Bitcoin, not blockchain: Synonym launches mobile BTC wallet
Bitcoin and Lightning Network service provider Synonym has launched a new BTC-focused mobile wallet it says could enhance the user experience for holders of the flagship digital currency — and broaden Web3 adoption without relying on convoluted blockchain applications.
Synonym unveiled its mobile Bitcoin (BTC) wallet, dubbed Bitkit, at the PlanB Forum in Lugano, Switzerland on Oct. 29. The wallet supports BTC and Lightning Network payments with a self-custodial node and encrypted backup service, which users can utilize free of charge. Bitkit is being launched as a limited public beta app for both Apple and Android devices.
The Bitkit app is being powered by Slashtags, a Bitcoin cryptographic seed that generates keys and gives users simultaneous control over their data and money. Through Slashtags, Synonym claims that Bitkit will power Web3 “without using a blockchain at all.”
Paolo Ardoino, who serves as Synonym’s chief strategy officer, said the new app would help promote “hyperbitcoinization,” a term that describes a future state where Bitcoin is more widely used as a default value and payment system.
Super excited to have announced Pear Credit at #lugano Plan B.Pear Credit is a P2P transport layer for credit, leveraging lighting-style channels born from the collaboration between @Tether_to holepunch ( @keet_io ) and @Synonym_to ⚡️
The launch of Bitkit also coincided with the release of Blocktank Instant, a Synonym-led service that enables cryptocurrency exchanges to onboard users to Lightning Network without having to run Lightning infrastructure or hire additional engineers.
Related: Asset management firm launches BTC Lightning Network startup accelerator
Speaking to Cointelegraph on the sidelines of the PlanB conference,
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