For all the buzz that Bitcoin has been getting recently, the crypto currency came up sparsely at the 2014 International CES. However, where the topic did emerge, there were some very exciting developments. Before we dive into one of the more interesting Bitcoin-based exhibits, you should probably know a little bit about Bitcoin. Here is an article and explainer video we posted some time back: What is Bitcoin, and How Does Bitcoin Mining Work?
OK, on to CES. One of the more interesting Bitcoin exhibits we saw was that of KryptoKit. One of the largest problems with Bitcoin – and one of the largest barriers for skeptics – lies in the structure and utility of the various wallet systems/software. They are often clunky, and making or receiving a payment often takes an awful lot of copying and pasting. No more.
KryptoKit solves the Bitcoin wallet problem by building it right into Google Chrome with their free browser extension. The result prompted the creators to claim, “It’s [KryptoKit] the easiest and fastest wallet to set up, and the easiest and fastest way to make Bitcoin payments.” What’s more, the extension is incredibly secure:
With KryptoKit, none of your private keys or passwords are sent to any servers; everything is stored client-side on your computer. Therefore, KryptoKit doesn’t know or store any of your passwords or keys, and we don’t have access to your bitcoins.
The launch of KryptoKit is a very exciting development in the Bitcoin world. It will be interesting to see its effect of the number of Bitcoin users. Anyhow, we stopped by the KryptoKit booth at CES and learned a little more about the browser extension: