BitGo Unveils Open-Source Bitcoin Key Recovery Service

Bitcoin security platform BitGo announced the launch of the first automated open source Key Recovery Service (KRS) software that allows generating, securing and storing private backup keys, which should make it one of the most secure Bitcoin vaults in the world.
A major problem Bitcoin wallet users encounter is the security of the keys. While most new secure wallets implement multi-signature, in which 1 or 2 keys are created and stored by the user, a problem arises when the user forgets one of the passwords as they would then lose access to the wallet and its contents. However, BitGo’s new software and 2-of-3 key model are configured to eliminate such a danger.
Ben Chan, Platform Lead, BitGo commented:

This post was published at Coin Telegraph on 2015-10-30.