Jack Dorsey’s Square Starts Building ‘Mainstream Self-Custody’ Bitcoin Hardware Wallet Integrating with Smartphones

Jack Dorsey’s Square Starts Building ‘Mainstream Self-Custody’ Bitcoin Hardware Wallet Integrating with Smartphones

“We’re doing it,” said Twitter CEO and co-founder Jack Dorsey, adding to his last months’ Twitter thread where he talked about his payment company Square considering making a hardware wallet for bitcoin.

Now just over a month later, Jesse Dorogusker, head of hardware at Square, said late on Thursday that they are going forward with their plan to make a hardware wallet for the leading cryptocurrency. He said in a Twitter thread,

“We have decided to build a hardware wallet and service to make bitcoin custody more mainstream.”

The plan, as Dorsey agrees with, is to have a hardware wallet for Bitcoin that integrates with smartphones.

As Dorsey announced the go-ahead with their bitcoin wallet plan, he responded that the idea is to make it so easy to use that even a grandma would be able to use it while ensuring that the company won’t be able to access these wallets.

He also said that they would be looking at adding the functionality for users to “dedicate a percentage of daily sales to auto invest in Bitcoin.”

While a lot of questions and issues to reconcile, the team is clear about the product direction, which Dorogusker said,

“bitcoin first, global distribution, multisig to achieve “assisted-self-custody, and prioritizing mobile use.”

Square will be moving on to the next step, which involves building a small, cross-functional team. And for this, they are hiring for key roles in hardware, software, security, and business and looking for people who want to “build mainstream self-custody” with them.

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Author: AnTy

Twitter CEO Jack Dorsey Wants to Build An Open-Source Non-Custodial Bitcoin Hardware Wallet

Twitter CEO Jack Dorsey Wants to Build An Open-Source Non-Custodial Bitcoin Hardware Wallet

The Bitcoin proponent is planning community collaboration on the app that “works without Square and maybe also without permission from Apple and Google.”

Bitcoin proponent and Twitter CEO Jack Dorsey is considering making a hardware wallet for bitcoin and kicked it off by sharing his views with the community.

On Friday, Dorsey took to Twitter to share his plans for this wallet which, if built, would be “entirely in the open, from software to hardware design, and in collaboration with the community.”

The idea is to have an including product that brings a non-custodial solution to millions of people all over the world.

Addressing the biggest blocker to this, “not your keys, not your coins,” Dorsey said custody doesn’t have to be all-or-nothing, and it can probably be simplified through “assisted self-custody.” He wrote,

“Assisted requires great product design: minimal setup time, relying on existing devices, and end-to-end reliability.”

Such assisted solutions must provide an excellent experience when using mobile, but of course, it comes with its own dangers of blend availability and security — funds spendable with phone-only permissions with more secure controls. But safety is “complicated.” Here, layer 2 is essential for growth, said Dorsey adding,

“The orders-of-magnitude growth we imagine requires a mix of custodial, off-chain, and second layer solutions that allow people to ‘get off of 0.’”

And of course, Cash App integration to it is obvious, but while a custom-built app, it doesn’t need to be owned by Square, he added.

“We can imagine apps that work without Square and maybe also without permission from Apple and Google,” concluded Dorsey with the promise that they will “listen and continue the conversation.” The team will also set up a dedicated Twitter and GitHub account if they decide to build a hardware Bitcoin wallet, he said.

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Author: AnTy

Samsung Updates Galaxy Smartphones With New Support for Crypto Hardware Wallets

Samsung Updates Galaxy Smartphones With New Support for Crypto Hardware Wallets

Tech giant Samsung Electronics has made it easier for Galaxy smartphone owners to secure their cryptocurrencies on the phone.

In a new announcement, the company disclosed that it had updated the Samsung Galaxy Phones to enable users to connect their Samsung crypto wallet to third-party hardware wallets.

Samsung Galaxy Users Get Crypto Upgrade

According to Samsung, the update will make it easy for blockchain users to import their digital assets from their hardware wallets to their Samsung wallet.

This means users can easily access and process crypto transactions easily on their Galaxy smartphones.

The hardware wallets that can be connected to the Galaxy smartphones include the popular Ledger Nano S and the Nano X options.

Also, Samsung Blockchain Wallet users will get a dedicated newsfeed on the latest trends in cryptocurrency.

Samsung Galaxy users will be able to explore decentralized apps (DApps) on the platform as well. There are about 40 Dapps presently on the platform. The Asian giant has called on more developers to build more DApps that generate, store, and manage blockchain accounts easily.

