Written by Mohamed P.Hassan
BrainControl.me a “unique fully featured” bitcoin wallet, runs completely from a users web browser. The wallet saves a users time required to download all the recorded bitcoin transactions, as is the done by other Bitcoin wallets.
The Bitcoin concept works by using a public key to identify as a persons virtual address. Then to use the ‘money’ or bitcoins in that address, someone needs a corresponding private key. Most wallets store the private key in the PC’s System Files, but BrainControl.me does not need to do this. It works using Local Storage, where it stores minimal information to help improve processing speeds.
The wallet stores all of a person’s private keys, keeping their bitcoins only to themselves.
BrainControl.me, though only available on the Firefox OS, is built using the latest HTML5 programming language and makes it compatible with all modern browsers, including Safari. The app, being online, allows it to be accessible across all devices, as well. In addition, the app developer Mark Smalley created it as wordpress theme making it available to anyone through the OpenSource project on GitHub.
The wallet is different from other apps because the download of the whole bitcoin Blockchain amounting to about 14GB is not necessary. BrainControl.me uses an independant service to check the public addresses via “Blockchain.info“. This way the app is very fast, while the Blockchain is still updated every couple of minutes.
As of now, the team behind BrainControl.me is also working on developing thier own “Bitcoin wallet service” to make them independent of Blockchain.info. The new service is to scheduled to be called “Blockchains.io”.
The web-app has been growing in popularity recently and some exchanges are now calling to integrate the app with their services.
Mark sees the exchange of bitcoins to be possibly done in-apps. Currently, there are no web-based wallets that can change plugins, so they are planning to do that. Moreover, Mark told Decision Insider, they might be launching an API for BrainControl. The wallet, is being referred to as “The Bitcoin Wallet That Does Not Exist.”
Mark sees the process of Bitcoin Mining to be very expensive now and almost “impossible to mine,” using traditional hardware. On the other hand, Mark envisions the process of establishing a Bitcoin exchange to be feasible, if there is an enough trading volume.
On the philosophy of Bitcoin, Mark says, “I don’t think they can regulate bitcoin, but they can regulate businesses using bitcoins. Regulations such as anti-money-laundry, should apply to all businesses, so bitcoin falls in this naturally.” The developer who is based in Malaysia clarifies, “Malaysia cannot regulate the dollar and the same goes to the United States, who cannot regulate the Malaysian Ringgit. So bitcoins themselves being without a specific origin cannot be regulated by anyone.”
Mark Smalley believes, “There is no technical problem with Bitcoin. The problem is with the people. These are 18-year-olds creating Bitcoin banks, and they do not know much about handling a business. In the future, I feel Bitcoin will be based on reputation and conforming to regulations as this is what the consumer needs.”
–Edited by R.M.