Blockchain, the cryptocurrency, and distributed ledger software provider partners with Ledger, the wallet manufacturer to develop a new hardware wallet dubbed as Lockbox. The custom hardware wallet will be tethered to blockchain’s software wallet, the users can avail benefits from both services.
Launched in August 2011, Blockchain has been a pioneer in providing cryptocurrency wallets along with a variety of data services. The platform has seen over 29.5 million wallets created since its inception. The solid user base avails software wallet for Bitcoin and now also Ethereum and Bitcoin Cash.
Blockchain wallet will be created by Ledger, the well-known hardware wallet maker and have a custom design and firmware. The Lockbox is not compatible with other Ledger platforms like the Ledger Live application. The CEO, and co-founder of Blockchain, Peter Smith stated during the announcement:
“We’ve created an elegant software and hardware integration that offers more functionality than previously existed in our space. We’re thrilled to offer the Lockbox to Blockchain users so they can easily manage their funds online and offline seamlessly.”
Pascal Gauthier, the President of Ledger, further elaborated that the stories about cryptocurrency hacks “continue to dominate headlines.” He emphasized that “It’s obvious that security must be top of mind for all stakeholders in the crypto space.”
The Lockbox device is FIDO certified and could be used as a secondary security key for Dropbox, Google applications, Github, and more. The $99 Blockchain’s Lockbox is available for pre-order beginning on Oct. 25 and purchase can be facilitated with BCH, BTC, Paypal, Visa, and Mastercard.
Almost identical to the Nano by ledger, the Lockbox is blue in color, has a Blockchain logo and the dimensions are 98mm x 18mm x 9mm. The hardware wallet with custom firmware will be compatible with Windows (7+), Mac (10.9+), Linux or Chrome operating systems. Quite like Ledger Nano, the owner will require to use Google Chrome or Chromium.
The product’s webpage suggests that the new Lockbox is a secure product that can go head-to-head with competitors like Trezor and Keepkey. The website states.
“Our dual chip architecture guarantees cryptographic protection so you can store your crypto worry-free. Your private keys stay protected behind your secret PIN.”
The popularity of Hardware wallet has exponentially grown since the bull run, last year and thousands of cryptocurrency thefts that took place over the years. Hardware wallets have been on a rave in 2018 including the launch of Coolwallet and the latest Ellipal wallet.
Similar to most of the other wallets, the Lockbox includes a USB cord, mnemonic phrase card, and instructions. The blockchain has especially launched a Lockbox support web page, to facilitate any help in the setup process. The platform boasts that to connect Lockbox device to your existing Blockchain wallet will only take a few steps.
Read more: Enterprise Blockchain Hyperledger Fabric Integrates Ethereum Smart Contracts
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