Blockchain And Ledger Partner On New Hardware Wallet ‘Lockbox’
Blockchain, one of the oldest web wallet providers, has released a hardware wallet called the Lockbox in partnership with Ledger, the most popular hardware wallet maker.
According to the recent announcement, Ledger has struck a partnership deal with one of the earliest cryptocurrency web wallet provider, Blockchain, to produce a unique type of cryptocurrency storing device.
The product is currently available for pre-order at $100 and will begin to ship in two weeks.
Cold storage devices are the most secure places to keep your cryptocurrencies, and a French company, Ledger, is one of the best-known producers of these hardware wallet solutions.
Their Nano S hardware wallet was released in 2016, and since then has become the most popular hardware wallet in the market.
Lockbox hardware wallet
The partnered companies declare that their new product, named Lockbox, enables existing Blockchain users to easily control their online and offline digital funds through a well-known Ledger interface.
Lockbox is a combination of both partners’ technologies, which will provide Blockchain users with completely new possibilities.
Users will be able to divide their funds and place a portion of them into the offline part of the system while leaving the rest of the funds in the Blockchain’s non-custodial web wallet.
Funds stored in the web-wallet will be accessible without the hardware wallet.
“The Lockbox is a reflection of what our companies both do best. We’ve created an elegant software and hardware integration that offers more functionality than previously existed in our space. We’re thrilled to offer the Lockbox to Blockchain users so they can easily manage their funds online and offline seamlessly,” said the CEO and co-founder of Blockchain, Peter Smith.
Blockchain’s official website explains that the Lockbox device can be accessed with a secret PIN number, and is further secured by a dual chip architecture which is said to guarantee cryptographic protection.
“With stories about crypto hacking continuing to dominate headlines, it’s obvious that security must be top of mind for all stakeholders in the crypto space,” declared Pascal Gauthier, president of Ledger, emphasizing the paramount importance of his company’s product.
“With the combined forces of Blockchain and Ledger, users are truly getting the best of both worlds. Our partnership with Blockchain is the first of its kind, but as two companies hyper-focused on crypto security, it’s one that’s a natural fit,” he concluded.
And that “natural fit” makes possible for the Lockbox system to be interlaced with the Blockchain wallet in such a way that users can trade crypto seamlessly and receive funds in the hardware wallet without being connected.
Lockbox is multi-compatible
Lockbox is compatible with Windows 7 or higher, MacOS version 10.9 or higher, Linux and Chrome OS.
Furthermore, Lockbox is FIDO Certifiedcan, which means that it can be used as a security key for Google, GitHub, or Dropbox.
However, this unique device isn’t compatible with other Ledger products as it designed by the company specifically for Blockchain and runs on the custom Blockchain firmware, which is enabling Lockbox’s exclusive features.
Users can already pre-order Lockbox on Blockchain’s website for $99,99.
There is competition
We can say that the race between top cryptocurrency hardware wallet producers is tighter than ever as Ledger’s top competitor, Trezor, infused its system with ShapeShift’s and Changely’s brokerage services, which enable crypto trading on the device.
Nevertheless, these two are getting some serious competition in the form of the world-famous electronics giant, Sony, who announced a contactless IC card type cryptocurrency hardware wallet on October 23rd.
Sony’s hardware wallet solution uses contactless IC technology to store private keys offline. It also enables users to sign transactions from NFC-enabled mobile devices.
Looking at all these developments, we can conclude that this will be an interesting winter in the crypto-security department.