Cypherock Wallet
Contents
- 1 Cypherock
- 2 How does it work
- 3 Security audit conducted by Keylabs
- 4 Cypherock X1 Features
- 4.1 No more seed phrase backups
- 4.2 Open source even with secure elements
- 4.3 4 different hardware wallets within 1 Cypherock X1
- 4.4 Use It as Vault to Secure Other Seed Phrases
- 4.5 Manage your entire Crypto Portfolio across your other wallets in a single place
- 4.6 No More Losing Crypto In Case Something Happens To You
- 5 Resources
- 6 Community
Cypherock
Cypherock homepage: Cypherock.com
Cypherock X1 is a hardware wallet that simplifies self-custody by removing the need to maintain seed phrase backups.
Cypherock has a unique private key management system that eliminates the need for maintaining seed phrase backups, allows import of existing BIP39 compatible wallets, and solves for crypto inheritance without compromising privacy and control of your Bitcoins.
How does it work
Cypherock uses Shamir Secret Sharing to shard the private key of the wallet into 5 tamper-proof hardware components - namely the X1 wallet and 4 X1 cards. These hardware components interact with each other using NFC technology. Using a 2-of-5 threshold scheme, any 2 of the 5 shards can be used to reconstruct the private key and make transactions.
Learn more about how Cypherock helps you manage your crypto securely:
Security audit conducted by Keylabs
Cypherock has been successfully security audited by Keylabs. The conclusive audit has been made public by Keylabs, and posted on the Cypherock website
View Cypherock's security audit report: Keylabs security audit report - Cypherock
Cypherock X1 Features
No more seed phrase backups
Cypherock X1 wallet does not require users to maintain a seed phrase backup of any form. The hardware components of the Cypherock X1 themselves act as backup mechanisms. In the case an X1 card, or even the X1 device is lost, the wallet can always be recovered as long as two shards are available - either 1 X1 device and 1 X1 card, or 2 X1 cards.
Learn more about Cypherock and seed phrase management
Open source even with secure elements
Cypherock has a unique hardware architecture that allows the wallet to be open source while offering the highest level of security.
Learn more about how Cypherock ensures security while being open source
4 different hardware wallets within 1 Cypherock X1
Cypherock has the ability to manage upto 4 independent wallets - each wallet with its own seed phrase.
Use It as Vault to Secure Other Seed Phrases
Cypherock can be used to store the seed phrases of your other existing wallets like, Ledger, Trezor etc. Using the Cypherock X1 as a backup mechanism, existing seed phrase backups can be destroyed to leverage the improved security architecture of Cypherock.
Manage your entire Crypto Portfolio across your other wallets in a single place
By importing the seed phrase of existing wallets, and managing them all within Cypherock X1, users can view the entirety of their portfolio through the CySync desktop application.
No More Losing Crypto In Case Something Happens To You
Cypherock eliminates fear around loss of Crypto in case you die. With our beneficiary service, the assets can be transferred without Cypherock or any other party ever knowing the amount you hold in the X1 wallet. The inheritance feature is currently under development.
