TREZOR: Difference between revisions
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Unlike for example a cold storage (offline storage or paper wallet), TREZOR also signs transactions internally. | Unlike for example a cold storage (offline storage or paper wallet), TREZOR also signs transactions internally. | ||
Spending bitcoins is made securely without exposing your private keys to a | Spending bitcoins is made securely without exposing your private keys to a potentially compromised computer. | ||
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TREZOR is a small USB device with a display and two buttons. | TREZOR is a small USB device with a display and two buttons. | ||
It connects to a computer via a | It connects to a computer via a USB (HID protocol like a mouse or a keyboard). | ||
The limited USB HID protocol only allows to send a transaction template to the device and protects the wallet against malware. | |||
The display allows the user to visually verify the payment address and the amount to be sent. In order to proceed the transaction, a physical human interaction (pressing the button) is required. | The display allows the user to visually verify the payment address and the amount to be sent. In order to proceed the transaction, a physical human interaction (pressing the button) is required. | ||
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== TREZOR Software Design & Security == | == TREZOR Software Design & Security == | ||
=== Backup === | |||
TREZOR uses hierarchical deterministic wallet creation ([[BIP 0032]]) which makes regular backups of private keys unnecessary. | TREZOR uses hierarchical deterministic wallet creation ([[BIP 0032]]) which makes regular backups of private keys unnecessary. | ||
When first initialized, a mnemonic code of 12,18 or 24 words, the recovery seed, is created. In case the device gets lost or stolen, the user can recover the entire holdings including transaction history into a new device or other compatible wallet. | When first initialized, a mnemonic code of 12,18 or 24 words, the recovery seed, is created. In case the device gets lost or stolen, the user can recover the entire holdings including transaction history into a new device or other compatible wallet, using the recovery seed. | ||
TREZOR provides the user optional protection mechanisms | === Protection mechanisms === | ||
TREZOR provides the user with optional protection mechanisms. | |||
==== PIN protection ==== | |||
A PIN is set by the user during the setup. It protects TREZOR against being used by unauthorized persons. The wallet creators have invented a secure way of entering the PIN that can’t be keylogged and misused. | A PIN is set by the user during the setup. It protects TREZOR against being used by unauthorized persons. The wallet creators have invented a secure way of entering the PIN that can’t be keylogged and misused. | ||
==== Passphrase encryption ==== | |||
Another level of protection is the encryption passphrase which protects the device in case of seizure. Multiple passphrases can be used for plausible deniability. | |||
== Compatibility of TREZOR == | == Compatibility of TREZOR == | ||
===By OS=== | |||
* Linux | |||
* Mac | |||
* Windows | |||
===By cointype=== | |||
* Bitcoin | |||
* Litecoin | |||
* Namecoin | |||
The developers are open to add support for other significant altcoins in the future. Currently no Litecoin or Namecoin clients are ready to work with TREZOR. | |||
[https://mytrezor.com myTREZOR Web Wallet] | ===By wallet=== | ||
The hardware wallet can be used with a desktop client or a web wallet with a full [[BIP 0032]] and [[BIP 0039]] support. | |||
* [https://mytrezor.com myTREZOR Web Wallet] | |||
* [https://play.google.com/store/apps/details?id=com.bonsai.wallet32&hl=en Wallet32 for Android] | |||
== Using TREZOR == | |||
TREZOR needs an online wallet or a desktop client as an interface that broadcasts the transactions signed by the device to the blockchain. | |||
In order to send coins or change the basic settings, the device needs to be connected to a computer with a micro USB cable. | |||
In order to receive coins it is not needed to have the device plugged. | |||
== | === Sending bitcoins === | ||
=== Receiving bitcoins === | |||
=== Recovery === | |||
to be continued ... :) | to be continued ... :) | ||
== Resources == | |||
[https://bitcointrezor.com/faq TREZOR FAQ] | |||
[https://mytrezor.com myTREZOR Web Wallet] | |||
[[Category:Security]] | [[Category:Security]] | ||
[[Category:Wallets]] | [[Category:Wallets]] | ||
[[Category:Hardware]] | [[Category:Hardware]] | ||
Revision as of 03:31, 26 June 2014
TREZOR is a hardware wallet providing the highest level of security and convenience for a common computer user.
Unlike for example a cold storage (offline storage or paper wallet), TREZOR also signs transactions internally. Spending bitcoins is made securely without exposing your private keys to a potentially compromised computer.
TREZOR Hardware Design
TREZOR is a small USB device with a display and two buttons.
It connects to a computer via a USB (HID protocol like a mouse or a keyboard). The limited USB HID protocol only allows to send a transaction template to the device and protects the wallet against malware.
The display allows the user to visually verify the payment address and the amount to be sent. In order to proceed the transaction, a physical human interaction (pressing the button) is required.
TREZOR Software Design & Security
Backup
TREZOR uses hierarchical deterministic wallet creation (BIP 0032) which makes regular backups of private keys unnecessary.
When first initialized, a mnemonic code of 12,18 or 24 words, the recovery seed, is created. In case the device gets lost or stolen, the user can recover the entire holdings including transaction history into a new device or other compatible wallet, using the recovery seed.
Protection mechanisms
TREZOR provides the user with optional protection mechanisms.
PIN protection
A PIN is set by the user during the setup. It protects TREZOR against being used by unauthorized persons. The wallet creators have invented a secure way of entering the PIN that can’t be keylogged and misused.
Passphrase encryption
Another level of protection is the encryption passphrase which protects the device in case of seizure. Multiple passphrases can be used for plausible deniability.
Compatibility of TREZOR
By OS
- Linux
- Mac
- Windows
By cointype
- Bitcoin
- Litecoin
- Namecoin
The developers are open to add support for other significant altcoins in the future. Currently no Litecoin or Namecoin clients are ready to work with TREZOR.
By wallet
The hardware wallet can be used with a desktop client or a web wallet with a full BIP 0032 and BIP 0039 support.
Using TREZOR
TREZOR needs an online wallet or a desktop client as an interface that broadcasts the transactions signed by the device to the blockchain.
In order to send coins or change the basic settings, the device needs to be connected to a computer with a micro USB cable. In order to receive coins it is not needed to have the device plugged.
Sending bitcoins
Receiving bitcoins
Recovery
to be continued ... :)