Ledger Stax - what do you think ?

[brianK]

okay Frankenstein, now⁤ you really scare me.

I understand where you want to go with this, but personally⁣ I say it won't be in my time when I ever will get such devices⁢ implemented in my body. Maybe if I'm 80 or so I would reconsider if they︀ can get me a chip to get a boner again, but else no.

 

[void]

I tend to agree - a ring or a⁣ sticker seems like a better solution for this use case

 

[void]

😀 I don't wear rings, it's not comfortable but it was an example

btw if rings are‌ dangerous, let's protect 2 billion people wearing them, covid-like measures at least... nice project
https://www.orthobullets.com/hand/6061/ring-avulsion-injuries
what's the difference between‍ NFC chip integrated in a passport, ring or sticker?

 

[spagge123]

Someone know any cold wallet (not Ledger) that supports USDT TRC20?

 

[abrahamtholos]

Ledger is a decent hardware wallet solution - but it really depends on your use-case.‌ The reality is that single-signer solutions (e.g. Ledger, Metamask, Trezor, etc) should only be used‍ for individuals holding modest sums of $$. Hardware wallets like Ledger are also susceptible to⁠ physical compromise and penetration.

More sophisticated individuals or businesses etc should stick with multi-signer wallets⁤ (MPC or multi-sig based).

 

[intlman]

Not a fan of ledger at⁤ all.

I'm biased, but I think Coinkite make the best BTC-only hardware wallets out there.⁣

Indeed.

 

[void]

business surely... out of necessity
I don't see how could‍ individual benefit from increased complexity

 

[abrahamtholos]

Depends on the individual and the context. For an individual‍ holding $10k in a couple of coins it doesn't make any sense.

That being said,⁠ if you are an UHNWI holding a serious amount of funds on-chain; being able to⁤ leverage a distributed multi-signer system to safeguard funds starts to make more and more sense..⁣

 

[void]

I'd say most individual whale grade holders nowadys are very competent enthusiasts

once average dollar⁣ multimillionaires will hop in full steam custodial solutions will naturally emerge

 

[abrahamtholos]

Not entirely sure if you’re referring to my comment, but if you are; you can‍ control the additional signatures from additional devices rather than having a single point of failure⁠ in one device.

 

[void]

no hw wallet represents a single point⁠ of failure - if it does then it's a wrong setup

 

[abrahamtholos]

What do you‍ mean by "multiple signatures for a single device"? Most multi-signer wallet setups distribute the signatures/key⁠ shards across multiple devices.

 

[abrahamtholos]

A hw wallet is inherently a single‍ point of failure; it is one device. If that device is hacked or accessed -⁠ your assets are lost.

Equally - if you have a single seed phrase; if that⁤ seed phrase is leaked, your assets are gone.

 

[Freetrade]

After multiple bricked Ledgers years ago I would never give them a single satoshi again.‌
I prefer the Grid lattice. One seed per card and a nice screen to see‍ exactly what you are signing.

 

[void]

I've never heard about this⁠ company/device. I'm too lazy to search now... what makes it different/better compared to ledger or⁤ trezor devices?

it doesn't seem very portable

 

[void]

fault
double fault

you're not⁤ supposed to use hardware wallet this way - if you worry about your device being⁣ lost or broken or about somebody finding your seed backup then something is seriously wrong⁢

 

[abrahamtholos]

This is how 90% of⁠ people use hardware wallets.

Sure you can have Shamir on a Trezor or have multiple⁤ redundancies and distributed partial seeds, but this is far from standard.

 

[abrahamtholos]

Okay got it.

So typically‌ if you have multiple signatures (technically partial signatures not signatures but regardless) for a single‍ wallet this will be a wallet that uses Multi-party Computation (MPC). There is no single⁠ key, but rather there are a number of key shards; of which a threshold number⁤ of shards have to be used to approve a transaction. The key shards are off-chain⁣ and the signing process is also off-chain taking placeat the cryptography layer.

Whereas, if you⁢ have multiple wallets controlling a single signature this will be a wallet that uses multisig.︀

MPC vs Multisig is a divisive topic, but for most use-cases I think MPC is︁ the better solution. A couple benefits you get with MPC that you don't get with︂ multi-sig:

- Blockchain agnostic; since MPC is off-chain, the same cryptography is used across all︃ protocols with the same signing scheme. This means that you have a narrower surface area︄ of attack than relying on the distinctive smart contract implementations of multisig on each chain︅ you want to hold assets on.
- native compatibility with all decentralized applications
- more︆ flexibility in terms of policy creation and access control
- lower transaction fees
- ability︇ to easily refresh keys...

 

[void]

you're not supposed to write a PIN on your credit card despite it's convenient... yet many‌ people do it
giving them more cards or PINs to get cash from the ATM‍ doesn't solve the problem

 

[abrahamtholos]

The better comparison would be⁠ whether you should be able to access a bank account and move funds with someones⁤ email and password or if you should have to have their email + password +⁣ authentication through mobile phone + in-person or over the phone verification for a large transfer...⁢ in other words; one layer of authentication vs multiple.

Again - I don't think multi-signer︀ wallets are the right fit for most people; but I do think they're a better︁ fit for managing sizable amounts of assets than using a hw wallet in most circumstances.︂