BitVault employs time-delayed transactions and a multisignature convenience service to protect Bitcoin assets from physical attacks and digital hacks. This non-custodial, open-source wallet ensures that even if a user is coerced into revealing their keys, their funds remain secure due to the built-in time delay feature.
Funding
Funding not disclosed
Founders
Product
Problem
Bitcoin users face risks from both physical theft and remote hacking attempts, potentially leading to irreversible loss of funds if private keys are compromised. Traditional wallets offer limited protection against coerced key disclosure or sophisticated cyberattacks.
Solution
BitVault is a non-custodial, open-source Bitcoin wallet that employs time-delayed transactions and a multisignature convenience service to mitigate the risks of theft and hacking. The wallet's time-delay feature ensures that even if a user is forced to reveal their keys, the attacker cannot immediately access the funds, providing a window for recovery. The multisignature setup adds an additional layer of security, requiring multiple approvals for transactions. BitVault also integrates with Bitcoin layer-2 networks like Liquid and Lightning, offering users a secure and versatile experience across different Bitcoin platforms.
Target Audience
BitVault targets Bitcoin users who prioritize security and control over their funds, including individuals concerned about physical threats, sophisticated cyberattacks, and the risks associated with custodial solutions.
Features
- Time-delayed transactions, allowing users to pre-set a waiting period before funds can be moved
- Multisignature support, requiring multiple keys to authorize transactions
- Integration with Bitcoin's Lightning Network for faster and cheaper transactions
- Compatibility with the Liquid Network for confidential transactions and token issuance
- Open-source code, allowing for community review and transparency
- Non-custodial design, giving users full control over their private keys
- Real-time fee optimization based on mempool data, ensuring cost-effective transactions
- "Owl wallet" alert notification system that sends encrypted warnings to a designated recovery wallet