When I first heard of Ninkip2p, I was ecstatic. Finally, we have a PGP wallet we can use to keep our Bitcoin transactions even more secure? They also packaged it into a very clean and attractive interface, even allowing newcomers to be able to use this wallet efficiently. Below is a video that demonstrates the interface and usage of the wallet.
1. What sparked the idea of this wallet?
We plan on bringing peer to peer financial services to Bitcoin and so we were looking for a way to connect people together to transact without having to trust us with their funds.
2. PGP, what is it? What makes it significant?
PGP is an implementation of a number of cryptography techniques that allows two parties to perform an initial key exchange and there on afterwards have a secure and trusted channel to communicate on. We use it to verify a Bitcoin deterministic public key node exchange between users on our network. This means, after the initial exchange they never have to exchange Bitcoin addresses again, they can generate them on each other’s behalf. It also means that Ninki can cross check the address to make sure it matches the person you are trying to send too. This eliminates the threat of address spoofing and browser hijacking.
3. History of Development?
Development has been going on for around 8 months, it started with a prototype of a peer to peer lending system, however we soon realized that to realize our vision we would need a more sophisticated wallet implementation.
4. Why is 3 private keys required?
3 keys, 1 owned by us, 2 by you, means that you can always recover your funds, but we can also provide another level of security. We can cross check, validate and sign off on every transaction, allowing the user to set transfer amount limits and transfer velocity limits. They can also lock their accounts down to only receiving or sending money to trusted parties on the network.
5. Whom do you see this being used by?
I see this being used by everyone, but particularly people who make recurring payments to other parties across the world. Eg. IT freelancers working for a number of clients spread around the world, but in the future all business to business transactions
6. Current Status?
Alpha testing phase 1 on testnet. Plan to go live in 2-3 months time
7. In comparison to how other Bitcoin wallets work, how does your wallet differ?
We connect people, we have a very high level of security and our user experience is second to none.
8. Future Development plans?
Too many to mention! This is just the beginning, we plan to build a plethora of financial services on top of this platform and change they way people store and exchange value.
For more information: https://www.ninkip2p.com/
Photo Source: Client Given