The popular cryptocurrency software provider Blockchain has announced the launch of a custom hardware wallet that is exclusively tethered to the company’s flagship wallet. According to the development team behind the new hardware wallet called Lockbox, the firm collaborated with the wallet manufacturer Ledger in order to create the design.
Blockchain Launches a Hardware Wallet Called Lockbox
The cryptocurrency and distributed ledger software provider Blockchain has announced the launch of a new hardware wallet called Lockbox. Launched in August 2011, the company has provided a variety of data services and a non-custodial wallet product that’s seen 29.5 million wallets created over the years. With the Lockbox hardware wallet, the device is fully compatible with the firm’s wallet software and users are able to benefit from both services. The well-known hardware wallet maker Ledger worked with Blockchain in order to create the wallet’s design and custom firmware. Lockbox is not compatible with other Ledger platforms like the Ledger Live application.
“We’ve created an elegant software and hardware integration that offers more functionality than previously existed in our space. Peter Smith, CEO, and co-founder of Blockchain stated during the announcement. “We’re thrilled to offer the Lockbox to Blockchain users so they can easily manage their funds online and offline seamlessly.”
The President of Ledger, Pascal Gauthier, also explained that these days stories about cryptocurrency hacks “continue to dominate headlines.” “It’s obvious that security must be top of mind for all stakeholders in the crypto space,” Gauthier emphasized. Additionally, being FIDO certified, the Lockbox device can be used as a secondary security key for Dropbox, Google applications, Github, and more.
Blockchain’s Lockbox is $99 and available for pre-order beginning on Oct. 25 and the company is accepting BCH, BTC, Paypal, Visa, and Mastercard for purchases. From the looks of it, the Lockbox is almost identical to the Nano. In contrast, the Lockbox is sized at 98mm x 18mm x 9mm but is blue with a Blockchain logo. The Blockchain Lockbox custom firmware is compatible with Windows (7+), Mac (10.9+), Linux or Chrome operating systems. However, just like the Ledger Nano, the application requires the owner to use Google Chrome or Chromium. A glance at the product’s webpage, the language suggests Blockchain believes the new Lockbox is a secure product that can go head-to-head with the competitors like Trezor and Keepkey.
“Our dual chip architecture guarantees cryptographic protection so you can store your crypto worry-free. Your private keys stay protected behind your secret PIN,” the website states.
Hardware wallet popularity has grown exponentially since last year’s bull run and the thousands of cryptocurrency thefts that took place over the years. 2018 has seen a few new entrants in the hardware wallet space such as the Coolwallet and the latest Ellipal wallet.
The new Lockbox comes with all the standard items most of the others come with, including a USB cord, mnemonic phrase card, and instructions. Blockchain also has a Lockbox support web page created for those who want to learn about the setup process. The company says it takes only a few steps to connect an existing Blockchain wallet to the Lockbox device.