FloVault will be taken offline after we have moved users off of FloVault onto the Alexandria wallet in the coming months.
For immediate use, you can migrate your wallet off of FloVault to any wallets supported on flo.cash. However, if you wish to use this wallet on Alexandria you should not need to do anything other than wait for the new service to come online.
FloVault has been around for quite a few years now, but however has not recieved any updates because of the large amoung of work being done elsewhere. It was initially created to use as a Wallet backend for Alexandria.io, however our wallet needs have moved beyond what FloVault can provide.
FloVault is an online wallet service which uses in-browser cryptography to reduce the risk of the coin operator running with the funds. This same system is used by Blockchain.info - a well known online Bitcoin wallet (UNAFFILIATED WITH LITEVAULT/FLOVAULT).
When you login to FloVault, your browser sends your identifier to our server,
we return an encrypted version of your wallet with the AES algorithm,
your browser then decrypts this using your password (which is never sent to the server)
to load your private keys used to sign transactions.
When you send Florincoins via FloVault, we use the private keys in your browser memory to sign a transaction form your address, we then post that crafted transaction to our server as a hash which we cannot modify, we can only push the transaction out to the network.