Samsung Ramps Up Crypto Involvement

Samsung’s first entrance into the blockchain sector was after it launched its Galaxy S10 smartphone in 2019.

The tech firm introduced the Samsung Blockchain Keystore and Wallet to enable cryptocurrency private keys to be secured through encrypted storage.

Samsung uses its defense-grade Samsung Knox security platform to secure the wallet, which can only be accessed using the asset owner’s PIN or fingerprint.

With this new move, Samsung has reinforced its stance of putting the power of cryptocurrency and blockchain in people’s hands.

Since its foray into crypto, Samsung has expanded its support for many cryptocurrencies, including Bitcoin, Ethereum, Tron, Klaytn, and Stellar. It also offers a buy feature where users can buy and sell cryptocurrency via integration with Gemini.

This Gemini integration on the Samsung wallet was incorporated in 2020 as part of the company’s efforts to help bring crypto to the fingertips of Samsung Blockchain Wallet users in the United States and Canada.

Meanwhile, Samsung is not the only phone provider to have dived into crypto. Taiwan-based tech manufacturer HTC was one of the first to market with the announcement in 2018 that its Exodus 1 smartphone would be able to store BTC and Ether natively.

In 2020, HTC partnered with Mida Labs to use its DeMiner app on the Exodus 1S model to allow users of its Exodus blockchain phone to mine cryptocurrency.

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Author: Jimmy Aki

Crypto Hardware Wallet Trezor Brings Privacy to its Users with CoinJoin & CoinControl

Crypto Hardware Wallet Trezor Brings Privacy to its Users with CoinJoin & CoinControl

Cryptocurrency hardware wallet, Trezor is bringing privacy to its users through CoinJoin.

CoinCoin is a trustless method that combines multiple Bitcoin payments from multiple senders into single transactions making it difficult for outside parties to determine the origin of the coins. Trezor tweeted,

“We always strive to advance your privacy! CoinJoin will obscure the sources and destinations of your transactions.”

However, some are concerned about the fact that cryptocurrency exchanges like Binance and Paxos Global actually discourage the use of the bitcoin mixing services and, in the past, have flagged consumers who have made use of these services. For Trezor, the heart of the matter here is,

“Do you want to use a service that blocks your transaction because you care about your privacy?”

Another step towards maximizing Trezor users’ privacy also includes a CoinControl feature that puts the user in complete charge of compiling their transactions.

When sending BTC to someone, this feature allows you to control which of your addresses sends the coins and, even more specifically, which unspent outputs will be sending inputs.

“In the future, the combination of Tor Switch, CoinControl, and CoinJoin will guarantee you the top level of privacy and security, respected by our customers.”

Besides privacy, Tezos (XTZ) also announced that they are also bringing full node support to its wallet this year. Users will be able to connect their own full node, which allows them to fully validate transactions and blocks and help the network to the Trezor hardware wallet.

In the first stage, they will implement Electrum API integration which will be then followed by Bitcoin Core.

Another addition includes the Trezor Suite Mobile app for Android, which will have most of the Trezor Suite features “bringing accessibility and user experience to the whole new level.”

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Author: AnTy

Top Chinese Bank Launches Testing for a Digital Yuan “Hardware Wallet” Card

Top Chinese Bank Launches Testing for a Digital Yuan “Hardware Wallet” Card

  • Top Chinese bank launches testing of its “hardware card wallet” for the digital yuan.
  • The card is currently testing Dongcheng District – targeting the elderly.
  • Beijing residents testing the CBDC can also use the wallet to pay for healthcare services.

A local news report, Xinhua Net, confirmed that the Postal Bank of China has launched its biometric hardware wallet card for the digital yuan. The card is still in its testing phase to provide Dongcheng District residents with the ability to pay and transact using the central bank’s digital currency.

The hardware wallet provides users with biometric security to spend their digital yuan using a one-tap system on selected stores. Once the transaction is complete, the card’s ink screen window displays the transaction amount and the wallet balance.

The new card focuses on giving the elderly a more efficient way to use the digital renminbi given the challenges they face with smartphones, Chen Yuejin, Chairman of the Postal Bank of China, said.

“With this card, it is much more convenient to enter and exit public places, and you can pay with just one touch. It is especially suitable for the elderly who have difficulty using smartphones.”

China is the leading country in testing and piloting projects supporting its digital yuan. In the past two years, the government has launched several pilot projects on its CBDC in Beijing and Shenzhen – recently disbursing over $3 million in ‘red envelopes’ to over 50,000 people, the largest pilot yet.

