📣Motivation
Significance of the Problem and Opportunity
The blockchain and distributed ledger technology (DLT) industry is experiencing rapid growth, which means that an increasing number of people will be using these technologies on a daily basis, often without even realizing it. Blockchain has a wide range of applications, use cases, and services which bring high level of security and trust to untrusted parties that need to transact over the internet. DLT accounts often hold real monetary value such as NFTs, Tokens, Cryptocurrency and other digital Assets, making them a target for hackers. Therefore, it is important to implement effective account protection methods, such as secure hardware wallet devices, to safeguard against potential threats.
One of the most significant advantages of crypto is that users have full control over their accounts and can make transactions at any time without the need for approval from a bank or other authority. However, this also means that it is crucial for users to be responsible for the security of their accounts, as the theft of a private key or unauthorized access to an account could result in the loss of all funds without the possibility of recovery. To mitigate this risk, many people are turning to hardware wallets, which allow users to securely manage their cryptocurrency accounts without exposing their private keys. This is especially important for those who hold large amounts of cryptocurrency, as the use of a cell phone-based wallet may not provide sufficient security for such a high value. Hardware wallets are only used when a user needs to transfer funds or sign special transactions, and they are disconnected immediately after use to further enhance security.
The hardware wallet industry is still in its early stages, and there is significant room for improvement. Some major issues Citadel Wallet is working on addressing include:
Limited Feature Support: Wallets have limitations in terms of storage capacity, performance, and the features they can support on various networks. Hardware wallets often try to support as many networks as possible, but this limits the number of DLT features they can support. On the other hand, Citadel Wallet prioritizes supporting the most advanced DLT technology Hedera, and provides full support for it. In the future, simply sending crypto will not be sufficient and it is important to have a wallet that can support advanced DLT features.
Security: The most commonly used hardware wallets in the cryptocurrency industry often utilize secure elements with a lower CC EAL5+ safety certification level. These wallets also typically utilize generic microcontrollers, which act as a bridge between the secure element and the external world and the user. However, these generic microcontrollers can potentially be exploited by hackers as an attack vector, allowing them to access the device and potentially sign unauthorized transactions.
Ease of Use: Hardware wallet solutions with small sizes often come with very small screens that are not touch-sensitive and have limited buttons for interaction. These wallets can be difficult to use due to their non-intuitive user interfaces and can be time-consuming to navigate and configure. On the other hand, larger size screens offer a more comfortable experience, but they come in the form of larger devices that consume more power and have shorter battery lifetimes. It is unlikely that users will want to carry another phone-sized device in addition to their smartphones, limiting the environments in which these wallets can be used.
Battery Lifetime – By implementing the latest low power microcontroller technologies, optimizing hardware and software design, and incorporating innovative mechanical and hardware design techniques, the power consumption of hardware wallets can be significantly improved. Additionally, using high capacity batteries with compact sizes can also contribute to longer battery life. These strategies will help to maximize the efficiency and lifespan of hardware wallets operating on battery.
The Citadel Wallet aims to apply lessons learned from previous generations of hardware wallet technologies to create a secure, reliable, and user-friendly experience for interacting with the Hedera public network. It serves as a modern companion device that allows users to access decentralized applications and securely sign transactions. To ensure optimal performance, the hardware components of the Citadel wallet have been carefully selected for their ability to support ample dynamic memory, encrypted intra-core communication, secure bluetooth, long battery life, a full color touchscreen display, and all necessary cryptographic operations for transactions on the Hedera network. Additionally, a software development kit will be provided to make it easy for both users and developers to access the core features of Hedera and integrate the Citadel wallet into their distributed applications.
Citadel Wallet's key value propositions:
High Security EAL 6+ Secure Element
Secure Microprocessor with Trust Zone
Secure Bluetooth connectivity
Full support for all possible Hedera services and transaction types
Intuitive touchscreen and User Interface
Physical buttons to approve transactions
Full color 1.28” round display
Long battery life: 12 Days
USB-C Communication
NFC Wireless Communication
Integrated Storage
SDK to integrate with software wallets such as Hashpack, Blade, My HBAR Wallet, etc.
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