BitSmart Bitcoin Hardware Wallet - Proof of Concept

[rdbell]

I've developed a proof-of-concept for a hardware wallet that includes the "cold" (key storage) device and the "hot" (broadcast) device in the same physical unit. Check it out: https://www.youtube.com/watch?v=avTltQwS3gI

The BitSmart Wallet device is two small computers in one package. One computer connects to the internet via WiFi and is used for generating and broadcasting transactions. This is the "hot device." The other computer is the "cold device" which stores encrypted copies of all of your private keys and is used for signing transactions. The cold device is never connected to the internet, which keeps your coins safe from hackers and thieves.

The two devices communicate with each other via a shared Database, where transactions are prepared for broadcast to the Bitcoin network. This system of isolation prevents hackers from remotely installing wallet-stealing software on your machine and accessing your private keys. Private key encryption also keeps your Bitcoins safe if your BitSmart Wallet device is ever lost or stolen.

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[SloRunner]

awsome 

[asdlolciterquit]

great!

one question: why the name Proof of Concept?

[rdbell]

great!

one question: why the name Proof of Concept?

It just means demonstration (proof) of a proposed concept.

In this case, the concept is an offline wallet which houses the broadcast unit in the same physical unit, which hasn't really been demonstrated before.

[RustyNomad]

Very nice. I like the idea of having the two wallets (hot/cold) combined in one device and with them communicating directly without exposing your cold wallet to the outside world.

Will definitely invest in something like this once it reaches the consumer market.

[yslyung]

sub'ed & followed on twitter ! pls update us rdbell. i'm really keen & interested in this. thx so much for sharing with the community

[FrozenBit]

 This looks like a wonderful idea! Please, IF you ever need anything let us know. The guys at frozenbit would love to integrate this and help increase usability for your device if you commercialize it.

   To be honest on of our engineers was calling it Nintendo btc. (like Nintendo ds)