Infineon Technologies: SECORA™ Blockchain Enables Secure and Seamless Cold Wallet Applications for Private Keys and Cryptocurrency
Infineon’s SECORA™ Blockchain enables secure and hassle-free cold wallet applications for private keys and cryptocurrencies
Munich, Germany – May 16, 2023 – The decentralization of the Internet and blockchain technology brings many benefits to 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 (FSE: IFX / OTCQX: IFNNY) 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.
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 working 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. “For example, 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.”
About SECORA Blockchain
SECORA Blockchain can encrypt data and sign transactions with a private key. The device has an integrated chip that can establish a direct and easy connection to the corresponding blockchain entry with an NFC-enabled mobile device. Unlike other solutions on the market, the signature key, which is the most important user credential, is not generated on the mobile device, but stored securely in the crypto chip. This hardware is Common Criteria EAL6+ certified and designed to protect user credentials from physical attacks. This further increases the security of the application.
The SECORA Blockchain combines a small crypto chip with a radio antenna in a flat package with a maximum total thickness of 300 µm. It can be attached almost invisibly behind a label or on the product itself, making it easy to integrate. In addition, standard card form factor packages are also available. As a hardware-based solution, SECORA Blockchain has a decisive advantage over other blockchain access options: It is protected against both hardware- and software-based attacks.
More information on Infineon’s SECORA Blockchain security solutions is available here.
About the Function X Foundation
The Function X Foundation is a non-profit, independent organization that supports the growth of the Function X Ecosystem, a next-generation framework for Internet services built entirely on and for the blockchain. It is a completely new ecosystem that provides a new service framework by enhancing existing internet and blockchain architectures, combining the benefits of both, and using the most widely used technical solutions.
For more information about function X, visit www.functionx.io. For details on p(x)Card, visit www.pxcard.io.