Blockstream Acquires Bitcoin Wallet GreenAddress to Advance Sidechains Project

Open source blockchain developer Blockstream, notable for its endeavor for developing sidechains for the bitcoin blockchain has acquired multi-wallet provider GreenAddress. The acquisition, it says, will help the strengthen its sidechain platform.
In an announcement yesterday, bitcoin blockchain-centric Blockstream revealed its acquisition of European multisig bitcoin wallet GreenAddress, in a move that will further accelerate its sidechains development platform.
Founded in 2014, Malta-based GreenAddress was among the earliest bitcoin wallets to provide features like per-transaction two-factor authentication, multi-signature and a deterministic design at its core which enables users more control over transactions. One of its ‘key features’, as Blockstream President Adam Back states, is the complete avoidance of storing users’ private keys.
‘GreenAddress’s excellent reputation is the product of a three-person team with a deep commitment to Bitcoin,’ Back wrote, in a blog that revealed the acquisition.

This post was published at Crypto Coins News on 28/07/2016.