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IOTA Labs Unveil Spark Wallet with Lower Security and Higher Privacy

IOTA Labs recently launched a burner wallet to help crypto users enhance privacy and anonymity when transacting in small amounts. Industry players hope it will complement coin mixers.

By Marylin Moore

Thumbnail Image for Blog Article IOTA Labs Unveil Spark Wallet with Lower Security and Higher Privacy
date_rangeFebruary 22, 2020 remove_red_eye 6348
In December 2019, IOTA Labs launched an experimental burner wallet that they call Spark. This low-security facility is apt for holding relatively small amounts of crypto over a shorter period before it is burnt and the seed and transaction history destroyed. It helps improve privacy and anonymity while using cryptocurrency and betters what cryptocurrency tumblers are already doing.

IOTA Labs seem to have hit a pot of good fortune. First, they brought you the Trinity Wallet, an infrastructure that boasts of four important features; paramount security, fast transactions, easy management, and market watch tools.

The laboratories, which are an innovation arm of IOTA now have Spark, a low-security burner wallet, or rather, a temporary web wallet that you use to keep small amounts of crypto over just a short period.

Once the wallet has outlived its usefulness, you can burn the wallet and in the process, wipe the seed and the entire transaction history. In Spark, crypto enthusiasts hope for a tool that complements what coin mixers are already doing.

Spark and Trinity differ considerably. When compared over a range of features such as intended use cases, supporting platforms, the operating environment, security, set up time, hardware wallet support, the underlying technology, and download access, among a few more aspects, a wide chasm emerges between the two.

Spark and Trinity – The Differences

Whereas the Trinity wallet is an official IOTA repository made for both PC and mobile, Spark is just a web-based experimental burner wallet. Also, while both are set for production, the intended use case for Trinity is for large amounts of coins while the counterpart holds only a limited amount.

Trinity is compatible with a range of operating systems that include Windows, Linus, Mac, Android, and iOS. Spark, on the other hand, only works over the web medium. The two wallets run on both Mainnet and Devnet, and while Trinity implements the highest level of security, Spark is intentionally a low-security infrastructure.

Trinity users enjoy hardware wallet support while Spark users do not have such privileges. However, the setup time for the latter is instant while you need at least a few minutes to set up the former. Erasing Spark takes about the same time required to set it up.

Spark is built on Svelte technology, an innovative and radical approach to creating user interfaces. Svelte makes it easy to work with the resources created using Vue and React by turning these resources into compile step. Trinity, on the other hand, utilizes React technology. It uses both React-Electron and React Native in its construction. Both wallets are open-source tools.

The beauty of using Svelte is that the codes you write for whatever apps you are creating can surgically update the HTML DOM when required, and especially when the state of the app changes.

Spark Wallet – The Architecture

The wallet is experimental. However, you can use it for actual spending. It is a creation of IOTA Labs, a segment of the IOTA Foundation that converts innovative ideas and experimentations conceived with the precincts of IOTA and turns them into products and solutions.

The wallet uses the IOTA JavaScript account model, a feature that introduces a novel approach for tackling the hurdle of single-use addresses that use the payment request system on the IOTA’s platform.

The platform allows a user to specify the expected amount of cryptocurrency as well as the timeout while filling the payment request. When this data is keyed in, the platform ensures that funds are not channeled to a spent address. This feature enhances the smoothness of peer-to-peer transactions especially if you combine payment requests and IOTA’s chat systems.

Aside from bettering the IOTA JS account model, the team working on the Spark wallet has endeavored to improve how the wallets utilize the tech stack. As explained elsewhere in the text, the application uses Svelte technology which is high performing and has been perfected over time by rectifying the drawbacks recorded in the other JS frameworks.

The Spark wallet incorporates tooling solutions from the alternatives of React Electron, which has been used in developing the Trinity wallet. Besides, it utilizes several cross-platform apps.

The wallet is available via this link or by clicking here if you want the Devnet version. Download it, create requests for payments, send or receive IOTA tokens, and even burn it while at it.

Spark Wallet – The Features

The Web Interface

The interface that Spark uses has the basic features present in almost every mobile wallet you know. The screen allows you to make payments to a recipient either using a hyperlink or QR code.

Similarly, the wallet has a request form where you can put the requisite information if you want funds from a contact. Besides, the front page has a chart with cryptocurrency market prices, usually covering a defined time frame.

Settings

While Spark is essentially made to work as a burner wallet, it has a provision that users will find very important should they change their mind about how to use the crypto they are holding in the wallet. This setting allows a user to not only switch between languages and currencies but to also back up the wallet’s balance to the Trinity wallet.

For cryptocurrency enthusiasts that value the privacy that Bitcoin mixers afford, this feature may not be so endearing. However, if you consider the fear that comes with burning data that you still need, then the backup feature comes in handy.

Efficient Single-Use Addresses

Spark has a simplified way of working with single-use addresses. The new JavaScript account model used ensures that commissioned funds do not end up in an address that already has been used. The idea also ensures security by seeing to it that users do not reuse IOTA addresses.

In Summary

IOTA Labs are experimenting with a burner wallet that seeks to complement what Bitcoin mixers are already doing, enhancing safety, privacy and anonymity while sending or receiving cryptocurrencies. Hedged on a segment of the IOTA Foundation that wants to create better innovation for the crypto world, the success of Spark heralds a promising phase in cryptocurrency use.


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