REAL Security Inc. is challenging competing Trezor and Ledger wallet providers with new cold storage device, BC VAULT (short for Blockchain Vault). The product is the first multi-crypto hardware wallet that generates non-deterministic wallets, enables easy and secure crypto transactions and offers encrypted backups by default.
Comparison: BC VAULT, TREZOR ONE, Ledger Nano S
Advantages:
- Independently generated private keys: Compared to Trezor, Ledger, and other hardware wallets that use the BIP39/44 standard, the BC VAULT acts as a true random number generator (RNG) and can generate more than 2000 individual, non-deterministic wallets. Each private key is generated independently of another, meaning that no two keys are mathematically linked. If any wallet gets compromised, it cannot be traced back to other wallets in the BC VAULT.
- Individual wallet encryption: Besides having a global password and PIN code to unlock the BC Vault and its app, each wallet can be further protected with a separate PIN code and password. A single device can thus be shared by multiple crypto owners that trust each other with the global login details. Certain wallets can be locked with up to 4 different codes and used as a conceptual MultiSig wallet to sign transactions if codes are distributed among several “trustees”.
- Encrypted microSD and paper backups: The BC VAULT is the only available long-term storage device that enables users to encrypt backups. Instead of having a single, unencrypted recovery seed, each wallet can be backed up individually on an unlimited number of secure memory cards or in the form of printed QR codes. Each device already includes one 1GB microSD card. Unencrypted backups can also be created by setting passwords and PIN codes of wallets to “empty”. Such an option allows for hassle-free storage in a secured place. Encrypted backups can be restored, so there is no need to reset all passwords and codes.
- Large display and D-pad: The 2.42-inch OLED 128×64-pixel display fits all important transaction details on the screen to protect against a man-in-the-middle attack. The display shows full sender and recipient addresses, wallet name, crypto amount and fees (including warnings about unusually high TX fees). The 4-way control pad enables easy menu navigation, password input, and improved response.
- Secure storage: Private keys are stored in FRAM, which has 1000x faster throughput and consumes 250x less power than Flash. The chip prevents exposure of wallets to potential malware on connected devices and guarantees reliable data storage for over 200 years at 35°C (95°F).
- Firmware upgrade (certificate signed) is always done on a non-active partition to protect the device from faults during any upgrade procedures.
- Strong encryption: Each BC VAULT is pre-loaded with a private key that corresponds to a public address owning 1.0 BTC. The bounty wallet is encrypted the exact same way as other BC VAULT wallets, showing confidence in the bullet-proof encryption,
- Multi-crypto and native ERC20 token support: The BC VAULT hardware wallet enables simultaneous use of multiple wallets and cryptocurrencies in a single app. It is also the first to support native storage of all ERC-20 tokens (approx. 170.000). Without needing to rely on third-party applications or websites, users can manage BTC, ETH, LTC, BCH, BNB, DASH, XRP, XLM, and many other supported currencies.
- Anonymity: Wallets on the hardware device are generated independently and cannot be traced back to a single device. The BC Vault also has no serial number, ensuring complete anonymity of its owner.
- And much more: The device features a reversible USB Type-C connector, supports seamless use of SegWit and Legacy addresses within each BTC wallet, and can be used as a U2F authentication device.
A New Generation of Hardware Wallets
The BC VAULT is a hardware wallet that makes no compromises like competing Ledger and Trezor products. It might just be the most affordable cold storage and payment device in one – a multi-crypto wallet that will make the use of cryptocurrencies easy and storage reliable, but not at the expense of advanced functionalities and security features.