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Elctroncash Wallet b

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Electron Cash Wallet: Open Source Solution for Bitcoin Cash

Electron Cash is a freely available, open-source wallet tailored specifically for Bitcoin Cash. Launched in August 2017 during the Bitcoin Cash fork, this wallet remains dedicated solely to supporting Bitcoin Cash transactions. It functions as a simplified payment verification (SPV) node, streamlining the verification process.

Users retain full control over their private keys, which are stored in an encrypted manner on their local hard drives. Additionally, these private keys can be exported for use in other Bitcoin clients, ensuring flexibility for users. Backup security is facilitated by a mnemonic seed phrase.

Despite offering strong functionality, the wallet doesn't adopt a hierarchical deterministic approach and lacks two-factor authentication. However, it does provide multi-signature capability, enhancing security further.

A key advantage of Electron Cash is its capacity for cold storage, allowing users to keep their funds secure. This wallet permits users to export their public key to an external online wallet, functioning as a watch-only solution. Through this setup, users can effectively monitor balances and transactions using the online wallet while utilizing the offline wallet for transaction signing.

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Pros & Cons

  • Private keys are securely stored and encrypted on the user’s hard drive
  • Ability to export the public key for creating a watch-only wallet
  • Operates as an SPV (Simplified Payment Verification) node, eliminating the need for a full blockchain download
  • Wallet backup facilitated by a mnemonic phrase
  • Offers multi-signature functionality
  • Does not utilize hierarchical deterministic structure
  • Lacks two-factor authentication
  • Exclusive support limited to Bitcoin Cash

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