Cypherock
  • Introduction
  • Design Decisions
    • The balance between security and convenience
    • Cypherock X1 Hardware architecture
      • Using ultrasonic welding for the X1 Vault enclosure
      • Encrypted NFC communication for X1 cards
      • Using Javacards instead of MicroSD
      • Choosing USB vs QR Code
      • Why the X1 cards are not upgradeable
    • Cypherock is BIP39 compliant
    • Private keys should be near to impossible to extract
    • Conflict between trusted parties should not result in unauthorized access
    • Using Shamir Secret Sharing vs. Multi-sig
      • How is Shamir Secret Sharing implemented within Cypherock X1
      • Why Cypherock has a default 2/5 threshold scheme
      • Rejected Key Schemes
    • PIN Protection on Cypherock X1
      • Difference between backing up your PIN vs. Seed Phrase
  • Security Overview
    • Introduction
    • Keylabs - Third Party Security Audit
    • Remote Attacks
    • Physical Attacks
      • $5 Wrench Attack
      • PIN Brute Force Attack
      • Evil Maid Attack
      • Flashing Malicious Firmware
      • Side Channel Attack
      • Supply Chain Attack
  • Cypherock X1 Features
    • Eliminate messy paper backups
    • Open source with secure elements
    • Use Cypherock as a seed phrase vault
    • All-in-one Portfolio Manager
  • Getting Started
    • Download cySync
    • Import Seed Phrase from existing BIP39 compatible wallet
    • Generate a new wallet with Cypherock X1
    • How Cypherock generates your 24-word seed phrase
    • Best practices in keeping your X1 cards secure
      • Use the protective card sleeves
      • Geographical Seperation
      • Choosing your guardians
    • How do I know I am not locked-in to using only Cypherock X1
    • How do I know my Cypherock X1 is genuine?
      • Email 2FA for Product Authentication
    • How to recover your Crypto assets in the case of loss or theft
    • What happens to my Cypherock X1 if Cypherock goes out of business?
Powered by GitBook
On this page

Was this helpful?

  1. Design Decisions

The balance between security and convenience

When it comes to building crypto wallets, there is always a tradeoff between security and convenience that drives decision-making. We at Cypherock fundamentally believe that users in web3 will have two different wallets just like how the average user today has a savings account and a checking account. The user will be using a hot wallet as a checking account for doing more frequent transactions optimizing for convenience and a hardware wallet as a savings account for keeping most of the assets and optimizing for security. Cypherock aims to be the default Crypto savings account for the user.

There are crucial wallet functions such as entropy generation, private key storage, and transaction verification that are safest when they are carried out in an offline hardware-based environment. Although hardware solutions carry out these functions in certified hardware environments, they leave a crucial element of backups exposed to human error - which renders its complexity useless. Wallet backups refer to seed phrase backups, that are usually stored on pieces of paper, or metal. Wallets backups essentially expose your private keys to prying eyes that if lost or stolen would mean the loss of your Crypto assets. In order to remove the need to back up the wallet completely, Cypherock built a state-of-the-art hardware wallet that combines Shamir's Secret Sharing and tamper-resistant hardware to break down your seed phrase into 5 Cryptographic parts such that you need any 2 but at least 2 parts to make a transaction. Hence, even if you lose any 3 Cryptographic parts, your assets are still accessible from the remaining parts.

PreviousIntroductionNextCypherock X1 Hardware architecture

Last updated 2 years ago

Was this helpful?