The web based Hive Wallet was first announced in March but has now been released.
Although the Hive mobile wallet was still seeking developers and was little more than a well thought out concept, four months ago, since that time they have not only managed to find the skilled individuals that they needed, but they have also reached the point that they have now released the product.
The entire concept of paying over smartphones and tablets is still a new one that is slowly catching on with consumers.
This mobile wallet is unique in that it is based on HTML5, available on the web instead of requiring an app download. By visiting the URL for the first time, the user is given the choice to either create a new wallet or to open an existing one. Similar to brainwallet, Hive Wallet requires a twelve word passphrase in order to create a new one. Moreover, security is then taken an additional step further by requiring the user to assign a PIN.
Once the mobile wallet has been created, it can be used with a sleek, minimalist design.
This is key because the user will need to be able to access all of its elements rapidly in order to use it to complete transactions. There are three options clearly laid out for users of the site, including the receipt of bitcoin, sending that digital currency, and viewing their transaction history.
This service supports digital currencies (also known as cryptocurrencies) such as Bitcoin and Litecoin and it is looking to add Dogecoin in the near future. Over the long term, the company is hoping to be able to add a range of different digital currencies from which the wallet users can choose.
One feature that is already being applauded is called “waggle”, which broadcasts a user’s public key to other users of the wallet who are located nearby. By doing this, in person transactions can be completed seamlessly, without the requirement for NFC tag taps or QR code scans. That said, because this mobile wallet is based on HTML5, it should be noted that it is not compatible with iBeacon.
Denny is a graduate of the California State University of Northridge where he majored in Journalism and American History. Denny writes for Mobile Commerce Press on a part time basis while also working on his own ebook, The Only Mobile Marketer Left Standing. We've been told this title may change at least a hundred times before or even after publishing.