Bitmain purchased the company-developer of Bitcoin wallet for Cash
Mining company Bitmain on Monday announced the purchase of a startup that developed an open source wallet for storing Bitcoin Cash called Telescope. This writes CoinDesk.
Browser-based wallet to make instant transactions, Bitcoin Cash was launched this year. Currently, the Telescope is available in Google Chrome and Mozilla Firefox, however, in the future the team plans to expand the number of supported platforms.
Wallet is supported by BitPay and moneybutton.com and allows to store cryptographic keys in browser extension, making the signed transaction directly to the user’s browser. The project claims that the proposed mechanism key retention is not inferior to security solutions based on their own platforms.
Chapter Bitmain for international relations, Nishant Sharma said that the Telescope brings to the ecosystem Bitcoin Cash “simple but valuable innovation”. “Embedded in browsers purses is a promising technology. The Telescope team does a very interesting job and we are waiting for the moment when we can work with them on a project Telescope and future projects Bitcoin Cash”, he added.
According to the previously published documents, Bitmain owns about 6% of total emissions Bitcoin Cash. The investment decision was perceived ambiguously, considering that her assets are depreciated during the bear market of 2018. In the beginning of the year Bitmain held about $900 million in bitcoin, however over the past 10 months, this amount decreased by approximately 20%, according to CoinDesk.
In August Bitmain have provided funding for the project, developing a digital advertising platform based on Bitcoin Protocol Cash.