According to analysts and crypto enthusiasts, BC Vault encryption is the best crypto wallet. Most people believe that it is even better than the bitcoin improvement protocol encryption. In this post, we shall explore the reason most people share this opinion. It is more than thought, especially when we compare the properties of both encryptions.
In this post, we shall explore why the BC Vault encryption is better than the BIP encryption. Before we go on with this exploration, we must understand what BC Vault encryption is and what BIP is.
What is BC Vault Encryption?
BC Vault encryption wallet is a cryptocurrency hardware wallet with many unique features unavailable on other devices. A company created it in Slovenia called REAL-security. REAL-security company specializes in the development of cybersecurity products and services that support the crypto market.
The BC Vault crypto wallet features a 242-inch OLED 128 × 64-pixel display to show all important transaction details. This large display screen helps users to avoid making careless errors when making transactions.
Bitcoin Improvement Proposal (BIP)
This is a standard for proposing changes to the Bitcoin protocol. In some cases, it is a source of information for the bitcoin community. Amir Taaki introduced the first of this proposal.
Why is BC Vault Encryption Better than BIP?
Its proprietary technology
Unlike the Bitcoin improvement proposal (BIP), BC Vault encryption does not use open-source policies. Most of the platform using open-source policies has been exploited in the past. Therefore, the BC Vault developers believe that open-source is unsafe, and its disadvantages will continue to persist unless the users adopt a different technology.
Its private key storage
BC Vault stores all its private keys in ferroelectric random access memory (FRAM) that functions as a flash memory. It is almost a thousand times faster than flash memory while consuming 250 times less power than flash. The Encryption of BC Vault guarantees reliable data storage for over 200 years at 350c. BIP does not provide such services.
Encrypted seed backup
Unlike the BIP, BC Vault encryption covers all the backups by default. Every wallet can have a backup by itself, rather than having a single unencrypted recovery seed. The backup is on an infinite number of secure memory cards or print QR codes.
The encryption is top-notch
One exciting thing about the VC Vault encryption is that it comes with a bounty. All BC Vault wallet comes with a private key to a public address with more than 1BTC. The team encourages users to execute black-box security tests on the BC Vault wallets. Any user that can breach the Encryption will earn more than 1BTC prize.
BC Vault encryption proves to be one of the most secure for crypto wallet users. With security becoming a more significant issue than ever, BC Vault wallet has become a “safe-haven” to store cryptos safely. The BC Vault encryption offers five different security elements. Three of them are specific to a device, while two can be set per wallet.