Infineon SECORA Blockchain enables secure cold wallet application
The decentralization of the Internet and blockchain technology offers many advantages for everyday life and the economy. New Web 3.0 solutions and devices based on blockchain technology and token-based applications facilitate crypto transactions. But along with the many benefits, new applications like crypto wallets also bring risks as new threats and attack methods emerge, including cryptojacking and endpoint attacks. Most of the attacks aim to leak the user’s credentials, which are the essential key to perform transactions. With SECORA Blockchain, Infineon Technologies AG provides developers with a reliable security solution that can be used to implement secure transactions, for example enabling simple and secure Web 3.0 payment transactions for everyone.
Cold wallets, also known as hardware wallets, are a way to protect cryptocurrencies and tokens. They store and manage users’ private crypto keys and credentials on a physical device, such as a flash drive, that is not connected to the Internet. In this way, they protect digital cryptocurrencies against cyber attacks. If the application is implemented on regular MCUs, the system can be easily compromised and the content stolen. This can be prevented with Infineon’s SECORA Blockchain, a fast, easy-to-use security solution that provides best-in-class security for blockchain system integration. SECORA Blockchain can be implemented to generate and manage private keys that allow users to securely access blockchains.
Infineon supports cold wallet projects
Function X is a layer 1 blockchain network built to exchange cryptocurrencies and other digital assets in a secure, scalable and decentralized manner. The team works to bring the advantages of Web 3.0 into everyday life. To support Web 3.0 development, Function X has launched p(x)Card, an innovative and user-friendly cold wallet card. With this card, users can store the private key safely inside the card offline, acting as a key card for daily transactions.
To increase the security of p(x)Card, it relies on the SECORA Blockchain solution. “We are thrilled to have Infineon on board for the p(x)Card project,” said David Ben Kay, president of the Function X Foundation. “The team has extensive experience in developing robust security solutions and brings a high level of expertise that is critical as we move into the new era of Web 3.0. These contributions will give our users the confidence they need to break new ground. We look forward to to work with Infineon to push the boundaries of what is possible.”
“We are pleased to offer a security solution that facilitates Web 3.0 payments,” said Maurizio Skerlj, Head of Identity Solutions at Infineon’s Connected Secure Systems Division. “To make a crypto payment transaction, p(x)Card users simply open the p(x)Card app and enter the recipient’s wallet address, or they can use NFC-supported blockchain-based points of sale. Once the p(x) Card is swiped, the transaction is complete. The entire process is backed by hardware security, namely the SECORA blockchain.”