Copay is a multi-signature wallet built on BitPay’s Bitcore, an open-source platform for Bitcoin- and blockchain-based applications. Copay multi-sig wallet is a shared Bitcoin wallet, in which each owner holds a unique private key and the ability to push out payments or withdrawals.
The Copay multi-signature wallet provides a convenient flow for sending funds from shared wallets which small or co-owned business could greatly benefit from. For example, a small online business on e-commerce platforms such as E-Bay or Amazon could adopt the Copay wallet to combine the budget of the business into one shared wallet and then allocate the expenses through approvals from different departments of the company.
Furthermore, the Copay multi-signature wallet brings the security of Bitcoin wallet into a whole new level. Even if a Bitcoin wallet service provider or exchange were ever compromised, the private keys would not be, so the possessed Bitcoin would not be affected.
Copay wallet also supports the Bitcoin testnet on both iOS and Windows Phones. This feature allows developers to create / test new Bitcoin applications across different platforms with ease. This may also pave the way for additional blockchains to be added to the Copay wallet, including altcoins or other blockchains built on top of the Bitcoin protocol.
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