Bitcoin Security Rectifier can introduce a middleman that Bitcoin omits by design. Users often don’t know this, and app developers aren’t necessarily forthcoming with the information. As the lead researcher says, more than 90% of users are unaware of whether their wallet is violating the decentralised design principle, based on the results of a user study. And if an app violates this principle, it can be a huge security risk for the user.
For example, it can open the door for an unscrupulous app developer to simply take a user’s Bitcoin. Therefore, it is suggested that the best way users can safeguard themselves is to not use a smartphone wallet app developed by untrusted developers.
The Bitcoin Security Rectifier app is designed to run at the same time on the same phone as a wallet, where it monitors for signs of intrusions. The app alerts users when an attack is happening and provides remedies based on the type of attack, as developers said. For example, the app can add ‘noise’ to outgoing Bitcoin messages to prevent a thief from getting accurate information.
The team is currently developing the app for Android phones and plans to have it available for download in the Google Play app store in the coming months. There is currently no timetable for an iPhone app because of the additional challenges and restrictions posed by iOS.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now