The expedited process of piloting the digital yuan forces central banks around the world to look into launching their own CBDCs to avoid falling behind with China. Despite several analysts touting the digital yuan to replace the dollar, Martin Chorzempa of Peterson Institute for International Economics’ believes there is a long road ahead still.

He believes Chinese electronic payment services lay the toughest roadblock for the digital yuan to become internationalized. Chorzempa said,

“A lot of people talk about (the digital yuan) being a driver of renminbi internationalization.”

“I think they have to beat Alipay and WeChat Pay in China before, I think, that they can make a dent in the U.S. dollar.”

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Author: Lujan Odera

Trezor Incorporates ‘Tor Switch’ in its Desktop App for Increased Privacy

The popular hardware wallet, Trezor, is working on providing its users’ privacy.

In its desktop app “Trezor Suite,” the cold wallet service provider has implemented the privacy project Tor to allow its users to obscure their connection.

Tor is an open-source network which has its servers distributed around the world run by volunteers and uses a special protocol that encrypts data at multiple levels. One can now not only enjoy the safety of the hardware wallet but the anonymity of Tor as well on Trezor.

“Tor is the perfect match for users who are concerned about sharing identifying data with a third-party service or anyone who might be observing their communications,” said Trezor in its announcement.

By downloading the latest public beta version of Trezor Suite, one can start using Tor with Bitcoin and other cryptocurrencies. Currently, The Tor switch is only available in the desktop app, located in the top-right of the Suite window.

Used by the likes of whistleblowers such as Julian Assange and Edward Snowden to evade espionage from the US governments and from journalists, security specialists, governments to individuals worldwide, Tor has helped protect human rights and individual freedoms.

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Author: AnTy

Atari to Launch a Token to Sell its New Gaming System, VCS; First Hardware in Over 20 Years

Legendary players, Atari is all set to launch its new hardware in more than two decades. But this time, it comes with a twist of crypto.

By introducing a way for gamers to spend cryptocurrency in the play, Atari, once an incredibly popular gaming company that has fallen from grace, weathered bankruptcy, and now facing stiff competition from the likes of Microsoft’s Xbox and Sony’s Playstation, which are preparing to launch their new video-game consoles, is attempting to restore its former glory.

Atari VCS, called mini-console or a gaming computer, was first teased several years ago and is expected to ship next month; it will offer access to over 100 Atari arcade games and home classics.

In its efforts to remain relevant, Atari brings crypto into the mix by letting consumers buy products using Atari Tokens that will go on sale in late October.

The tokens will be available from Oct. 29 on Bitcoin.com Exchange, which will start selling $1 million worth of Atari Tokens to retail investors at 25 cents apiece outside of the US.

Initially, these tokens can be used for in-game purchases and partner games. Eventually, the tokens will be used in the broader gaming ecosystem if the company’s effort to create standard currency for the industry becomes a success.

Atari is reportedly working on a gaming stablecoin but isn’t any close to launching, as per Chief Executive Officer Frederic Chesnais, who led Atari out of its 2013 bankruptcy.

“We have a brand, we have a following — we think we are going to get some attention in any case,” said Chesnais, who added that the iPhone is more his competition than an Xbox or PlayStation. “After that, the product has to be good.”

The crypto push is part of Chesnais’s seven-year effort to bolster Atar SA and make it more modern and relevant.

So far, over 11,500 people have preordered the new hardware via Indiegogo, a crowdfunding site, where Atari ran the campaign and took in more than $3 million.

“We’ll see how it plays up,” Chesnais said. “We don’t need to sell millions in the beginning, it’s a long-term effort.”

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Author: AnTy

Ledger Launches Support For Algorand (ALGO) Staking On Its Software App, Ledger Live

  • Crypto hardware wallet manufacturer, Ledger, is launching support for the Pure Proof-of-Stake (PPoS) platform, Algorand.
  • The announcement sent to BEG further states the software application will support Algorand’s Standard Assets (ASA) management.

Ledger wallet users will now be able to “securely hold, transact, manage, and stake ALGO” on Ledger Live directly on their desktops or smartphones. ALGO becomes the fourth coin to create its staking pool on Ledger following successive additions of staking coin, Tezos (XTZ), Tron (TRX), and Cosmos (ATOM).

Ledger now supports over 1500+ crypto tokens and 27 crypto coins on its platform.

Algorand offers users a pure PoS platform, unique from the delegated proof of stake (DPoS) consensus algorithm, whereby users delegate stakers to make the governance decisions. Algorand’s PPoS allows “anyone to participate in the Algorand network proportionally to the amount of ALGOs they have in their wallets.”

