Electrum Bitcoin Wallet

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The Electrum user interface on Linux.
The Electrum user interface on Linux.

Electrum is a Bitcoin wallet for Windows , Linux , MacOS and Android . The program was published on November 5th, 2011 and has been continuously developed since then. In addition to Bitcoin, Electrum can also be used in modified versions for Altcoins , for example in the Electrum-NMC version for Namecoin , the first fork of Bitcoin from 2011. In October 2019, an interface to the Lightning Network was implemented to track the duration of transactions Reduce minimum.

Main functions

  • Encrypted wallets: The file containing the private keys is password-protected and encrypted and never leaves the user's computer.
  • Restoring the wallet: If the wallet file is lost, you can completely restore access using the seed (12 words) of your wallet.
  • Lightwallet: Electrum does not download the entire blockchain , but synchronizes the wallet through a server, which saves a lot of time and storage space.
  • Transactions are signed locally: The private keys are never shared with the server, so you don't have to trust the server.
  • A transaction overview in the Electrum Bitcoin Wallet.
    A transaction overview in the Electrum Bitcoin Wallet.
    Cold Storage: The private keys are stored offline. This means that only the user has access to them.
  • Multisignature : Electrum supports multisignature.
  • Hardware wallet integration: Hardware wallets such as Ledger or Trezor can be connected to Electrum.
  • Open source: The program is free and the source code is public, so the security of the wallet can be confirmed. Various modifications such as ElectrumX are already on the market.
  • SegWit Support: Electrum not only supports legacy Bitcoin addresses, but also SegWit and its variations.
  • Add-On Support: External plugins can be added to the program.
  • Python as a programming language: The code is kept short and simple.

ElectrumX

ElectrumX is a full node and provides the users of the Electrum Lightwallet with the decentralized Electrum servers, as is also used for Namecoin.

Electrum Personal Server

In contrast to ElectrumX, the Electrum Personal Server is only designed for use by one user. Instead of storing the whole blockchain , it just keeps track of its own transactions.

Web links

Individual evidence

  1. ↑ Electrum Bitcoin Wallet. Retrieved March 4, 2020 .
  2. ^ Electrum. Retrieved March 10, 2020 (Bitcoin Community website).
  3. ^ Richard Caetano: Learning Bitcoin . Packt Publishing, 2015, ISBN 978-1-78528-730-5 , pp. 70 (English). ( limited preview in Google Book search)
  4. ^ Conrad Barski, Chris Wilmer: Bitcoin for the Befuddled . No Starch Press, 2014, ISBN 978-1-59327-573-0 , pp. 14 (English). ( limited preview in Google Book search)
  5. ↑ Felix Mago: The Bitcoin Handbook . XinXii, February 20, 2016, p. 36 . ( limited preview in Google Book search)
  6. ↑ a b Jeremy Rand: ElectrumX: Name Scripts. July 15, 2018, accessed March 6, 2020 .
  7. ^ Electrum-NMC. Retrieved March 6, 2020 .
  8. ↑ Marcus Misiak: Bitcoin Electrum Wallet announces support for Lightning Network. Coin-Hero.de, October 15, 2019, accessed on March 7, 2020 .
  9. ^ Electrum - Bitcoin Wiki. Retrieved March 4, 2020 .
  10. ↑ Kai Schiller: Blockchain Node | Lightweight and full nodes. In: Blockchainwelt. Lunik Pro UG, April 15, 2019, accessed on March 14, 2020 .
  11. ^ The Electrum Personal Server Will Give Users the Full Node Security They Need. In: Bitcoin Magazine. BTC Media LLC, February 12, 2018, accessed on March 14, 2020 .