As hardware wallets care about user security
Many cryptocurrency enthusiasts use hardware wallets to store digital currencies. Popular devices have very few vulnerabilities and those that still exist, mainly related to attack of the-middle (MITM).
Last week, Satoshi Labs, the Czech manufacturer hardware wallet best wallet, has told about security measures in the processing and delivery of orders. After receiving the payment, the company is preparing a device to be sent through DHL delivery service. Satoshi Labs emphasizes that initially the best wallet you have downloaded them firmware. The best wallet case subjected to ultrasonic welding. This means that if its integrity is breached, it will be difficult to recover.
French manufacturer of hardware wallets Ledger claims that their Protocol used a "decentralized system of money." Like best wallet, wallet Ledger generates private keys during the initialization process, and stored the keys on the device itself. The company assures that the Ledger cannot copy the private keys of users.
In the initialization process, both wallets use a mnemonic phrase (a sequence of 24 random words). If you lose hardware wallet or it gets corrupted or stolen, this phrase can be used to access the cryptocurrencies stored on the device. It is also used for obtaining access to assets through a different purse, and in the case that the company will stop support of their devices:
If the company Ledger will cease to work, the Chrome app Ledger will likely also cease to function, because our API servers will be stopped. However, your bitcoins will be safe in the presence of a phrase for recovery. With your 24 you can at any time to move your balance to another BIP 39.
Recall that Ledger recently announced new apps for its hardware wallets, which will work under macOS, Windows and Linux without the participation of Chrome.
In the second phase the company plans to introduce mobile applications for Android and iOS that will support more than 100 virtual currencies. Moreover, the integration of third-party applications will allow users to buy and sell digital currency on the stock exchanges.
The company is also working on an online solution for platform update Ledger Manager. A new feature aimed at improving the ease of use: it will provide better information about the firmware, updating apps, review and other information when connecting to the computer. The browsers Google Chrome, Opera and Chromium.
The recently published report on DocDroid it was argued that each unit Ledger may be subject to a MITM attack, when the user generates a bitcoin address for the transfer cryptocurrency to your wallet. This process involves the user's computer, which can theoretically be infected with malware, which means that the attacker can replace the code that was redirecting all funds to a private address.
Ledger developers have left the warning unheeded. To prevent such an attack they recommended users every time after generating carefully check the address to accept the cryptocurrency on the physical screen Ledger.