Project & Justification
Cypherock is a new kind of Software + Hardware Hybrid solution that allows Cryptocurrency users to store, transact, backup, and inherit digital assets without a single point of failure. Here & Here is the latest progress video.
So How is Cypherock X1 different?
- The wallet stands strong against any kind of physical attacks as was recently demonstrated on Trezor by Kraken Labs. The wallet generates 4 shares of your private keys each of which gets stored in a cyCard, of which only 2 cyCards are required for signing a transaction. So even if your wallet gets stolen, no one can access your funds.
- Current hardware wallets secure the crypto but the unencrypted seed phrase on the paper becomes a single point of attack. If you don’t want to use it as a hardware wallet, it can be used to secure the seed phrases without a single point of failure. This device provides similar security as that of Multi-sig but for your seed phrase.
- Current gen hardware wallets do not have any way to transfer funds to your loved ones without trusting an entity. Using the Cypherock X1 wallet enables the user to this without compromising with privacy and control of the assets. We are also coming up with an inheritance service very soon.
We believe Nervos community will benefit tremendously from the support of CKBytes on the hardware platform that will allow the community to securely backup, inherit & transact the CKByte tokens without the risk of loss & theft.
Cypherock was founded in 2018 by Rohan Agarwal & Vipul Saini, who are currently the directors of the company. It currently consists of 6 engineers both in the hardware & software development roles.
Cypherock is currently backed by Consensys Labs. The founders and engineers have previously worked at/with companies like FOSSASIA (Google Summer of Code), Blockgeeks, Apollo Munich, Nymble Labs, Lockheed Martin, GreyOrange, ARM to name a few. The hardware currently is in private beta.
You can find us on - Medium, Twitter. The codebase of the product is currently closed sourced till launch.
High-Level Technical Specifications
- Develop the React library for constructing a transaction for CKByte token.
- Create a one-click deployment with NodeJS and AWS for the node infrastructure.
- Transaction signing library in C for the token with the Embedded Hardware support.
- Support for Backup & Inheritance of the token.
We estimate the implementation timeline to be between 8 weeks to 12 weeks.