If you’re using a multisig wallet for added security, regarding having a backup key in case you lost one of the wallets that act as a co-signer, or to protect yourself from an immediate five-dollar wrench attack, but don’t like how it’s more costly to conduct transactions, as well as how you’d be exposing your other connected wallets when you sign a transaction from your Multisignature wallet, as well as having the inconvenience of dealing with multiple multisig wallets for different blockchains, then out of all the multi-signature wallets that are out there, WH Cypher is a new non-custodial multi-signature wallet that addresses all of these issues with its use of Threshold Signature technology, as well as having support for multiple blockchains.
The ultimate cryptocurrency Multisignature wallet?
WH Cypher’s use of the Threshold Signature technology provides you with all the benefits of a normal multi-signature wallet, but without the drawbacks.
You’ll be able to create any n of m multisig wallets, where it would request the minimum number of signatures required to properly sign the transaction that would create, but the difference is that the outgoing transaction would look like a normal single transaction.
What are the implications of this? Since it looks like a single transaction with one public and private key, with one single signature, the file size of the transaction is much smaller than that of a normal multi-signature one, where it would usually include all the signatures of the co-signers, meaning that the transaction fee that you have to pay is much lower than that of a normal multisig one. The other benefit is would be that the co-signers are not known, which massively increases your privacy, as a result, increase your security as well.
Because of this method that a Threshold Signature multisig wallet uses, there is not a single point of failure WH Cypher has.
WH Cypher wallet’s use-cases
Considering this is a Multisignature wallet, one that uses better technology than the rest with little to no downsides, you’ll be able to benefit from its use by:
- Secure your funds, with multiple backups, with increased privacy, as a result, you’d even have more security.
- Store multiple cryptocurrencies like Bitcoin, Ethereum, Tron and others, in a multi-signature wallet setup, instead of having different multisig wallets scattered all over the place.
- Conduct peer-to-peer (P2P) trades on a decentralized exchange (DEX), like WhalesHeaven, without losing custody of your funds, and only allowing trades to go through on your confirmation by signing off on a transaction to go through.
WH Cypher was released and you can install it on your browser and start using it immediately. When you do, the development team would love to hear your feedback on it in the official WhalesHeaven telegram group so that they can improve it even more, with better UX, UI, increased performance, and more support for various new blockchains.