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BC VAULT – Redefining Standards for Secure Crypto Storage

ยท 07 Mar 2019 in Breaking, Crypto News, Wallets

IT security experts at REAL Security Inc. have created a user-friendly cold storage device that sets new security standards for hardware wallets. The BC VAULT (short for Blockchain Vault) is the first multi-crypto wallet that enables independent generation of more than 2000 anonymous wallets and offers encrypted backups by default. Featuring a 4-way control pad and a 2.42 inch display, it makes crypto transactions easier than ever, even for the inexperienced user.

BC VAULT is available in basic sturdy plastic enclosure (model reviewed), rubberized premium plastic enclosure and limited premium aluminum edition.

Large display for security reasons and ease of use

2.42-inch OLED 128×64-pixel display.

The BC VAULT display shows all the information regarding specific transaction: Sender address, Wallet name, Recipient address, Amount, and Fee.

The sole purpose of a hardware wallet is in storing private key (for signing transactions) in a secure chip and not directly exposing it, which would deem it susceptible to malware that may be found on connected devices, e.g. computer.

Man in the middle attack (MITM) can be made on the computer, which is why it is crucial to have the possibility to check the details of the transaction that one is about to sign on the hardware wallet.

In comparison: Ledger Nano S V BC VAULT. The size of BC VAULT is a bit larger than the size of a credit card (100 mm x 57 mm x 10 mm).

Anonymous Independently Generated Private Keys

While competing products use the BIP39/44 standard for the seed phrase that is by default unencrypted, thus posing a serious concern in terms of its security and storage, the BC VAULT generates each wallet separately with the help of true random number generator (RNG). RNG is initialized with an integrated gyro sensor by shaking the BC VAULT at the setup.

In addition to the unencrypted seed phrase, the BIP39/44 also generates deterministic wallets.

The benefit of non-deterministic wallets on BC VAULT is that they are never mathematically linked. A compromised wallet cannot be traced back to other wallets from the same device, ensuring the security and anonymity of other wallets in the BC VAULT.

BC VAULT hardware wallet ships with no serial or tracking number and comes pre-loaded with a bounty wallet that corresponds to an address owning 1.0 BTC. The key is encrypted the exact same way as every wallet on the device and anyone able to crack the encryption is welcome to claim the reward.

Each wallet can be additionally locked with a different PIN and passcode. The global device PIN and password will thus not be enough to gain access to crypto stored in individually encrypted wallets.

It is up to the user to decide how tight the security on the wallets will be (since they could use empty password and PIN on a wallet or even on the device).

Unique backup system

Not relying on unencrypted BIP39/44 recovery seeds, the BC VAULT enables flexible and secure backup storage. Wallets can be backed up on MicroSD cards or in the form of printed QR codes. Both storage methods are encrypted, and every device already includes one 1 GB MicroSD card.

Reliable Storage

Private keys are securely encrypted and stored in FRAM, a storage solution with lower power usage, faster write performance and more read/write cycles than flash memory has to offer. The BC VAULT can store private keys without data loss for over 200 years at 35 °C (95 °F). Alpha particles (alpha radiation) that can cause bit flips in E2PROM do not influence FRAM. The device is tamper resistant and difficult to open without noticeable damage. It also features a reversible USB 3.0 Type-C connector to avoid socket and mechanical damage.

FRAM consumes 250x less power than Flash and has a 1000x faster Data Throughput.

Ease of Use

A 4-way pad and a 2.42 inch display that fits full addresses on the screen enable easy wallet set-up and make transaction confirmation convenient as well as secure. The device allows simultaneous use of multiple wallets and currencies, managed within a single application, available for Windows, OS X, and Linux operating systems.

Users do not have to rely on external third-party applications and websites as with other hardware wallets.

Each BTC wallet supports both SegWit and Legacy addresses that can be used seamlessly as one wallet.

Multi-crypto and native ERC20 token support

The BC VAULT is the only hardware wallet on the market that supports native storage of all ERC-20 tokens (around 170.000) and allows users to manage multiple cryptocurrencies in one application and on one device. Among natively supported currencies are BTC, ETH, LTC, BCH, BNB, DASH, XRP, XLM, and many others.

U2F Authentication

Among other distinguishing features, the BC VAULT also functions as a U2F authentication tool to securely access online services like Facebook, Gmail, Dropbox, and others.  U2F tokens can be backed up as well.

Third-Party Integration

BC Vault uses special daemon application that enables the integration with third-party applications and web pages from within practically any browser that supports JavaScript. Ethereum Web3 support is also available.

Safe Firmware upgrade

Firmware upgrade (certificate signed) process is very safe and resilient to errors during the procedure. Upgrade is always done on non-active partition (of the two), thus errors during the upgrade procedures will not cause the device to break down.

Conclusion

The key advantage of the BC VAULT hardware wallet is its ability to recognize the needs of both novices and tech-savvy crypto owners. While providing the option to create and individually encrypt more than 2000 unique wallets and an unlimited number of their backups, the BC VAULT manages to stay a secure, easy-to-use and reliable long-term storage device.

 

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