Secure Element in Hardware Wallets

[dkbit98]

Here are the first screenshots of Tropic Square, first open source secure element made by Trezor team.
What is interesting to see is that guys from Satochip posted this on their official twitter account.
I can't wait to see the first hardware wallet, signing device or smartphone to implement this chip.

 

I just got my hands on something truly incredible — a sample of the first-ever 100% open source Secure Element.
...Tropic flips the script: open HDL, open firmware, open tools. You can inspect, verify, and build on everything.

https://x.com/satochip/status/1911517133495738809

[Forsyth Jones]

Here are the first screenshots of Tropic Square, first open source secure element made by Trezor team.
What is interesting to see is that guys from Satochip posted this on their official twitter account.
I can't wait to see the first hardware wallet, signing device or smartphone to implement this chip.

Code:

[img height=348]https://www.talkimg.com/images/2025/04/14/xfW3H.jpeg[/img]  [img height=350]https://www.talkimg.com/images/2025/04/14/xfOSv.jpeg[/img]

I just got my hands on something truly incredible — a sample of the first-ever 100% open source Secure Element.
...Tropic flips the script: open HDL, open firmware, open tools. You can inspect, verify, and build on everything.

https://x.com/satochip/status/1911517133495738809

Finally, we're getting closer every day, there are rumors that Trezor will launch new models sometime around the last quarter.

I thought it looked well-made, despite being a sample, although I am not an expert in the production chain.

I believe that, at least for most open source HWs, there'll be a rush to either release new models with Tropic Square's secure chip (Tropic01) or simply update existing models with this new chip.

[dkbit98]

I believe that, at least for most open source HWs, there'll be a rush to either release new models with Tropic Square's secure chip (Tropic01) or simply update existing models with this new chip.

If I was in team Trezor I would never modify existing wallets and only update them with new Tropic01 secure element.
This would just create confusing and maybe even problems with future firmware updates.
It's  much better for them to release brand new device, and add something that was not available in current models, maybe airgapped functionality.
I didn't hear any rumors about new device release later this year, but this would be great to see.

[SFR10]

Finally, we're getting closer every day, there are rumors that Trezor will launch new models sometime around the last quarter.

If you were referring to a post of mine from "last week", it's not a rumor ^{[it's a fact]}... I couldn't find it back then, but I finally managed to find their response on X that mentioned "it should be this year without an ETA".
^{- Based on their activities on GitHub, there have been many developments around it, but I still think it'd take them at least another year to release it (I hope I'm wrong).}

[Forsyth Jones]

If I was in team Trezor I would never modify existing wallets and only update them with new Tropic01 secure element.
This would just create confusing and maybe even problems with future firmware updates.
It's  much better for them to release brand new device, and add something that was not available in current models, maybe airgapped functionality.
I didn't hear any rumors about new device release later this year, but this would be great to see.

Makes sense, maybe manufacturers won't just updating the hardware of existing models like they what happens with consoles mid-generation (PS5 > PS5 Pro, etc.) when a new processor comes out.

If you were referring to a post of mine from "last week", it's not a rumor ^{[it's a fact]}... I couldn't find it back then, but I finally managed to find their response on X that mentioned "it should be this year without an ETA".
^{- Based on their activities on GitHub, there have been many developments around it, but I still think it'd take them at least another year to release it (I hope I'm wrong).}

Thanks. I vaguely remember reading your post about that.

It would be great for them to add an airgap feature. We have to remember that Trezor's target audience is mostly beginners, altcoiners and/or people getting their first hardware wallet, but adding airgap wouldn't cost anything since it doesn't have to exclude the other option (USB cable connection).

However, I suspect that instead of airgap, they might add an encrypted Bluetooth feature to reach the iOS users.

[dkbit98]

If you were referring to a post of mine from "last week", it's not a rumor ^{[it's a fact]}... I couldn't find it back then, but I finally managed to find their response on X that mentioned "it should be this year without an ETA".
^{- Based on their activities on GitHub, there have been many developments around it, but I still think it'd take them at least another year to release it (I hope I'm wrong).}

Thanks! That is a nice confirmation from official source.
I can't wait to see the new hardware wallet from Trezor team, but they really need to step up their game here.
What I want to see is aigrapped device with camera, and if they add battery that should be easy to remove and replace.
I just hope they won't charge a fortune for that  

[DaveF]

Finally, we're getting closer every day, there are rumors that Trezor will launch new models sometime around the last quarter.

If you were referring to a post of mine from "last week", it's not a rumor ^{[it's a fact]}... I couldn't find it back then, but I finally managed to find their response on X that mentioned "it should be this year without an ETA".
^{- Based on their activities on GitHub, there have been many developments around it, but I still think it'd take them at least another year to release it (I hope I'm wrong).}

Did some looking and didn't see it. [This is where someone points it out in 48 point blinking red text] Has there been a firm price set on it yet? Along with MOQ.

Yeah it's still months and months away but it's one of those things that some people want / need to know before beginning to design something around a new component.

-Dave

[SFR10]

I can't wait to see the new hardware wallet from Trezor team, but they really need to step up their game here.

Did some looking and didn't see it.

