Blockchain Lockbox: Hardware for Storage and Trade

Blockchain Lockbox: Hardware for Storage and Trade

On 25 October, Blockchain and Ledger made separate announcements on the release of hardware wallet Lockbox. The wallet is a partnership between software provider Blockchain and by hardware developer Ledger

The Lockbox, exclusively compatible with Blockchain Wallet, is a simple to use and secure hardware wallet. According to Peter Smith, the CEO of Blockchain, the Lockbox provides more functionality for Blockchain users.

Ledger President Pascal Gauthier described their partnership with Blockchain as a natural match; due to the crypto-security focus of both companies.

Lockbox Security and Functionality

The announcement made states the security of Lockbox is a step more intense than other hardware wallets with its use of a dual chip architecture and a locked endpoint. This is a measure to prevent phishing and spoofing attacks. It works by allowing the special key within the device to excusively link up with legitimate websites, thus preventing phishing efforts of a counterfeit website.

The Lockbox can be used not only to store digital assets offline. It utilizes Swap, Blockchain’s soon-to-launch brokerage arm, to trade between one cryptocurrency to another.

Device owners can link the hardware to the Blockchain Wallet for use. Blockchain Wallet currently supports BTC, ETH, and BCH.

Pre-Order and Shipping Schedule

Pre-orders for the device begun yesterday, 25 October. Shipping will be made in mid-November.

Hardware Wallets Recent Update

  • Earlier this week, SatoshiLabs announced the integration of ShapeShift and Changelly to the Trezor Wallet.

CoolBitX, offered a device that stores BTC, ETH, LTC, XRP, BCH, and other ERC20 tokens, the CoolWallet S. On 24 October, the Taiwan-based company partnered with Circle for USDC support.

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