The wallet leverages open-source software and bitcoin encryption to enable its users to custody not only BTC, but personal user data as well.
Synonym, a Bitcoin and Lightning Network service provider, has released the Bitkit Wallet, a mobile bitcoin wallet for both Apple and Android devices, per a release sent to Bitcoin Magazine.
The wallet boasts many features such as: portable social profiles, dynamic payable contacts, interoperable data feeds, and passwordless web accounts. Additionally, the wallet uses Bitcoin cryptographic seeds to generate keys for the company’s newly developed web protocol called Slashtags.
Slashtags enables users to take control of their data. The protocol does not require a blockchain, includes uncensorable social profiles, automatically-updated contacts, contact payment preferences, passwordless authentication, and some additional features as well.
“Bitkit isn’t a typical Bitcoin app,” said Paolo Ardoino, CSO of Synonym. “The Synonym team have managed to take wallets to the next level with a beautiful design and innovative useful new features that will help ensure hyperbitcoinizaion.”
The Slashtags protocol is open-source and modular allowing the ecosystem to be widely accessible to builders. In fact, the company even released a software development kit which serves as a sandbox or “Playground” which developers can use to simulate various Slashtag use-cases.
“As more and more people lose control of their data to Big Tech companies, and lose control of their assets to Big Banks and institutions, we felt the need to create open alternatives that empower civilians to reboot the Web and the economy,” said John Carvalho, CEO of Synonym.
Moreover, on stage at the recent PlanB Forum, Synonym announced two new initiatives. Pear, a tokenized credit system for assets, products and services, and the Blocktank Instant. Blocktank allows exchanges and wallet providers to quickly onboard users to the Lightning Network.