and now they are adding one more trust layer with additional secure element from different manufacturer
It's worse than Ledger is doing and they are going in opposite direction of open source, plus addition of NFC is making their hardware wallet NOT air-gapped device anymore.
I'm not sure I'm following.. Wouldn't two (closed source or not) secure elements mean less trust? As in: if one has a backdoor, it only has access to half the seed instead of full seed. Also: if one is vulnerable & an exploit is developed, the other one remains secure & 'half seed' is still protected?
It definitely depends on the implementation; doing half-half might not even be that smart, I think there are cryptographic mechanisms which would be better suited to 'splitting' the seed.
Definitely still a big fan of Trezor without secure element myself, though. This way it's reproducible to build and a truly open source device. The known seed extraction attack admittedly needs quite a bit of advanced tools and knowledge.
Best would be an open-source secure element; I think Trezor is actually working on one, excited to see how it's going to turn out.
Point is that with NFC Coldcard is not airgapped anymore.
Open Source
Airgapped
Whats next? Maybe going full closed source...
You know what? I just checked their GitHub and website again and cannot find mention of exact license used. The GitHub has an empty license file, I mean it just contains:
COPYING-CC
While in March 2020 it contained GPLv3 license.
(c) Copyright 2017-2020 by Coinkite Inc.
This program is free software: you can redistribute it and/or modify
it under the terms of the GNU General Public License as published by
the Free Software Foundation, either version 3 of the License, or
(at your option) any later version.
This program is distributed in the hope that it will be useful,
but WITHOUT ANY WARRANTY; without even the implied warranty of
MERCHANTABILITY or FITNESS FOR A PARTICULAR PURPOSE. See the
GNU General Public License for more details.
You should have received a copy of the GNU General Public License
in the file COPYING. If not, see .
I find it very suspicious though that the builds are not reproducible (
https://walletscrutiny.com/hardware/coldcardMk3/).
Regarding airgap, NFC is really a kind of grey line. Similarly to USB cables (maybe even easier) you can interact with the device with very little user intervention, which is marketed as a feature, but poses a large security risk.
Meanwhile, if you need to transfer a micro SD card manually, or scan QR codes with
both devices it's hard to see a scenario where someone tricks another person to do that in a malicious way.
However, the definition of air-gap usually refers to something not being physically connected (with a cable), so in that case you could call NFC and even Bluetooth wallets (which we all know is a bad idea, right) 'air-gapped'. It's tricky and I think you will never find a common ground with NVK, but I say: let the market decide.