Parity releases a new version of the app, turning the phone into an offline wallet

According to Coindesk's October 3 report, Parity Technologies has released a new version of Parity Signer, a mobile app that turns old smartphones into cryptocurrency offline wallets.

On Wednesday, the company released a beta version of Parity Signer version 3.0, which will allow users to store assets, vote for the chain management solution, sign the transaction online, and integrate the Polkadot and Ethernet Square blockchain.

Screen Shot 2019-10-03 at 7.53.07 PM (Source: coindesk )

Offline wallets protect the holders from hackers and malware. Parity recommends that users keep their flight mode when running the app.

The company stated:

To keep your money safe, mobile phones containing your Parity account should not be connected to the Internet, or even connected to other Internet devices (such as computers). Users should also clear the identification information on the phone before downloading the app.

The new version of Parity allows users to create Kusama accounts to connect to the Polkadot-js app. The user will receive a recovery phrase and select the Pin code to sign the transaction. The transfer does not involve the use of a private key, but rather two-way communication between the hot wallet and the cold signer by utilizing industry-standard QR codes.

Parity was founded by Jutta Steiner, former security director of the Ethereum Foundation, and Gavin Wood. The company is primarily a decentralized web development tool, and the company has developed Substrate, a tool that allows users to create custom blockchain services for decentralized applications.

In January of this year, Parity received a $5 million development grant from the Ethereum Foundation.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Policy

The Crypto Circus: A Bug’s Billion-Dollar Bonanza

During the 10th day of Sam Bankman-Fried's trial, talks focused on a software glitch and the allocation of funds for ...

Blockchain

DeSpread Research Data Analysis of Centralized Exchanges and Investor Behavior in South Korea

According to a survey by the Korea Financial Intelligence Unit (KoFIU), it is expected that the number of cryptocurre...

Blockchain

SBF Trial Week 3 Former FTX Head of Engineering Nishad Singh appears in court, confesses to embezzling user funds for political donations.

With the appearance of former FTX Engineering Director Nishad Singh, the third week of SBF's trial has begun. Singh's...

Blockchain

Lawyer's point of view | Analysis of the regulatory environment behind the investigation of the currency exchange

Author: Hu Tao Source: The chain catcher's recent investigation of the currency exchange has triggered industry ...

Market

Fortune Magazine From ambitious to defensive, what twists and turns has the crypto queen Katie Haun experienced?

Cryptocurrencies may experience cyclical fluctuations, but this time the trough is much steeper than investors expect...

Blockchain

A new attempt at traditional finance, the technology of the Stock Exchange enters the currency circle

In January 2019, the London Stock Exchange Group announced a partnership with the digital asset trading platform AAX,...