Armory Technologies, Inc. was the software company behind the open-source Armory bitcoin wallet. Founded in 2013 by Alan Reiner, also known as “etotheipi,” the company ceased operations in February 2016. Reiner subsequently named a developer with the pseudonym “goatpig” as the lead maintainer of the project. The Armory wallet is a cold storage wallet and supports multi-signature transactions.
In 2013, Armory Technologies raised $600,000 in seed funding from a collection of fund managers and private investors. Armory is a desktop application that allows users to maintain multiple encrypted wallets and provides a one-time printable backup for these wallets and a system for storing bitcoins in an offline location, known as cold storage.
In 2014, Armory released Lockbox, which facilitated multi-signature transactions to bolster the wallet’s security, and opened opportunities to create escrow services and use bitcoin contracts. The wallet utilizes the latter to facilitate simultaneous funding, or “simufunding,” which allows users to participate in funding efforts by specifying how much money they are willing to contribute to a fund. Once the fund has reached its goal, the contract is executed in full. This process is enforced by the bitcoin network, without the need for third parties.
Following cypherpunk Hal Finney’s death from amyotrophic lateral sclerosis (ALS) in 2014, Armory Technologies announced it would match any 10 bitcoin donations given to the Hal Finney Bitcoin Fund for ALS Research. This match was done through its “simulfunding” platform. Finney was best known for his advocacy of digital privacy and cryptography as well as his collaboration with Satoshi Nakamoto on the early bitcoin code in 2009.
In February 2016, Reiner announced Armory Technologies, Inc. would cease to operate as a business, citing a lack of funding and “legal and corporate complexity” that complicated the development of the wallet as his reasons for shuttering the business. He indicated a developer called “Farhod” who utilizes the pseudonym “goatpig” would become the open source wallet’s lead maintainer.