Open Source has become a standard solution in security applications, and it’s for a good reason – allowing the code to be publicly reviewed makes detecting potential vulnerabilities much more efficient, and fixing them quicker. Furthermore, Open Source is a model that forces people to adhere to standards and write more clear code. But within the realm of cryptocurrency, Open Source becomes something much more important than just a reasonable policy.
“Don’t trust, verify” – this popular catchphrase captures the groundbreaking idea behind cryptocurrency: enabling people to use money without the need of a trusted third party. This is why people are always reminded of the need to secure their private keys, and are discouraged from storing their funds on an exchange. But what if you decide to keep your coins on a wallet that’s not Open Source? Essentially, it creates a potential vulnerability for your funds – you are no longer able to fully verify the safety of your money, and you rely on someone else to keep it safe.
This is why Open Source wallets are so important. Even if you don’t know how to read code yourself, just being aware that at any time the code is there in the open for experts to audit it can make you much more confident about the security of your funds. Open Source also gives you the ability to compile your software wallet from the source code – it’s not complicated and it allows you to be sure that you weren’t tricked by a malicious website into downloading a compromised application.
Though there are plenty of Open Source wallets for Bitcoin, the oldest and most popular cryptocurrency, the situation gets more problematic when it comes to multiwallets. If you use more than one or two crypto assets, you might want to keep them all in one wallet. The thing is, all of the currently available multiwallets – like Coinomi, Exodus or Jaxx – are not Open Source. By using them, you can’t fully verify the security of your assets. Instead you have to content yourself with mere belief in someone else’s good intentions. Essentially, you let go of control over your own money.
Here’s where HODLER multiwallet comes in.
HODLER software wallet is a cryptocurrency wallet designed to combine high level of security with great simplicity, so that even people with no tech background can start easily sending and receiving cryptocurrency transactions right after downloading it. Furthermore, it supports a large number of coins and tokens, making it suited to the needs of everyone, no matter which cryptocurrencies they prefer to use.
What differentiates HODLER from other wallets is that it is, and always will be, fully Open Source. The complete code will always be there to look into, review, download and compile by yourself. HODLER realizes that the mission of cryptocurrency is to give people sovereign control over their money, without ever needing to rely on a third party. You don’t ever have to trust us – you can always verify everything by yourself.