On March 22 the Czech-based bitcoin hardware and software manufacturer Satoshi Labs has launched a redesigned Trezor wallet with a graphical data interface and newly added security features.
Also read: How to Restore a Hardware Wallet Using a Seed Phrase
Satoshi Labs Introduces the New Trezor Wallet With Added Services
The bitcoin hardware company Satoshi Labs has been a popular choice for bitcoin enthusiasts cold storage options since 2013. Just recently the company has completely redesigned its wallet interface with a variety of new feature services added. For instance, the wallet’s transaction tab displays multiple sources of data for better auditing.
Accounts now show the full amount of funds received in the income section and the entire spent amount with the expense section. Furthermore, the display shows a graphical chart of how many bitcoins have been added to the account over time and with balances starting from the day the Trezor was activated to the present. The wallet also now displays the entire fee rate across all of the transactions sent from the Trezor account.
“The new design of the Trezor Wallet focuses on usability and familiarity,” explains Satoshi Labs. “You will see that only a little has changed in the operation logic, in order not to confuse you.”
The revamped Trezor wallet also has added a service that was previously only available using the command line interface. For instance, the new wallet now allows users to utilize the implementation of Jochen Hoenicke’s “Advanced Recovery” within Trezor’s beta channel. Satoshi Labs says this integration was a “highly requested feature” for Trezor customers that “assures no part of your seed will ever be revealed to your computer.”
Standard Recovery is still a pretty safe process says Satoshi Labs, but Advanced Recovery adds a whole new layer of protections. Using traditional Standard Recovery methods users have to enter the recovery seed in a shuffled order to make the correct combination confusing to an attacker.
Using brute computational force an attacker has to “check through all the combinations of a 24-word seed, and the attacker would have to run SHA-512 (24! ÷ 256 × 8096) 19 621 680 704 813 697 269 760 000 times,” explains Satoshi Labs. So the process is still a fairly secure technique for cryptocurrency holders.
Nonetheless, the newly added Advanced Recovery makes things even more difficult for onlooking attackers and compromised computers.
“In contrast with the Standard Recovery, the Advanced Recovery completely obfuscates the letters entered on the computer,” the hardware wallet company details. “Instead of writing whole words in a shuffled order, you will be inputting individual letters on the PIN-pad in a regular order. The computer will never know what letter is being entered, as the layout of the PIN-pad constantly changes.”
More Enhancements and Features Coming to Trezor
Satoshi Labs says they are quite pleased with the redesigned wallet system and newly added security feature. The startup also says there are more enhancements and features coming to the Trezor wallet soon. However, because the process is more technical, Advanced Recovery will not become a default option within the Trezor wallet and users will have to utilize the beta version with up-to-date firmware to try the new security option.
What do you think about the new Trezor interface and Advanced Recovery option? Let us know in the comments below.
Images via the Trezor blog, and Freedomnode.com.
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