coolBitx: Hardware wallet

Hi guyz!! I hereby introduce CoolBitX’s as a revolutionary mobile cold storage hardware wallet for your Bitcoin, Litecoin, Ethereum, Ripple, Bitcoin Cash, and ERC20 Tokens. Users will be able to exchange and add any ERC20 they own directly onto cold storage. The future of payment begins with this Bluetooth wallet!

Introduction

CoolBitx is a revolutionary decentralized programmable economy mobile cold storage that aims to provide high-performance processing speeds for online transactions.

The aim of this platform is to proffer solutions to the technical issues that faces the current blockchain networks e.g. Bitcoin and Ethereum. The coolbitx mobile wallet comes with truly innovative architecture and protocols that aims to provide automated services leveraging the power of smart contracts, and also providing an avenue to securely connect to external systems.

Traditional blockchain networks can be insecure when it comes to connecting to external systems which expose these networks to malicious hackers. But Coolbitx has implemented an E-bridge layer that retrieves data from multiple data sources when the cold storgae interacts with external systems.

This data is also encrypted with a fool-proof Median Voter Theorem (MVT) that protects the data from malicious attacks from hackers. Coolbitx provides the following solutions to the existing Hardware blockchain problems:

Increased Scalability/Performance

Secured Connectivity

Increased Scalability/Performance

One of the areas in which Coolbitx has improved the ecosystem is in terms of increased performance. Coolbitx combines the use of Namespaces and Merkle Tree which isolates transactions based on a particular namespace thereby ensuring increased performance and scalability.

The execution of smart contracts on this platform is based on parallel processing by the namespace. This ensures that the coolbitx platform is able to carry out a vast number of transactions simultaneously in parallel. It is worthy of note that coolbitx is a permissioned blockchain which enables smart contracts to run quickly and efficiently in a trusted environment.

A permissioned blockchain enables smart contract transactions to be carried out on some selected nodes rather than all the nodes in the system. Current blockchain networks like bitcoin and ethereum uses permissionless blockchain which means smart contracts run on all the nodes in the ecosystem but coolbitx deviates from this to use a protocol which refuses to burden the whole nodes in the ecosystem thereby improving performance and scalability.

Secured Connectivity

Connecting to external systems is also an area in which the current blockchain networks are less efficient in terms of providing a secure protocol that connects to external systems. Coolbitx solves this seemingly huge problem by implementing the E-Bridge layer.

The E-Bridge layer is a core protocol that acts as a secured software bridge connecting the on-chain with the off-chain. Transferring of data within a blockchain network can be secured with the use of consensus algorithm but the transmission of data between on-chain and off-chain networks could be prone to attacks by hackers if not done in a secured manner.

For more information

Website: https://coolwallet.io

Reddit: https://www.reddit.com/r/CoolWallet/

Telegram: https://t.me/CoolWalletS

Twitter: https://twitter.com/coolwallet

Facebook: https://www.facebook.com/coolwallet