What is Electrum?
Electrum was developed in 2011 by a German scientist Thomas Voegtlin and a large community of developers.
Electrum is a hot wallet compatible with Mac, Linux and Windows used to store crypto currencies like Bitcoin. The crypto wallet has changed little since its inception and has maintained a stripped down approach.
Electrum users can also choose the level of security they are most comfortable with like standard wallet, bitcoin wallet with 2-factor authentication, or a multi-signature bitcoin wallet. Users are also able to elongate their seed phrase to further ensure strict security.
Interestingly, Electrum integrates with major hardware wallets in the market such as Trezor, KeepKey and Ledger Nano S. It is indeed possible to integrate Electrum into these wallets in order to take advantage of its interface to spend its transactions more simply. In order to maintain lightweight, efficient and speedy transactions by its users, Electrum does not download the entire Bitcoin blockchain rather it communicates with it’s servers.