Bitcoin Armory Secure Wallet – Cold Storage Private Key Security?
Bitcoin Armory Secure Wallet is a Python-based fully-featured bitcoin wallet software. Find out how this open-source software works today in our Armory wallet review.
What is Bitcoin Armory Secure Wallet?
Armory was the first open-source wallet with cold storage and multi-signature support. The wallet software is available for Windows, Mac, and Linux. After the wallet’s original creator stopped updating the code in February 2016, a team of new developers took over. Today, you can download version 0.96.0 of Armory by visiting the official website at BitcoinArmory.com.
Armory is updated by a team of developers under the name Armory Technologies, Inc. The latest Armory wallet update took place in May 2017, when they released version 0.96.0.
The Armory wallet is particularly popular because it works with the Glacier Protocol, the famously secure, air-gapped, cold storage system for bitcoins. Whether you’re using the Glacier Protocol or you’re just looking for an easy software-based cold storage solution, Armory is one option available for free today through BitcoinArmory.com.
How Does Armory Work?
Armory is a Python-based bitcoin wallet software. It’s open source, which makes it an option for building bitcoin apps like exchanges and crowdfunding platforms. It’s also a cold storage system with multi-signature support – which is the type of wallet that anyone serious about bitcoin should strive for.
Another key feature of Armory is that it’s available for free.
Unlike certain other bitcoin software, you don’t need to know anything about coding to use Armory. It’s a straightforward piece of software to use, and it’s designed to be as user-friendly as possible.
Finally, Armory works with one of the best security protocols in the world of bitcoin today – the Glacier Protocol. With Armory, you can store your bitcoins on a completely air-gapped offline computer while still being able to access and spend your cryptocurrency.
Bitcoin Armory Secure Wallet Features
- Available for Windows, Mac OS X, and Linux
- Licensed under AGPL v3
- Supports offline, cold storage wallets
- Toggle between Standard, Advanced, and Expert modes to allow different customization options
- Decentralized multi-signature lockboxes
Ultimately, the main feature of Armory is that you can create a secure offline bitcoin wallet. With Armory, you can manage that wallet on a computer that never touches the internet – an air gapped system. All secret private key data is available only on the offline computer, which greatly reduces the attack surface for an attacker attempting to steal bitcoins.
The fact that Armory keeps its private key data on the offline computer means that only someone with physical access to the offline computer can steal your bitcoins. The actual process of accessing your bitcoins – including creating a transaction and signing it with the offline computer – takes about a minute, and then you can broadcast it to the network for bitcoin miners to include it in the block.
Even if someone did get physical access to your computer, it would take “centuries for them to get through the advanced wallet encryption”, explains the official Armory website.
Who Created Armory?
The original Armory developer, Alan Reiner, stopped updating the code in February 2016, at which point a new team of developers took over. That new team comes from a background in cryptography and private key ceremonies. The original development team collaborated with Verisign on developing an innovative Identity Verification Specification for establishing trust on the internet, for example.
Key members of the team include the original developer, Alan Reiner, CEO and founder, who previously spent seven years at Johns Hopkins Applied Physics Laboratory developing real-time image and video processing algorithms for missile defense. Other key members of the team include Senior Developers Andy (CircusPeanut), Doug (doug_armory), and Charles (njaard).
The company also has a number of cryptographic technology specialists listed as advisors.
You can get in touch with Armory Technologies by email today at [email protected]
Bitcoin Armory Secure Wallet Conclusion
Ultimately, Armory pioneered offline bitcoin wallets and cold storage solutions. In February 2016, Armory’s original creator, Alan Reiner, announced he was leaving the project. However, developers continued to work on the project, and new releases have started launching online once again. In May 2017, Armory released version 0.96.0.
The wallet is a cold storage solution for Windows, Mac OS X, and Linux. It’s available for free today through BitcoinArmory.com