As the crypto market is getting older, it is getting introduced to the new technologies and developments. Crypto developers and ventures are trying to make crypt dealings smoother, quicker and easier. As it is said that the market survives on innovation and upgradation, companies and individuals associated with the crypto market are making efforts to make it as attractive as possible.
Holding the same thread, there is a piece of recent news in the market. Recently the market has got introduced to a new open source bitcoin cash (BCH) wallet which called Crescent Cash. This wallet by default utilizes the Cash Accounts program. The creator of this brand new application is Pokkst. The app is built to provide simplicity in the transaction, and hence the app will allow BCH users to send funds by using the username and not those long alphanumeric phrases. The wallet was launched on April 1.
Pokkst is also the creator of the recently launched Bchgallery. Crescent cash like BCH wallet is open source and non-custodial in nature. The application also accepts the standard BCH address format and is already available on the Android mobiles in the Google Play store. The new wallet is simple, easier to operate and secure. On his Reddit account, the creator posted that he has spent many sleepless nights to be able to release this application.
He said that the application comes with the quotient of similarity like we find in our traditional centralized money apps along with the factor of the security which one finds in Bitcoin wallet.
The application’s size is mere 6.5 MB, and it will not take more than a few seconds to download it. One can create an account/wallet within a minute. The app creates your username once you choose the handle you wish. Once this is done, the application will automatically register your name with its Cash Accounts system. The user will be able to see his/her name on the BCH blockchain.
Now, if you want to send the BCH to the other account, all you have to do is type the receiver’s username into the address tab (it accepts QR codes and traditional address too).
Crescent Cash Application, the private key of each wallet is stored on the device being used, and the application’s website makes sure that the wallet provider is not allowed to access the recovery key. Here no pop up would be displayed to collect the seed phase, and the user will have to go the settings to find it himself. The application gives xpub address too.
The Crescent Cash is the third wallet to adopt Silverblood’s Cash Accounts protocol which itself is new to the market. Before Crescent Cash, Bchgallery and Ifwallet have adopted it. Most of the BCH-centered ideas are still not fully developed, and they will take time to make a long lasting impression on the market.
However, the Crescent Cash wallet is assisting in promoting and popularising the idea of using usernames.