Cryptocurrency technology business Blockstream has bought European bitcoin wallet software provider Green Address to increase the reach of its platform.
Blockstream said the announcement did not signal a wider intent to begin acquiring companies in the Bitcoin or blockchain tech space, but was simply a natural choice to extend its sidechain technology.
Sidechain allows tokens to be moved between two separate blockchains and used securely within both.
A blog post from Blockstream said, “GreenAddress was one of the first wallets to deliver features like HD multisig, hardware wallet support, dynamic fees based on core fee estimation, and transaction replacement.
“The team has already started on an impressive lineup of new features, too, including a new, multi-platform wallet library, privacy and security enhancements, and sidechain support throughout the platform.
“Extending GreenAddress to work with sidechains will mean you will have the ability to support not only Bitcoin, but other assets and features coming online via this exciting area of innovation.”
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