Speaking to BEG, Fangfang Chen, COO of Algorand, stated his pleasure at partnering with one of the companies with the “highest standard of crypto security.” Chen further said,

“The Algorand ecosystem has experienced tremendous growth since the mainnet launch last year, and we are proud to work with Ledger, the industry-leading security company, to provide ALGO holders more opportunities to participate in the network while ensuring security and transparency of the whole Algorand economy.”

Additionally, Ledger Live wallet users will also be able to control and manage their Algorand Standard Assets, such as the recently added Tether stablecoin, USDt. Users can also manage the system credits, loyalty points, and “single, unique assets issued on the Algorand blockchain that benefit from the same security, compatibility, speed, and ease-of-use as the ALGO.”

Ledger aims at offering unparalleled security and ease of use to users in comparison to current ALGO-enabled staking platforms. Ledger Live allows users to stake their ALGO tokens on a single app while still storing their private keys on the Ledger hardware wallet – providing freedom without compromising on security.

Ledger is “expanding its tokens and crypto markets” – ALGO being the latest – with more to come, Pascal Gauthier, CEO of Ledger, said. The integration of ALGO on Ledger Live will provide users with a broader array of opportunities “to earn passive income, ensuring the highest level of control and flexibility.”

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Author: Lujan Odera

Data Breach at Popular Hardware Crypto Wallet Ledger Affects Million; Trezor Fires Shots

Popular crypto hardware wallet Ledger reported the leak of 1 million email addresses and 9,500 detailed personal information of its customers.

Ledger’s competitor, Trezor, took this opportunity to advertise, “After 90 days, we get rid of all sensitive data about your order in our e-shop database (even e-mail addresses),” complete with promo code “DATAPRIVACY” to offer a discount on its products. But it’s limited to 9500 users.

The company came to know of the data breach on July 14th when a researcher participating in Ledger’s bounty program made them aware of it; Ledger shared in its official report. Ledger immediately fixed the breach and conducted an internal investigation.

Now, a week after patching the breach, the company discovered the vulnerability had been exploited on June 25th by an unauthorized third party. The entity accessed Ledger’s e-commerce and marketing database through an API key, which has now been deactivated and is no longer accessible.

The database access, which has been used to send order confirmations and promotional emails, including mostly email addresses along with contact and order details such as first and last name, postal address, email address, and phone number.

Approximately 1 million email addresses were affected, and a subset of 9500 customers was exposed for first and last name, postal address, phone number, or ordered products.

“Your payment information and crypto funds are safe,” as the data breach has no link and impact on hardware wallets, crypto assets, or Ledger Live security, ensuring the company.

The company has since then informed all of its customers about the situation, and those whose detailed personal information is exposed have been sent dedicated emails.

Ledger has also notified the CNIL, the French Data Protection Authority, which ensures that data privacy law is applied to the collection, storage, and use of personal data.

Last week, they partnered with Orange Cyberdefense to assess the situation and are actively monitoring the evidence of databases being sold on the internet.

The company is now extending the scope of its security and organizational program to e-commerce, which initially focused on Products (HW and Vault). Further steps are taken to meet the requirements listed in ISO 27001.

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Author: AnTy

Gemini Adds Support for Hardware Security Keys on iOS, Android Mobile Apps

Gemini crypto exchange is boosting the security of its network following the integration of hardware security key support functions. This move is meant to make the Winklevoss run digital currency exchange more secure, given the history of hacks in the crypto industry. The new support function for hardware keys on the Gemini exchange will allow users to leverage added security from providers like Yubikey.

According to a statement on July 13, Gemini app users on both Android and iOS now have the ability to authenticate their login via Web Authentication (WebAuthn). This is a security interface that uses public-key cryptography to validate multiple users of internet apps. The statement reads:

“Gemini customers can now use USB and near-field communication, or NFC, security keys to sign into the Gemini Mobile App securely.”

The Two-Factor Authentication (2FA) Value

Gemini’s support for hardware security keys underscores the value of two-factor authentication. This initiative will prevent sim-swap attacks and possible hacks, as per Gemini’s prospectus. Only the hardware key owner can access their account even if their login credentials have been compromised.

Gemini has been working on this milestone in collaboration with Yubico’s Yubikey, a security provider whose services can now be integrated with the Gemini exchange.

“Yubikeys provide a secure, cross-platform solution you can use to access your Gemini account via our Mobile App, as well as any other sites that support WebAuthn.”

Gemini has since noted that users looking to take advantage of the new security features fully should register at least two hardware keys, one that is supported within their mobile devices and a cross-platform service such as Yubikey.

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Author: Edwin Munyui