Cryptocurrency News

BC Vault – an Unorthodox Hardware wallet with a RNG

According to a report from A Slovenia-based security firm called Real Security has designed a hardware wallet called The BC Vault (short for Blockchain Vault). The developers believe that as of now the safest way for storing cryptocurrencies is the BC Vault. Real Security refuses to call the device as a wallet as according to them “Wallets are for pocket money and vaults are for safekeeping.”
The device and the box itself are sealed with tamper-resistant holographic tape. Along with the device, the box contains a manual that explains the setup process BC Vault. The Micro SD card is located next to the USB insert slot. To protect it from physical injuries the device comes enclosed in a foam enclosure with a few stickers and a long USB cord to attach the BC Vault to a computer.
One end of the cord is a traditional USB insert, while the other side that connects into the device itself is the new USB-C standard which could potentially become the next standardised hardware port due it’s versatility.
The cost of BC Vault would be $155 excluding VAT for European Union customers. The device plans on shipping the device to customers around the world.
BC Vault uses a global password and PIN. BC Vault generates uses a random number generator that uses an integrated gyro sensor that it generated for every individual wallet. In order to start the setup process, on the first boot, the device has to be shaken for at least a minute and a half. Using data obtained from shaking the device, the Random Number Generation mechanism inside the device creates a private key after which BC Vault,s quickstart guide begins.
The guide offers standalone software for Linux, Mac OS, and Windows. The size of the application Mac OS. Once the software is launched the users is asked to agree to an end-user license agreement.
The main BC Vault dashboard display of the BC Vault is quite different from existing hardware wallets like the Trezor or Ledger. The BC Vault uses a global password, pin and encrypted backup and does not use an unencrypted BIP39/44 seed phrase. To back up the funds, the device provides an option to save encrypted wallet data on an SD card. The wallet could also be backed up on paper by printing out a series of QR codes. Competitors like Trezor or Ledge use hierarchical deterministic wallets which means that the addresses and funds can be traced back to the seed.
Ethereum wallet dashboard. The BC Vault also allows the users to add a variety of different digital currencies like ETH, BCH, LTX, DOGE, DASH, XLM, XRP and other tokens that fork from the Ethereum network.
According to users, the product seems like a fusion of Swiss-made Digital Bitbox and the Shapeshift’s Keepkey because of the SD card backup. The user can back up the data using a micro SD card that ships with the device. The standalone software was also a nice change to having to use a Chrome extension., betting platform integrates Litecoin for payment

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