Today we're releasing update 1.2.5 to Copay, our open source bitcoin wallet. This new version packs a number of important convenience and security features.
Since the we launched Copay five months ago, simplified backups have been one of the most requested improvements. With 1.2.5 we have improved the way Copay handles backups by supporting the industry standard - mnemonics seed backups. Now Copay wallets can be backed up by storing 12 simple words for each copayer. Copay supports generating the mnemonics in multiple languages, and backups can be further protected with a passphrase for advanced usage.
We've also enhanced Copay's compatibility with other wallets. Personal Wallets (1-of-1) are now seed compatible with all BIP44 wallets. This means any seed can be imported from a BIP44 wallet into Copay, and the wallet is immediately usable. Your transaction history and balance will be updated, all from the seed. In order to support this, we use the widely adopted BIP44 for address derivation and Pay-to-Public-Key-Hash (P2PKH) addresses type for 1-of-1 wallets.
Copay Version 1.2.5 also includes an integration with Ledger's Hardware Wallet. Now you can create a multisignature wallet and make one of the copayers a Ledger device. This configuration can be used to create an extremely secure, yet practical, multisignature wallet for companies or large holdings. At the moment, the Ledger integration is available on Copayâ€™s Chrome App.
With this update, we also made Copay Recovery, a tool to securely recover funds from all current or legacy Copay backups without using Copay or the Wallet Service. This app runs client-side and can be used as a last resort for extracting funds from a Copay wallet.
The new version also includes minor features improvements, bug fixes, performance optimizations; and it is now available in English, Italian, French, German, Spanish, Portuguese, Greek, Japanese, Russian, and Turkish.
Many of these features were suggested, contributed, reviewed, and translated by the community. If you are interested in joining the community, please check out Copayâ€™s Github Repository or Copay's forum at BitPay Labs. We look forward to hearing from you!