GreenBits is an application intended to be used in conjunction with another service known as GreenAddress. Offering personalized security and a user-friendly experience, this application is often used when Bitcoin transactions need to be made instantaneously. Unlike some other programs, this system is great for novices and anyone who might be learning about how the Bitcoin functions.
Core Features and Uses
GreenBits is provided with several beneficial accessories. Client-side SPV validation helps to heighten existing levels of privacy immediately prior to a transaction. In the event that a wallet is used by more than one individual, a multi-signature protocol is put into place. This guarantees that no single user will be able to access group funds. Such a firewall can be quite beneficial for crowdfunding or business uses. This platform supports other Bitcoin-related hardware such as KeepKey, Trezor and Ledger. It can be accessed via email, SMS or through the use of a standard smartphone.
GreenBits provides instant confirmations of all transactions when used in conjunction with GreenAddress. Should a service be interrupted or if a phone happens to be hacked, it is possible to recover any lost funds through the use of another open-source tools known as nLockTime. The TOR network is supported with this app.