Judging by how they've labeled it ^[T3W1], I knew it'd come in a new form factor, but I wasn't expecting it to be twice as big as their previous models ^{[size comparison]}: Direct link ^{[click on the test and main buttons to access different HTML files]}

It would be great for them to add an airgap feature.

What I want to see is aigrapped device with camera, and if they add battery that should be easy to remove and replace.
I just hope they won't charge a fortune for that  

I'd love to see these features together with their secure element in a new product, but it'd probably cost north of $300 ^{[unfortunately]}.

Has there been a firm price set on it yet? Along with MOQ.

AFAICS, they haven't set a price & MOQ for it yet, but it'd probably cost more than Safe 5 ^{[my guess is $200 - $220 range]}.

[Forsyth Jones]

I'd love to see these features together with their secure element in a new product, but it'd probably cost north of $300 ^{[unfortunately]}.

Honestly, Trezor's segment (at least from my perspective) is for beginners to intermediate bitcoin users. The Model T and Trezor Safe 5 already have SD card slots, they could've implemented airgap functionality since the Model T.

It would be great if Trezor released a dedicated airgap model (similar to the coldcard q with a keyboard or with a larger screen for a QWERT keyboard touchscreen). That way it wouldn't cost as much, similar to what they do with the standard and bitcoin-only models. Diversifying their audience.

[Synchronice]

Here are the first screenshots of Tropic Square, first open source secure element made by Trezor team.
What is interesting to see is that guys from Satochip posted this on their official twitter account.
I can't wait to see the first hardware wallet, signing device or smartphone to implement this chip.

 

I just got my hands on something truly incredible — a sample of the first-ever 100% open source Secure Element.
...Tropic flips the script: open HDL, open firmware, open tools. You can inspect, verify, and build on everything.

https://x.com/satochip/status/1911517133495738809

Open-source hardware is becoming popular as I see because I heard about that 4th time this year, out of nowhere. This is extremely interesting but I don't understand one thing about Secure Elements and this question isn't directly about TropicSquare, it's a general question. Ledger also had a Secure Element, right? So, how was it possible  to extract keys from Secure Element? Isn't Secure Element designed in a way to never expose a private data? Or does its efficiency depend on the firmware?

Overall, open-source Secure Element and open-source wallets will extraordinarily improve the security of air-gapped crypto wallets but to be completely frank, they are safe enough to not worry about till the quantum threat appears.

[Forsyth Jones]

Open-source hardware is becoming popular as I see because I heard about that 4th time this year, out of nowhere. This is extremely interesting but I don't understand one thing about Secure Elements and this question isn't directly about TropicSquare, it's a general question. Ledger also had a Secure Element, right? So, how was it possible  to extract keys from Secure Element? Isn't Secure Element designed in a way to never expose a private data? Or does its efficiency depend on the firmware?

Overall, open-source Secure Element and open-source wallets will extraordinarily improve the security of air-gapped crypto wallets but to be completely frank, they are safe enough to not worry about till the quantum threat appears.

Depending on the firmware installed, if it's programmed to extract private keys or any sensitive data if the user activates ledger recover, for example, to another server, the SE will do so with the authorization of the firmware.

For example, if there are lines of code that specify: if the user signs up and agrees to the terms of ledger recover, he is authorized to send/share encrypted parts of the keys to servers x, y and z...

[Cricktor]

Ledger also had a Secure Element, right? So, how was it possible  to extract keys from Secure Element? Isn't Secure Element designed in a way to never expose a private data? Or does its efficiency depend on the firmware?

As far as I understand Ledger's design concept they use firmware extensible Secure Element and coin apps are actually extension blobs of their Secure Element's firmware. If I'm wrong with this statemant, kindly correct me.

Because they can control certain parts of the Secure Element's firmware, their Secure Element can do things that other Secure Elements normally won't do. This doesn't necessarily mean, it's for the better. Ledger's Recovery Service is an abomination and breaks fundamental concepts and trust of Secure Element's operation. Shame on Ledger for this!

P.S.
Overlapped with Forsyth Jones' post.

[Forsyth Jones]

As far as I understand Ledger's design concept they use firmware extensible Secure Element and coin apps are actually extension blobs of their Secure Element's firmware. If I'm wrong with this statemant, kindly correct me.

Because they can control certain parts of the Secure Element's firmware, their Secure Element can do things that other Secure Elements normally won't do. This doesn't necessarily mean, it's for the better. Ledger's Recovery Service is an abomination and breaks fundamental concepts and trust of Secure Element's operation. Shame on Ledger for this!

P.S.
Overlapped with Forsyth Jones' post.

According to the Ledger article, Ledger uses Secure Element to run its own BOLOS operating system. This system manages and runs each application in isolation and independently.

In simple terms, ledger apps, managed by the BOLOS operating system, request authorization from the firmware to sign transactions, derive addresses, etc.

[dkbit98]

I updated some information and added one new device.
Bitbox just released new hardware wallet BitBox02 Nova with few updates and improvements.
One of the update is new secure secure element Infineon OPTIGA Trust M, and we already know that chip from Trezor 3 and Trezor 5 devices.
We already know this is NDA-free secure elements, and documentation is fully released on their github page:


https://github.com/Infineon/optiga-trust-m-overview