Bitcoin Foundation Awards Q2 Grant To Coinpunk: An Open Source, Self-Hosted Wallet Service

thegenesisblock.com / By Jonathan Stacke / Aug 3, 2013 

In the world of bitcoin wallets, users have historically had to prioritize between ease of use, accessibility, and security. That decision may be easier now, thanks to the Bitcoin Foundation’s grant to Coinpunk, an open source, self-hosted wallet. Such a solution would allow users to access their bitcoin wallet via the web, without the counterparty risk of an external service to manage the process.

The grant to Coinpunk marks the Bitcoin Foundation’s third allocation since announcing the program in December 2012. This grant falls in line with the goals expressed by Executive Chairman emeritus Peter Vessenes – to support projects that strengthen the core infrastructure in a way that is broadly helpful but may not be commercially viable. Commitment to that mandate was similarly exemplified in the Q1 grant awards for a TestNet Faucet and DNS Seed for the TestNet.

The original bitcoin wallets required downloading the bitcoin client, bitcoin-qt, an option that requires storing the entire block chain on the local computer. Over time this option became less practical for most bitcoin users as the blockchain ballooned in size and the desire for mobile accessibility increased with ever-more merchants accepting bitcoin for payment.

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