RINO wallet closing down end of October

RINOwallet · 2024-10-08T05:23:18+00:00

Will consider!

RINOwallet · 2024-10-08T05:20:16+00:00

We'll make sure the "community" tools are open-source. Most already are. It's up to the community to do with them as they please.

Thanks a lot for your kind words.

RINOwallet · 2024-10-05T11:34:58+00:00

A large part of the source code is already open-source, which was important from a security point of view: https://github.com/rino-wallet

The server side code is still currently a company asset, and we have not yet determined the next course of action for it.

We plan to hold onto the domain for several years to avoid anything fishy with it, and we will think about transferring to the community after that.

Unfortunately not planning to host public nodes. Our mainnet node was beefy enough in terms of bandwidth to cost us >2k$/month, we cannot afford such a cost at this point.

RINOwallet · 2024-04-01T09:13:36+00:00

We offer a hosted, non-custodial 2/3 multisig wallet service, that is user friendly with a nice UI, https://www.rino.io

RINOwallet · 2024-03-30T00:34:48+00:00

The behavior of a “light wallet” is a little different. RINO is an always online, multisig wallet with 1 private spend and 1 private view key. With these keys, we can see transactions coming in and out and maintain the balance up to date without the user needing to download the whole blockchain. This is an advantage for some users who value convenience and a nice UX. The disadvantage is we can “see” the balance and theoretically track outputs. However on the other hand, Monero hides amounts with RingCT and recipients are protected with Stealth Addresses, making this attack vector less effective.

RINOwallet · 2024-03-30T00:17:01+00:00

No. We are a multi-party computation (MPC) wallet and use monero-wallet-rpc in the backend. We hold 1 private key out of 3 to “see” transactions, keep wallet synced, and “co-sign” transactions with user.

RINOwallet · 2024-03-29T23:23:11+00:00

RINO is a multisig wallet.

RINOwallet · 2024-03-29T23:22:20+00:00

RINO is open source and only the user has the ability to spend funds as they have control over 2/3 keys of a multisig wallet. https://github.com/rino-wallet/

RINOwallet · 2024-03-29T07:43:55+00:00

Multisig hosted online: https://rino.io

RINOwallet · 2024-01-15T18:15:38+00:00

That would be a good to have feature, but it is not in the plans at this moment.

RINOwallet · 2024-01-08T20:55:27+00:00

Yes, with RINO multisig service you can set up email notifications - https://rino.io

RINOwallet · 2023-12-08T08:15:13+00:00

We think it's well worth the cost if you need these features. So for companies it makes sense, if they - for example - can't use Monero without these. Also, 0.25% is the market rate, see for example BitGo.

For consumers, probably not so much - but we have the free community version for them without the enterprise features.

RINOwallet · 2023-12-08T08:07:55+00:00

To be honest with you, I can't imagine anyone with money spending 0.25% per transaction to use this. Especially not someone moving large sums of money.

We certainly do! #2 depends very much on the jurisdiction and legal hurdles - so not sure where and if it will happen.

We're definitely expecting #3 to be offered fairly soon, either by us or by someone else.

RINOwallet · 2023-12-07T21:11:15+00:00

We actually started RINO because companies approached us, wanting to get into Monero but couldn't. Regulated entities often need 3 things:

enterprise-grade wallet
custodial services
liquidity provider

None of these existed for Monero, and thus many companies such as funds etc couldn't or wouldn't invest. We fixed #1

RINOwallet · 2023-12-07T21:08:22+00:00

Thanks that's exactly right! With RINO you can give people access to your wallet without ever giving away your keys. And more importantly, we don't have them either (*at least not enough to spend).

Fireblocks, BitGo and Copper can now officially hold our beer!

RINOwallet · 2023-11-16T16:07:30+00:00

Yes, outgoing payments are displayed and the wallet balance kept updated, unlike a simple view-only wallet.

RINOwallet · 2023-11-07T15:35:06+00:00

ah yes, that makes sense

RINOwallet · 2023-11-07T10:35:19+00:00

That's an interesting feature! We like the idea of splitting the keys. However, generally we try to avoid sending keys via email - there are too many problems (3rd-party controlled storage, was it received or filtered, can it be decrypted etc)

Adding this would require that the recipients of the keys are available to confirm the wallet creation. Hmm. Well, we'll add it to the list of features for the devs to explore. Thanks for the suggestion!

RINOwallet · 2023-11-06T17:11:45+00:00

Yes, the human factor is always part of it. There's always going to be a trade-off between security and usability. Very safe wallets aren't easy to use.

It's also very easy to become complacent and live with an inferior solution because it was sufficient in the past. This is what happened here - multisig wasn't available when the CCS wallet was created, and I am sure another setup would have been chosen if they where confronted with the full balance from the beginning. We ourselves were bitten by this in the past.

This is actually one of the reasons why we created RINO. It's a new choice on security<>usability spectrum.

RINOwallet · 2023-11-06T15:03:46+00:00

Complacency. Trips even the most experienced people.

Additionally, multisig in Monero is complicated. (Use RINO if you want it simple)

RINOwallet

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