Skycoin Project Releases Affordable High-Security Hardware Wallet

Skycoin is the first cryptocurrency to issue its own hardware wallet.

Shanghai, China — Skycoin is pleased to announce the immediate availability of Skywallet, a sleek and sophisticated cryptocurrency hardware wallet designed specifically with Skycoin in mind.

Skywallet was made to support Skycoin (SKY) and Skycoin Coin Hours (SCH) out of the box, and a future firmware update will enable the Skywallet to hold many different coins and tokens, including Bitcoin, Ethereum, and more. In addition, a Hardware Development Kit (HDK) is available to developers who wish to further extend the Skywallet’s functionality.

Skywallet is initially available in three different colors (black, white, and silver) for just $39.00 USD each. Despite the massive price drop relative to competition, no corners have been cut on ensuring that these devices are secure. In fact, the Skycoin team uncovered and resolved significant flaws in the firmware code of one of the most popular devices currently available.

“We wanted everyone to have an affordable option for securely protecting their Skycoin investment,” said a spokesperson for the project.

Unlike mobile or desktop software wallets, the seed phrase (or “private key”) that generates the Skycoin address on the Skywallet is never exposed to a computer or the Internet, and cannot be accessed or hijacked by an attacker.This means the Skywallet is completely private and secure, even if one’s personal computer or Internet connection is compromised.

The security of the Skywallet software may be verified by anyone who wishes to audit the code, because the complete codebase for the firmware is hosted in an open-source repository on GitHub.

The Skycoin team is uniquely qualified to produce Skywallets, as they have nearly a decade of experience building both hardware and software solutions to some of blockchain’s most intractable problems. Skycoin’s existing hardware products include approximately 10,000 Skyminer nodes deployed around the world, forming the telecommunications infrastructure of Skycoin’s new encrypted internet: Skywire.

More exciting hardware projects, including Skywire antennas and the next generation of Skyminers, will be announced in the coming weeks and months.

The Skywallet is available to order online at beginning November 28, 2019.

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About Skycoin:

Skycoin is bringing people what they want: a truly decentralized network without any central authority. Founded in 2011 by early developers of Bitcoin and Ethereum, Skycoin quickly grew into an ecosystem of exciting and ambitious projects, including Skywire, the new decentralized Internet; CX, a revolutionary fully-featured blockchain application programming language; and the cryptocurrency itself, Skycoin — simple to use, with virtually-free transactions that execute almost instantly.

In 2020, Skycoin will release a superior "web-of-trust" blockchain consensus algorithm called Obelisk, which solves the problems inherent to "proof-of-work" and "proof-of-stake" protocols, both of which are slowing down and compromising the integrity of other major cryptocurrencies.

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