Cryptocurrency

Meet the Multi-Level Security With Multi-Signature Support In The New Exa Wallet

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On 3rd June, Monero made an announcement on Twitter about the launch of its multi-signature backed Exa Crypto Wallet. It is a mobile wallet that is rich with a lot of features. The company has released the first main-net version of the mobile crypto wallet.

iOS and Android Platforms and the possibility of f-droid:

The Exa wallet is available for both iOS and Android operating systems. One can download the app either from Apple’s iTunes store or from Google’s Play store, depending on their choice of platform. On the Reddit platform, the company has even provided specific links from where the users can download the mobile crypto app.

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If one is interested in getting the source code of the mobile crypto app, then it is available at GitHub. You simply need to add Android or iOS in the extension while looking for it. The company has also provided specific links from where the users can look up the source code on the Reddit public post.

One should note that as of now, the mobile crypto wallet- Exa Wallet does not function on the Android platform without the support from Google Apps. The reason lies in the fact that to maintain shared wallet quality, pushing notifications becomes a requisite, and therefore, it renders the dependency on the Google Apps.

The company is looking into pushing it in the f-droid too at the moment. So it would be interesting to see when and how it gets manifested.

What are the charges for this app?

The Exa crypto wallet does not charge you any money. Moreover, when the user makes any transaction, the wallet does not add any further costs either.

The Crypto wallet’s technicalities:

Although the crypto wallet is the first main-net version, it is a fully functional wallet. It is not a light version of the crypto wallet. “Limonero” is the basis on which the crypto wallet has been constructed. It is along the lines of “Monerujo”- Monero’s official wallets. The company has clarified that it has added a new set of “patches” to make it more solid and effective various mobile devices. These patches include “upstream.” You can find the link to the patches in the Reddit public post too.

On the other hand, the Exa Wallet for mobile devices does not support hardware wallet at the moment. According to the company’s Reddit post, Monero is looking into “working to support Ledger Nano S / Nano X in subsequent releases.”

When the user syncs the restored wallets, it takes a while. In order to speed up the process, one can set the “initial height or date or create a new wallet.” The funds can then be transferred to the new wallet. “Fastsync”- a new extension will be soon included in the next release for speeding up the process further.

How does it work?

A remote backend service is used for performing the transactions between various crypto wallets. The security is ensured with the help of secure connections and encrypted sessions. The details of the transactions (i.e., new proposals and output) are open for the mobile devices that are a part of the transaction to look at any time.

Safety Quotient:

As of now, the backend service of the mobile wallet app is able to track the transaction information. The source code of the service is also made available to the users at GitHub, for purposes such as deploying it on the desired computer for added safety.

Further, there are plans for coming up with fully encrypted backend services which will cut any possibility for even the backed services to track spending proposals or any other kind of information.

Exa Wallet and Monero wallet-cli:

Both the Exa Wallet and Monero wallet-cli are fully compatible with each other. The company has revealed its plans to “add an import/export of an existing multisig wallet to/from Exa Wallet in the next two updates.”

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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