure stable and instant communication between Solar and the Stellar network from everywhere in the world, the wallet will connect to SatoshiPay’s very own recently launched globally distributed cluster of Stellar full nodes.

The SatoshiPay team focused much energy on getting the user experience fluid right from the start, they said, “Interacting with a cryptocurrency system should feel at least as easy as using a decent online banking app. Focusing on snappy response times and ease will get us there.”

SatoshiPay releases Solar, a new open-source multi-sig wallet for Stellar (XLM)
Solar: Account creation (left), account overview (center), co-signer management (right)

Solar comes with useful features including, asset management (one click to add the most popular assets like EURT or Stronghold’s USD, or RippleFox’s CNY), password-protection, encrypted key storage and multi-signature accounts). Yet, this is just the start as SatoshiPay plans on releasing many more significant updates in the months ahead.

Solar Roadmap
  • Mobile versions for Android and iOS
  • Support for decentralized exchanges (DEX)
  • Contact management
  • Two-factor authentication
  • Cold storage hardware support (Ledger, Trezor etc.)
Multi-Signature Security

With multi-signature authorization, developers can require all, or a subset of members in a group to approve a transaction before it’s valid. It also enables automated third-party services (i.e. oracles) to interact with wallets in a secure manner. With Solar, this becomes easy to put into practice.

The basic ability to create multi-signature transactions has been integrated into the Stellar protocol from the start. SatoshiPay’s Andy Wermke, who spearheads the Solar project, has been collaborating with Interstellar on shaping a proposal for an open standard. Currently, Solar has been implemented an alpha version of this multi-signature coordination service, allowing wallets to negotiate transactions with each other in real-time before submitting them to the Stellar network.

Solar is available as a desktop client for Windows, Mac, and Linux. Mobile apps will also be coming soon.

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