Status Launches A Hardware Crypto Wallet

Status, which is an Ethereum messaging app and mobile browser startup, has, as per recent reports relaunched their cryptocurrency hardware wallet under a new name: the Keycard. The wallet is entirely open source and will be distributed to interested blockchain developers for free and later sold directly from Status’ website at $29 per piece.

It has been highlighted by Guy-Louise Grau, that the hardware is the “exact same shape as a Visa card you have in your wallet today.”

He also said,

“[Keycard] is contactless. It’s going to work with your mobile crypto wallet. You’ll just need to tap your Keycard on a mobile device to sign transactions. Functionally speaking, it’s really a hardware wallet but it works with mobile.”

The firm has also revealed that the Status Keycard is compatible with several cryptocurrencies including bitcoin, bitcoin cash, litecoin, XRP, ether, and all ethereum-based ERC20 tokens. The batch of the wallets are slated to arrive by mail to the interested parties by early March, but according to Grau. they won’t be user-facing initially. He said,

“We’re not announcing a full end customer product with Keycard… We’re releasing a tool actually. That’s the way it should be seen. At this stage, it’s a tool for third-party blockchain projects that want to secure their application with a cost-effective hardware wallet.”

He also clarifies that the integration and incorporation of the Keycard into Status software will be released later this year, and the company unlike most other cryptocurrency wallet manufacturers, wants to encourage people to build the card themselves.

The Keycard API – which is the codebase integrating with hardware to perform a number of different applications such as storing private keys, signing transactions, tap-to-pay, and more – runs on common, standardized technology that has been around for over 15 years.

“Our software is open and runs on Java Card so if a third-party project wants to build its own Keycard, they would use our open-source software and they just need to have it run on the Java Card – which is available through hundreds of manufacturers since it’s such a common hardware,” highlighted Grau.

While emphasizing the fact that the security of any cryptocurrency hardware wallet “is tightly linked with openness,” Grau added:

“Security should be able to be assessed by anyone. That’s why software and hardware needs to be open. That’s the first and most important thing. And then as much as possible, use widely used hardware platforms.”

Status’ Keycard is now available for developers to review on Github and can also be ordered for early delivery next month through their official website.