Can a Crypto Wallet be Lightweight, Private, AND Secure? The SPV Model Leads the Way.

People need mobile wallets that are fast to set up, easy to use and very secure. All too often, mobile wallets make extreme security sacrifices in order to slightly improve ease of use. One example of a bad security practice is when a wallet has to trust a centralised node. This is a trust model that processes all wallet information, sent and received, through a single point of failure. A wallet using Simplified Payment Verification (SPV) challenges this convention by providing a high level of security whilst improving the user experience. ## Fast and Small If you're looking for a non-custodial mobile wallet, the ideal solution is one that uses the SPV model. SPV wallets are designed to be intentionally lightweight, as it interacts with the blockchain by only fetching and downloading the data, that is absolutely necessary. This includes block headers, block filters, and the full blocks that contain transaction information directly associated with the wallet. As you can imagine, this reduces the size, setup, and sync times considerably from hours to minutes. In Decred’s case, the required storage space of a fully validating node is approximately 12 GB, while its SPV counterpart is approximately 0.2 GB. Visit: * cypherpunktimes.com * decred.org

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