Kraken, a well-known cryptocurrency exchange, has taken a significant step towards enhancing the security of its Kraken Wallet by releasing its source code on GitHub. This move allows developers from around the world to review the code, potentially improving its quality and identifying any security vulnerabilities. By adopting an open-source approach, Kraken aims to bolster the wallet’s security and instill trust among crypto enthusiasts.
In addition to prioritizing security, the Kraken Wallet also places great emphasis on user privacy. The wallet collects minimal data from users, ensuring that their personal information remains confidential. It does not require login details, email addresses, or KYC data, and it even conceals users’ IP addresses. Kraken’s commitment to user privacy extends to the internal functioning of the app, as it refrains from gathering internal app performance metrics.
The Kraken Wallet stands out as a versatile tool that caters to various needs within the digital asset ecosystem. Apart from providing a secure platform for managing digital assets, the wallet also supports non-fungible tokens (NFTs) and facilitates decentralized finance (DeFi) operations. By venturing into the realm of open-source development, Kraken distinguishes itself from other major exchanges that offer similar solutions.
It is worth noting that the Kraken Wallet, despite its robust construction, is categorized as a hot wallet. This designation arises from the fact that iOS’s CryptoKit does not support secp256k1, the elliptic curve used in its design.
In other news, Shiba Inu investors have displayed unwavering commitment to their investments, with 75% of them holding onto their positions for over a year. This steadfastness reflects their confidence in the long-term potential of Shiba Inu, a popular meme-based cryptocurrency.
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