Introducing Cypherock X1, World's first hardware-based MPC Wallet - page 2.

Pmalek

legendary

Activity: 2730

Merit: 7065

Farewell, Leo. You will be missed!

Quote from: Nmnsth on December 16, 2022, 03:57:22 AM

Majority of the hardware wallets today only allow the user to store one seed phrase wallet per hardware. Cypherock X1 allows the user to store upto 4 different wallet seed phrases on a single Cypherock X1. Generate new wallets or use any of these 4 slots to backup your existing hardware and software wallets, thereby making them seedless too.

This really is an interesting concept compared to what other hardware wallet brands do. Instead of resetting to factory settings and recovering a different wallet from seed, users could simply switch between them and save plenty of time. But imagine how many different backups you would have to make and how many new physical locations you would have to keep them in if you started using 4 different wallets with their own unique seeds?

3 backups per seed takes the total up to 12. Add passphrases to that mix (if you use them) and you will have to buy/rent more properties or get more friends and family. Grin

dkbit98

legendary

Activity: 2212

Merit: 7064

Cashback 15%

Quote from: Nmnsth on December 16, 2022, 03:57:22 AM

World's first hardware-based MPC Wallet, making it the first BIP-39 compatible seedless wallet.

I saw you are using 500mA battery for Cypherock and I wonder can you say what that model is exactly?
Some people would like to replace it when it gets dead, but I don't know how complicated is to open your hardware wallet, and would this break anything or make it unusable (not counting warranty void).
I am just watching reviews about Cypherock available on youtube, including most recent with Crypto Guide, so I will comment more about it later.

Nmnsth

newbie

Activity: 21

Merit: 20

World's first hardware-based MPC Wallet, making it the first BIP-39 compatible seedless wallet.

Cypherock X1 uses Shamir Secret Sharing along with distributed tamper-proof hardware storage used in the banking industry to prevent single point of failure with private key security. X1 has five components- 1 X1 Wallet and 4 X1 Cards. Your Crypto private keys are distributed in 5 components, such that you need any 2 out of those 5 to access and/or recover your Crypto assets.

https://imgur.com/jenzlwc

Product Features:

Cypherock X1 is the World's first BIP-39 seedless wallet. Unlike other wallets, there is no need for the user to write the 24 recovery words or the seed phrase anywhere.
Open Source with secure elements both on the X1 Wallet and the X1 cards. Source code - github.com/cypherock
Cypherock X1 is the World's first sufficiently trustless wallet. As a Crypto investor, you have to trust your wallet provider that they will not push a malicious software update to your wallet that extracts out the private keys. In Cypherock X1, even if a developer pushes a malicious software update to the X1 wallet, they will not be able to compromise your private keys since your private keys are never stored as a whole on X1 wallet. X1 cards are not upgradable once shipped to the users.
No Single Point of Failures as the private keys are never stored in a single place.
Cypherock X1 solves for the first time the inheritance problem with Crypto assets without compromising the privacy and control of the assets. (Coming Soon)
Majority of the hardware wallets today only allow the user to store one seed phrase wallet per hardware. Cypherock X1 allows the user to store upto 4 different wallet seed phrases on a single Cypherock X1. Generate new wallets or use any of these 4 slots to backup your existing hardware and software wallets, thereby making them seedless too.
Portfolio Aggregation: Backing up existing wallets allows you to manage your multiple wallets from a single interface i.e the Cysync App.

Website: https://www.cypherock.com
Security Audit Completed by Keylabs.io without any major vulnerabilities found. Read more - https://keylabs.io/cypherock

This thread is in continuation to https://bitcointalksearch.org/topic/celebrate-self-custody-with-cypherock-x1-50-discount-5422455
A huge shout out to @Dkbit for asking genuine questions and recommending to start a dedicated thread.

Topic: Introducing Cypherock X1, World's first hardware-based MPC Wallet - page 2. (Read 293 times)