WISeKey’s VaultIC Microprocessor Secures Cold Wallets and Offers Security and Ease-of-Use for Bitcoin and Other Cryptocurrency Users
For more information visit: https://www.wisekey.com/products-services/secure-semiconductors/secure-elements/
ZUG, GENEVA, Switzerland – January 27, 2021- WISeKey International Holding Ltd (“WISeKey”, SIX: WIHN / Nasdaq: WKEY), a recognized leader in cybersecurity and IoT, today announced that its semiconductor VaultIC secures Cold Wallets with a contactless hardware that enables the wallet to offer security and ease-of-use to Bitcoin and other cryptocurrency users.
Cold Wallets are the safest option to store private keys as these wallets are not connected to the internet and therefore reduce the risk of being compromised. Cold Wallets cannot be infected by computer viruses because private keys never come in contact with network-connected devices or potentially vulnerable software.
VaultIC is a family of tamper resistant secure chips with firmware that brings digital security and cryptographic functions to Cold Wallets and other cryptographic enabled devices, as part of WISeKey’s scalable security framework. These chips provide configurable cryptographic services for authentication, data confidentiality and integrity check. VaultIC offers a wide bundle of standard, NIST-recommended cryptographic algorithms (such as ECC, RSA, ECDSA, AES, SHA) and associated key lengths. A certified hardware-based True Random Number Generator complements this set of features. VaultIC also provides on-chip secure data storage for secret keys, certificates, and data. VaultIC comes with a rich software environment including tools for protected boot, secure firmware update for IoT devices and secure communication (SSL/TLS) stacks.
Cold Wallets protected by WISeKey VaultIC semiconductors provide the most secure way to store Bitcoins or other cryptocurrencies by offering contactless access to their private key and the ability to make contactless transactions and payments. VaultIC secured Cold Wallets use a combination of Near Field Communication (“NFC”) technology with highly secured solutions provided by the WISeKey Semiconductors.
While the exchanges and software wallets continue to get hacked, the hardware Cold Wallets have gained popularity as they are providing the most secure solution for transaction and payments. VaultIC secured Cold Wallets have now become contactless and users can establish multiple private keys into the secure store using the same app and access these private keys while making transactions in contactless mode.
To empower a seamless cryptocurrency enabled economy, VaultIC is supplemented with additional WISeID highly secured solutions (biometrics enabled variants also available), integrated exchange platforms, NFC-based contactless payment solutions, etc.
While all these security and ease of use features are very important, there must be a proper recovery option for the wallet when the hardware storage is lost, broken, or stolen. Thus, a backup copy of all private keys is stored in the military grade bunkers in the Swiss Alps with proper Hardware Security Module (HSM) and sophisticated recovery mechanisms are in place for a reliable and consistent Wallet solution.
WISeKey (NASDAQ: WKEY; SIX Swiss Exchange: WIHN) is a leading global cybersecurity company currently deploying large scale digital identity ecosystems for people and objects using Blockchain, AI and IoT respecting the Human as the Fulcrum of the Internet. WISeKey microprocessors secure the pervasive computing shaping today’s Internet of Everything. WISeKey IoT has an install base of over 1.5 billion microchips in virtually all IoT sectors (connected cars, smart cities, drones, agricultural sensors, anti-counterfeiting, smart lighting, servers, computers, mobile phones, crypto tokens etc.). WISeKey is uniquely positioned to be at the edge of IoT as our semiconductors produce a huge amount of Big Data that, when analyzed with Artificial Intelligence (AI), can help industrial applications to predict the failure of their equipment before it happens.
Our technology is Trusted by the OISTE/WISeKey’s Swiss based cryptographic Root of Trust (“RoT”) provides secure authentication and identification, in both physical and virtual environments, for the Internet of Things, Blockchain and Artificial Intelligence. The WISeKey RoT serves as a common trust anchor to ensure the integrity of online transactions among objects and between objects and people. For more information, visit www.wisekey.com.
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