It looks like more Bitcoin-related Telegram bots are coming to fruition in recent months. One of the most recent additions comes in the form of a Bitcoin address Balance Bot, which lets users check any wallet address’ balance. But some community members are questioning whether or not this service will be useful.
To some people, it might sound very convenient to check their Bitcoin wallet balance through a Telegram bot. Doing so would be a lot easier than throwing upon a block explorer and paste a Bitcoin address, or even load a Bitcoin wallet application if the address belongs to the user itself. Some people just value convenience, and whether or not this service will be useful, remains to be seen.
However, several Bitcoin community members are questioning the validity and usefulness of this service. There are a lot of concerns regarding how this service can be used by anyone in the world to check up on random Bitcoin addresses. While this type of functionality is available through any block explorer service as well, there does not seem to be a need to make this easier.
Telegram is a pretty secure method of communication, though, but it is impossible to tell as to who created the Bitcoin bot and how they will be using it. Moreover, will this Telegram bot log all of the Bitcoin wallet addresses being checked upon? And if so, will this data be stored in a secure manner, or can anyone in the world access it?
Perhaps there is a bit too much paranoia in the Bitcoin community regarding this Telegram bot, but all of these concerns are valid. Unfortunately, it is impossible to tell whether or not any other service logs all of the requests made to check up on Bitcoin wallet addresses. There is no way to guarantee wallet lookup requests are not logged.
In the end, there are a lot of opportunities waiting to be explored in the Telegram bot sector. Bitcoin users can benefit from the advancements being made in this area, although there will always be a risk of third parties being involved and logging data. It is good to see developers think outside of the box, at least.
Source: Reddit
If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.
In the unpredictable world of cryptocurrency, new tokens launch daily, each one a shining beacon…
Once more, Ethereum is commanding the spotlight as fresh figures indicate that the amount of…
The ecosystem on Arbitrum keeps flaunting its robust foundations, with a steady incline in the…
Once again, major market players are focusing on Ethereum. The whale activity surrounding the second-largest…
It has been a tumultuous week for the artificial intelligence sector in crypto. Sharp valuation…
Following a brief stint of dormancy, the BSC Foundation is back in action, reestablishing its strategic…
