Cypherock is a company founded in 2019 to build India's 1st Hardware Wallet. Cypherock X1 is the 1st product released by the company.
Cypherock comes with 5 hardware components - 1 X1 Vault and 4 X1 Cards. The X1 Vault is the main computational device used to perform transaction signing and verification. It comes with a screen, 5-way joystick and connects through USB-C. The X1 Cards are same secure hardware used in the banking industry to make your debit cards and communicate with the X1 Vault through encrypted NFC. In order to perform a transaction, you need the X1 Vault and you just need to tap any X1 Card to authorize it.
Features1. Unlike other hardware wallets, Cypherock X1 allows you to secure upto 4 seed phrases in the same product. You can protect each with a different PIN. Hence you can use one wallet for storing NFTs and maybe another wallet just for securing your valuable coins.
2. There is inherent protection against loss. As along as you have access to 2 out of the 5 components (either 2 X1 Cards, or 1 X1 Card and the X1 Vault), your assets are accessible. You can lose upto 3 components at the same time and still be sure that your assets are recoverable.
3. There is inherent protection against theft. For a hacker to compromise the assets, he will have to find the locations of atleast 2 out of the 5 components physically and then buypass the PIN protection on top of them individually, which is extremely difficult.
4. There are no seed phrase vulnerabilities. You are not required to backup your seed phrases on a piece of paper or a metal backup.
5. It supports more than 3000 digital assets.
6. It is the World's first sufficiently trustless wallet. Today, 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 Vault, they will not be able to compromise your private keys since your private keys are never stored as a whole on X1 Vault permanently. X1 cards are not upgradable once shipped to the users.
7. It is going to support a non-KYC inheritance service that will allow your assets to be recoverable by your loved ones without Cypherock ever in a position to compromise user's assets. More on this soon!
8. It is BIP39 compliant. Hence it is interoperable with your existing wallets.
9. It is made and shipped from India. Hence you don't need to pay customs for the product and you get local customer support.
Use Cases1. Use it as a hardware wallet without needing to backup the seed phrase. You can read more here -
https://cypherock.com2. Use it as a seed phrase backup manager to secure the seed phrases of your other hardware and software wallets. You can always view the seed phrase of a particular wallet by tapping an X1 card on an X1 Vault and entering the PIN. You can read more here -
https://cypherock.com/wallet-backup3. You can view and manage all your other wallets' portfolio through a single app. You can read more here -
https://cypherock.com/portfolio-managementSecurity1. It is open-source -
https://github.com/cypherock.
2. It is audited by Keylabs that have found vulnerabilities in Ledger and Trezor hardware wallets before -
https://cypherock.com/keylabs.
3. X1 Cards have EAL 6+ certified secure elements. You can set a PIN protection on top of them.
4. X1 Vault have a dual chip architecture and uses ATECC608A secure element, the same secure chip used by Coldcard.
5. It is one of the few hardware wallets with a reproducible builds as verified by WalletScrutiny -
https://walletscrutiny.com/hardware/cypherockx1.
For technical understanding of the working of the product, you can refer this thread -
https://bitcointalk.org/index.php?topic=5459720.0I would love to get the community's feedback on the same. Here is a coupon code for 10% off if someone wants to try it out - bitcointalk10
