ChainFront Announces Support for Bitcoin
CHICAGO, March 20, 2019 (GLOBE NEWSWIRE) -- ChainFront, an API-as-a-Service company that removes the complexity of using, building, and managing blockchain wallets while maintaining enterprise-grade security, today announced the launch of Bitcoin integration to the ChainFront API platform. Now, developers creating applications built on the Bitcoin blockchain can eliminate the need for end users to manage their own security and bank.
ChainFront allows developers to provide their users with a secure and easy way to approve transactions without the need for them to manage their own private keys. With the launch, developers can enable end users (be they consumers or inside an enterprise) to easily execute transactions with username, password, and multifactor authentication. Developers building applications to execute Bitcoin transactions can request an API key at https://developers.chainfront.io.
“Bitcoin is the most widely adopted and used public blockchain network with the greatest number of global active users and activity,” said Alan Warms, CEO, ChainFront. “ The growing excitement and focus on DeFi in crypto by definition includes a renewed focus on Bitcoin as an asset class and making it as useful and accessible to as many institutions and individuals as possible. However, wallets still present a challenge to application developers and their subsequent end users. With the launch of our API for Bitcoin, ChainFront has created a way for developers to remove the complexity for anyone interacting with Bitcoin.”
Blockchain wallets allow end users to store private keys and execute transactions. However, if a user loses their on-device wallet (e.g., on a mobile device, or browser) via a hack, theft, loss of the device, or an upgrade, and they fail to back up their private keys, their ability to execute transactions and access their cryptocurrency is gone forever.
With ChainFront, backing up keys and keeping track of an on-device wallet is completely removed from the equation, and developers can create secure, simple user experiences. Private keys are created within the secure area and never transmitted elsewhere. ChainFront uses Vault by HashiCorp as a virtual Hardware Security Module. Vault is a secret key management and data protection tool, which offers code-loading support and powers all of the cryptographic operations in the ChainFront platform. The service is deployed in private subnets of Amazon Web Services (AWS), unreachable via the public internet, using the AWS security model. This security model provides confidentiality, integrity, availability, accountability, and authentication. AWS also provides multi-regional backups and redundancy. FIPS 140-2 compliance is available.
About ChainFront: Killing the Blockchain Wallet with Simple APIs ChainFront is an API-as-a-service company that removes the complexity of using, building, and managing private and public blockchain wallets, while maintaining enterprise-grade security. With ChainFront, developers building blockchain applications can create seamless experiences for their customers, make the crypto layer of their applications invisible to the end user, and manage complex multi-signature transactions via two-factor authentication. Led by a former lead architect at Oracle and a serial entrepreneur with multiple successful exits, ChainFront’s vision is to enable mass blockchain adoption ushered in by a higher level of security and usability for the next wave of crypto applications.
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