1. It is with great pride that we announce the very first Monero hosted account service (a web wallet for Monero, if you will), which we are certain will provide a level of accessibility that was previously unknown with Monero.
My Monero is managed by Riccardo "fluffypony" Spagni, although it was created through the efforts and hard work of many people including members of the Monero Core Team, Lucas Jones, Matthew Little, and seed funding provided by Risto Pietila. All of the heavy lifting is done client-side, which means that My Monero can never spend your funds on your behalf or without your authorisation. However, there is a small compromise in that the server knows your view key, which is necessary in order for it to identify transactions belonging to you. Thus there is some reduction in transactional privacy when using My Monero, as if the service is compromised your view key would be revealed. That having been said, stealth addresses would still be in effect even if the server was compromised, and thus transactions can still be said to be unlinkable. If you are truly concerned about absolute transactional privacy, then running your own Monero node will always be the preferred route.
So, this means that the view key is functional now? When will we see watch-only wallets which can make use of the view key? Could the web wallet code not be applied to do this?
