Satoshi’s wallet is a wallet for Bitcoin wallet for mobile devices that announced its spark launch on July 1st, and is the second tier of Bitcoin that can interoperate with the lightning network, allowing access to a variety of financial applications.
The launch is in the private beta stage and is touted as an event that will bring Bitcoin’s full self-ocastody back to the US market via light. but This launch is not exempt from the controversy. Some users say that Spark is a statistical and is about storing one of two fragments of the private key, so true self-existence is not permitted. Spark creator Kevin Hurley has stepped out of criticism explaining his security model.
According to Lightspark’s blog, this is a light chain about Bitcoin that houses financial apps and is ideal for launching assets with Bitcoin. «Spark, designed for payment and liquidation, allows developers to instantly transfer Bitcoin and Bitcoin native assets (including Stablecoin) at virtually null cost, without losing connection to the Bitcoin infrastructure. Everything is natively in Bitcoin, without bridges or encapsulation,” the document explains.
With this infrastructure added to your wallet, Satoshi Wallet users can You can make payments using BTC and Stablecoins on both Spark and Lightning networks.
The announcement on social networks sparked controversy among certain Bitconar sectors. Spark Promotions may contain deceptive ads. Matt Coraro, a well-known Bitconnor developer, commented that calling this “autocustody” is a shame when the operator fully trusts that he won’t steal your money.
The developer explains that Spark is a Statechain and that there is a security model that requires a certain degree of confidence. As reported by Cryptonotics, Status is a Bitcoin scalability solution that allows UTXO spending (unused transaction output) outside the main Bitcoin chain.
Last State Chain They use a Multifirma transaction (Multisig) 2 with two signatures. Here, one of the signers is the Statechain entity. In this case, a spark. Corallo critics mention the fact that Spark, as one of two companies, is a state chain that requires confidence and does not allow a true self-system.
Researchers have provided practical examples of how state chains work and what their nature is.
«Statan is a multi-filare 2 of 2. This is the Alice deposit in the state chain. She has custody. The operator cannot steal. Alice sends her private key to Bob. The StateChain entity has Alice and Bob and shared keys. Starsign clashes with Alice and is able to earn double expenses on Bob’s funds. To not do this, StateChain must eliminate Alice and shared keys. If Starsign does that, Bob will have immediate custody of the funds. Bob never knows whether the state chain was really honest or not. They can only know when they withdraw funds from the state chain or when it becomes difficult. Once you receive the funds, you will have custody in case the established operator is honest. You can trust them to be honest, but you can never be sure.
@januszg_, an independent researcher.
Another important developer, Giacomo Zucco, makes it clear that in a state chain like Spark, coordinators cannot steal money from having important pieces. This can be done as one owner Conspire with previous owners of UTXO to make the funds appropriate. Still, Zucco considers Satoshi’s wallet announcement at Spark to be a case of “too marketing.”
Spark creator Kevin Hurley appeared in the controversy to explain his security model. He commented on the statement when using Spark, “You have to trust your operators, it’s not true that your money won’t steal your money.”
«Spark is based on N Operator 1 (or configurable minority threshold), honestly only at the transfer point. If they are honest at the time, that means that this operator has correctly eliminated the key. If so, even if they’ve been hacked or decide to pay maliciousness in the future, they can’t do anything to affect their funds. If the user decides not to trust any of the operators, they can always be free and unilaterally separated, and the operator has no ability to censor them or prevent them from doing so. This is a model that compares very favorably with everything else that exists».
Spark creator Kevin Hurley.
The official documentation of the Spark Security Model ensures that the network operates under a “instantaneous” trust model, meaning that trust is required when performing transactions. The operator then automatically discards the key. “Whenever at least one of the Spark operators (or configurable thresholds) operates honestly during transfer, the system ensures optimal safety,” says Spark.