Frederick Munawa is a Know-how Reporter for Coindesk. He covers blockchain protocols with a particular focus on bitcoin and bitcoin-adjacent networks.

LUGANO, SWITZERLAND – Synonym, a Bitcoin software company, has launched Bitkit, a original Bitcoin wallet app that features portable internet profiles and passwordless internet accounts. The official announcement took place on Saturday at the PlanB Discussion board Bitcoin conference.

Bitkit is Lightning-compatible and leverages Synonym’s Slashtags protocol. Slashtags is a machine that uses Bitcoin cryptographic seeds to create portable internet profiles (that can be faded across extra than one platforms), automatically updated contacts, contact payment preferences and authentication with out a password.

The exhaust of Bitcoin cryptographic seeds (via Slashtags) to enable portability is what Synonym believes will achieve Bitkit apart from assorted Bitcoin wallets.

“Bitkit isn’t a typical Bitcoin app. Anyone can now take their digital lives with them wherever they whisk, obsoleting Broad Tech’s walled gardens and data surveillance,” said Paolo Ardoino, CSO of Synonym, in a release offered to CoinDesk. Ardino is also the chief expertise officer (CTO) of Tether, crypto’s greatest stablecoin by market capitalization.

The wallet app is available in restricted public beta mode for both Apple and Android units.

Synonym also announced Pear Credit, a collaboration with Tether, and Holepunch (a watch-to-watch software company). Pear Credit is an launch protocol that allows users to “recount centralized credit tokens with out a blockchain,” as tweeted by John Cavarlho, CEO of Synonym.

Finally, Synonym announced Blocktank Instant, a carrier that allows crypto exchanges to rapidly onboard users to the Lightning Network by outsourcing engineering and infrastructure requirements to Synonym.

“The offering eliminates the need for these companies to lunge Lightning infrastructure or hire specialized engineers. Exchanges can count on Synonym’s Blocktank node for instant deposits and withdrawals for their customers,” Synonym stated within the release.

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Frederick Munawa is a Know-how Reporter for Coindesk. He covers blockchain protocols with a particular focus on bitcoin and bitcoin-adjacent networks.

Frederick Munawa is a Know-how Reporter for Coindesk. He covers blockchain protocols with a particular focus on bitcoin and bitcoin-adjacent networks.