According to Bitcoin Magazine, the Blockchain company, with the support of Google Ventures, will begin to release a hardware wallet that will integrate with all software services.
Partnering with hardware wallet maker Ledger, the cryptocurrency software company has developed a “custom hardware wallet” called Blockchain Lockbox that, like Ledger, will help users store their private keys on a device offline. This storage method is called cold storage and is considered more reliable, since the keys are located on a wallet that is not connected to the Internet.
According to the press release, existing Ledger users will be able to “connect their Nano S devices” to Lockbox. According to the company representative, "the device will also be able to make cryptocurrency transactions. Lockbox will support Bitcoin, Ether and Bitcoin Cash when released. However, the development team will work to add those assets for which there will be the greatest demand."
The wallet will directly interact with the Blockchain software wallet, and will also, according to the company representative, be “only compatible with Blockchain software.” This will allow users to manage funds in this wallet using software and will add more features.
Ledger President Pascal Gauthier said:
We continue to hear stories of breaches and hacks every day. It is clear that safety should be a priority issue for all stakeholders in this area at this time. Together, Ledger and Blockchain have created a wallet that takes the best of both worlds.
The hardware wallet began pre-ordering on October 25, 2018, and will be shipped to customers in mid-November. The press release states that the first customers will receive a “special version of the wallet in blue.”
According to bitcoinmagazine.com
You May Also Like
Trezor hardware wallet will support new Bitcoin Cash addresses
By adopting the cashaddr format, which differs from the original Bitcoin network addresses, Trezor follows in the footsteps of the Coinbase and Bitpay exchanges, which also implemented cashaddr. The news was spread by the Trezor wallet marketing manager on Twitter, posting a link to a message from cashaddr lead developer Johan Heunicke.
A firmware update has been released for the popular hardware wallet Trezor
On June 26, Trezor published news about updating the firmware of devices and services. Trezor One and Trezor Model T have received updated software, as a result of which these products will receive new functions and settings that reflect changes in the value of cryptocurrencies. The Trezor device is now compatible with the Zcash Overwinter update and will also support the CashAddr address format.
