Secure Wallet Update: Get Ready to Go (Chain)!
Tags: Hot Wallet, Bitcoin, Blockchain, Gochain, Ecomi

Last month we saw the addition of more than 600 ERC20 tokens added to the Secure Wallet firmware and ECOMI app. This month the development of our innovative cold storage wallet continues as we add private key storage for GoChain! We also have a number of other developments in the pipeline so keep reading to find out what’s next!

What's Going on With GoChain?

As you may already be aware, GoChain is the blockchain platform underpinning ECOMI Collect. After a recent re-brand, the company is targeting high-end enterprise solutions and offers a range of services from systems architecture and development to blockchain education and training.

Moreover, GoChain has built its own scalable, high performance, low cost, and decentralised blockchain that supports smart contracts and distributed applications. The company has also instituted its own consensus algorithm, allowing for faster, cheaper and greener transactions across the network.

GoChain is the fastest, most reliable, web3 based blockchain protocol and client. Enterprise tough. — GoChain.io

With a network that can process up to 1300 transactions per second (and the expectation that this figure will soon climb to 13,000 tx/s) and partners that include:

ECOMI

BlockDaemon

IBM

Bittrex

Binance

Microsoft Azure

the GoChain platform is not only poised to explode, but it is also imperative that the Go token has a means of secure offline storage! Enter the Secure Wallet, the world’s most secure and convenient cold storage wallet, and soon to be home of GoChain! The update is available now, and once you access it you’ll also be able to store your GoChain private keys securely and offline.

We’re Turning up the Heat with Hot Wallet Functionality

Up next on the development timeline is the ability to also use the ECOMI app as a hot wallet. The term ‘hot wallet’ refers to any means of storing a crypto-asset on a device that has been, or is currently, connected to the Internet. Whereas a true cold wallet is any device that is not wired or directly connected to the internet, such as the ECOMI Secure Wallet.

Adding hot wallet functionality to the ECOMI app has a number of benefits, including:

More functionality and flexibility to choose how to store your cryptocurrencies and NFT’s.

The ability to create both hot and cold private keys using either the Secure Wallet or Secure Wallet app, and choose when to move those keys onto the Secure Wallet for more secure cold storage.

The ability to use the ECOMI app to store your crypto without the need for the hardware device.

Of course, the safest way to store your digital assets is offline on the Secure Wallet, however, if you do not have the ability to do so yet adding hot-wallet capabilities allows you to become familiar with the ECOMI app, and utilise our in-built security measures. If you’re unsure about whether a hot or cold wallet is the best choice for you, check out this article.

It is also an imperative step as we move closer to the launch of ECOMI Collect, for users to be able to store their digital collectibles (non-fungible tokens) within the app itself, without the immediate need for a hardware device.

In saying that, once hot wallet functionality has been added to the ECOMI app (expected to roll out by the end of the month) we will also begin to incorporate non-fungible token standards! Be sure to keep your app and firmware up to date to take advantage of all the latest features available, and in case you missed them check out some of our other recent Secure Wallet updates:

*** The Secure Wallet is available right now on our online store, and to celebrate these recent updates you can take advantage of a 10% discount and free shipping! Simply visit SecureWallet.Shop to purchase yours and start securing your cryptocurrency today ***