A new wallet, Bitkit Bitcoin Wallet, has just been made available on popular mobile app stores by Synonym.
Bitcoin enthusiasts interested in self-custody alternatives now have a new tool. On Thursday, Synonym, a Bitcoin software company, announced the official launch of the Bitkit wallet on the iOS and Android app stores. This wallet gives users complete control over their Bitcoin (BTC) holdings, eliminating the need for intermediaries.
The transition from beta testing to public release is a significant breakthrough for Synonym in pursuing its vision. John Carvalho, the CEO of the company, reiterated this vision and fundamental value:
“Bitkit is more than a typical Bitcoin wallet…it is fundamentally designed to empower users with self-custody.”
Indeed, this method contrasts custodial wallets, which require users to entrust their assets to a third party.
Bitkit to Provide a Successful Blend of Security and Usability
Bitkit is intended to appeal to a wide range of users and is built with security and user-friendliness in mind. The Lightning Network, a payment technology that is both faster and more cost-effective, is utilized by the wallet to effectuate both on-chain BTC transactions and transactions. In the interim, the organization prioritized user feedback over the previous year. That occurred during the beta phase. This has facilitated the refinement of the interface and the resolution of any flaws, resulting in a seamless user experience.
Another significant feature of the self-custody wallet is its ability to maintain the fundamental nature of Bitcoin. The phrase “Not your keys, not your coins” is not a jest for Bitcoin absolutists, who appreciate the decentralized nature of the cryptocurrency. According to Carvalho, the same philosophy applies to Bitkit, which is extraordinary in its dedication to user control.
The CEO also emphasized the necessity of an alternative to the recent proliferation of custodial wallets, which have dominated the Lightning Network space. Therefore, the impetus for the development of Bitkit was a countermeasure to the increasing reliance on centralized systems.
Additional Plans Are in the Works
Even though Synonym has already implemented a robust self-custody solution with Bitkit, there is space for further enhancement. The team disclosed that it has a “comprehensive rewrite” lined up for the post-launch period. This implies that the developers are enthusiastic about conducting a comprehensive re-evaluation and potential redesign of the wallet’s fundamental code, architecture, and features.
Performance optimization, optimization, and security enhancements are typically the primary objectives of a process like the one the team is devising. Future enhancements and other additions will be enabled by this overhaul, which is based on user feedback.