Cypherock X1 uses Shamir Secret Sharing along with distributed tamper-proof hardware storage used in the banking industry to prevent single point of failure with private key security. X1 has five components- 1 X1 Wallet and 4 X1 Cards. Your Crypto private keys are distributed in 5 components, such that you need any 2 out of those 5 to access and/or recover your Crypto assets.
Product Features:
- Cypherock X1 is the World's first BIP-39 seedless wallet. Unlike other wallets, there is no need for the user to write the 24 recovery words or the seed phrase anywhere.
- Open Source with secure elements both on the X1 Wallet and the X1 cards. Source code - github.com/cypherock
- Cypherock X1 is the World's first sufficiently trustless wallet. As a Crypto investor, you have to trust your wallet provider that they will not push a malicious software update to your wallet that extracts out the private keys. In Cypherock X1, even if a developer pushes a malicious software update to the X1 wallet, they will not be able to compromise your private keys since your private keys are never stored as a whole on X1 wallet. X1 cards are not upgradable once shipped to the users.
- No Single Point of Failures as the private keys are never stored in a single place.
- Cypherock X1 solves for the first time the inheritance problem with Crypto assets without compromising the privacy and control of the assets. (Coming Soon)
- Majority of the hardware wallets today only allow the user to store one seed phrase wallet per hardware. Cypherock X1 allows the user to store upto 4 different wallet seed phrases on a single Cypherock X1. Generate new wallets or use any of these 4 slots to backup your existing hardware and software wallets, thereby making them seedless too.
- Portfolio Aggregation: Backing up existing wallets allows you to manage your multiple wallets from a single interface i.e the Cysync App.
Website: https://www.cypherock.com
Security Audit Completed by Keylabs.io without any major vulnerabilities found. Read more - https://keylabs.io/cypherock
This thread is in continuation to https://bitcointalk.org/index.php?topic=5422455.0
A huge shout out to @Dkbit for asking genuine questions and recommending to start a dedicated thread.