Overview

18/01/19 09:48 UTC-4

Electrum Wallet: Bitcoin-Wallet description

Electrum-Wallet overview
Electrum-Wallet overview

Electrum Wallet is a Bitcoin-Wallet, which is considered one of the most popular "thin" crypto-wallets. The peculiarity is the speed of work, because the application does not require downloading the entire blockchain.

Sites to download Electrum: Bitcoin-wallet electrum.org, Dash-wallet electrum.dash.org, Litecoin-wallet electrum-ltc.org.

Interesting in the section: MyEtherWallet – browser wallet for Ethereum and ERC-20 tokens

Description and work principles

Electrum is a thin crypto-wallet for storing Bitcoin, Dash, Litecoin, Bitcoin Cash and SV coins. Features of Electrum Wallet: high speed, ease of interface, low use of additional resources.

Because Electrum uses the simplest method of checking SPV transactions, it is considered one of the fastest cryptocurrency services.

The key feature of SPV checking is that there is no need to download a full blockchain of cryptocurrencies. During the SPV boot, only block headers are indicated, which is of course much less than the data on all the transactions made. To verify the transaction in Electrum, the Merkle "branch" is launched.

Electrum supports integration with hardware wallets, such as Ledger, Trezor, Keepkey. Electrum Wallet is free software that operates under the MIT license.

Interesting in the section: World Mining: overview of the Cloud-Mining Service

Using Electrum Wallet

Electrum Bitcoin-Wallet has a portable version that allows you to make it a full-fledged hardware wallet. The address, access password and protection are transferred to a flash drive. While making money transfers through the hardware version of the wallet, simply connect the flash drive to the computer.

You can install Electrum-Wallet on Linux, Windows, OSX, Android.

The main disadvantage of the wallet is a low level of security. This is due to the SPV transaction verification system, which does not fix the content of all the blocks in the wallet.

Editor: Alyona Nabok

#ElectrumWallet, Bitcoin #Linux #Windows #OSX, Android #Dash #Litecoin #Bitcoin #BitcoinCash #SPV #Wallet

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