Mycelium Launches Their Mycelium 2.0 HD Beta - From The CoinFront

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Mycelium has launched their beta release version of Mycelium 2.0 HD, the latest update to their popular Bitcoin wallet software.

It went live in the Android Play Store as of this morning. Mycelium is soliciting input from the community over the next week in order to make improvements before it’s ready for a global launch.

Its new features include something called “hierarchical deterministic” accounts. Jan Moller, Mycelium’s principal engineer, outlined the details in a Google Plus post:

Typically, bitcoin wallets generate each new bitcoin address from a unique random number, requiring a separate backup of each new address. To avoid losses from lack of backups, such wallets use a single bitcoin address for all your transactions. HD wallets instead use a “master seed” (a single large random number), to derive all future bitcoin addresses sequentially from that single seed. This means that you only need to make a backup once, and all the keys generated by an HD wallet can be restored at any time in the future just from that single master seed. HD wallets greatly improve your privacy by being able to keep generating new addresses. If you use the same address continuously all your transactions will be associated with a single address, and because all bitcoin transactions are public anyone can see what addresses you are sending funds to, and calculate your total balance. With an HD account new addresses are created whenever you send and receive funds, making your transaction activity and total balance very hard to track.

However, old backups will still work properly with the new version of Mycelium, and all users’ keys’ addresses, and address book entries will remain in the wallet as well.

Other new features present in Mycelium 2.0 include the ability to label individual transactions. This is a convenient feature for those who want to keep their transaction history organized and itemized to see exactly where their money went.

Users also have the ability to create transactions even when there isn’t any internet connection. The new transaction will simply be broadcast once the device connects to the internet.



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Mycelium Launches Their Mycelium 2.0 HD Beta