One of the most troubling issues currently facing the crypto world has to do with security, and that’s why hardware wallets are gaining so much popularity these days. Sony is one of the latest companies to develop a secure crypto hardware wallet.
What’s Good About Hardware Wallets?
One good thing about hardware wallets is that they’re basically an offline system that doesn’t have online portals. As has been noticed of late, hackers have been mostly targeting online-based crypto wallets hosted on exchanges and other trading platforms. With a hardware wallet, you practically hold your cryptos in an offline hardware device.
Sony’s Crypto Hardware Wallet
Researchers and developers at the Sony Computer Science Labs (SCSL) have come up with a device that uses IC smart card functionalities to connect to crypto networks like Bitcoin’s. To highlight one of its new features, the Sony hardware wallet doesn’t have to be connected to a host computer via a USB device to access the crypto network. Besides that, users can generate a random and highly potent private key using the secure module hard-coded into the IC card. That greatly adds to the security purpose of the wallet. That’s according to the reports issued along with the wallet’s release by Sony.
But perhaps what really catches the people’s attention about this new crypto wallet is its improved features that aren’t found in others. According to the company, the crypto wallet will have a range of other uses besides receiving, sending, and securing cryptocurrencies.
For instance, the wallet has an added functionality that allows the user to generate and manage private keys for other purposes besides crypto transactions. Such purposes include user permissions for access to personal information when using blockchain-based technologies. In Sony’s own description, the new crypto hardware wallet “is an infrastructure technology with multiple possible applications.”
Sony Has History With Blockchain Hardware
Evidently, this isn’t the first time Sony has ventured into blockchain-related tech projects. Over the recent years, the giant company has carried out various research projects and came up with some useful solutions. It has also patented a few ideas relating to hardware used in blockchain systems.
The release was announced just recently on Tuesday, October 23rd, and the wallet’s official name is yet to be coined. Also, the schedule for the mass rollout of the product is yet to be publicized. Given that the crypto hardware market is fast expanding, the new secure wallet should be expected to hit the crypto market soon.