BTC Prague 2024 witnessed the unveiling of Trezor’s latest innovations aimed at bolstering self-custody of digital assets. The renowned crypto hardware wallet manufacturer introduced the Trezor Safe 5 hardware wallet, a dedicated bitcoin-only version, and the “Trezor Expert” onboarding service.
The new Trezor Safe 5 device is designed to securely store, manage, stake, and use thousands of cryptocurrencies via the Trezor Suite desktop and mobile app. Key features include a larger color touchscreen with haptic feedback, a new secure element for protecting sensitive information and performing cryptographic operations, and an enhanced 20-word backup process, according to a statement shared with The Block.
Trezor continues its commitment to open-source solutions, allowing the community to audit and address vulnerabilities swiftly. While open-source devices may be easier to crack if stolen, the Trezor Safe 5’s secure element boasts an EAL 6+ certification, confirming its resilience against sophisticated attacks.
The new backup process introduces a more advanced multi-share backup system, enhancing security by eliminating single points of failure. This system uses Shamir’s secret sharing to split the master secret key into multiple unique shares. Users can customize the number of shares and determine how many are required to restore the wallet, ensuring access even if some shares are lost.
Additionally, Trezor will offer a 20-word version of its Trezor Keep Metal solution starting in July, providing protection for wallet backup phrases against fire, water, and physical damage. The new device will also support legacy backup processes for user convenience.
“Many crypto enthusiasts understandably lack trust in exchanges and seek an easy, secure way to interact with their crypto assets,” said Trezor CEO Matěj Žák. “Hardware wallets are often designed more for ‘hodling’ rather than regular use of crypto. We saw an opportunity to innovate — enter the Trezor Safe 5, the ultimate hardware wallet for crypto users seeking everyday utility combined with the highest level of security and effortless usability.”