The Company Has Created A Solution That They Believe Can Mitigate Much Of The Risk Of Holding Bitcoin And Other Cryptocurrency Without The Need Of Purchasing Additional Hardware
Embedded Downloads, the developers of the BitVault, the world’s first blockchain smartphone, have introduced what they call: – “The world’s most secure cryptocurrency software wallet”
With a unique interaction between hardware, encryption and blockchain technology, the company has created a solution that they believe can mitigate much of the risk of holding Bitcoin and other cryptocurrency without the need of purchasing additional hardware.
Dynamic Key creation – Your private keys are never stored
The defining feature of this product is that the private keys are dynamically created by the user and these keys are NEVER STORED, either on a device or a third party server.
How does it work?
Using your phone, PC and blockchain together, the Embedded Vault creates secure storage for your cryptocurrency and cryptography assets.
Biometric security is a further intricate part of the security and the dynamic key generation process.
To use the Embedded Vault, you need a smart phone with a fingerprint scanner as well as a PC or laptop.
A PC application and smartphone applications need to be downloaded. The PC Application interacts with the phone over Bluetooth with an encrypted connection.
The “secret sauce” of the Embedded Vault is that the keys are dynamically created with a combination of a cryptographic transaction, biometrics as well as other hardware and software input.
You are in control of your private keys – You Are the Key
As an additional security feature all transactions are double checked by a fingerprint scan of the user.
EOT [ Encryption of things ] will be the cryptocurrency used as part of the key generation and encryption process.
What can the Embedded Vault do?
Secure storage of your cryptocurrency
In the first release you will be able to store:
- EOT Coin
- EOT Token
The development team are also in process of developing wallets for Bitcoin Cash, Ethereum and Waves. These will be made available via software updates as soon as they are complete.
EOT Coin to Token Exchange: The Embedded Vault also provides a gateway that facilitate the exchange of EOT coins to EOT Tokens to enable trading of EOT on decentralized exchanges such as the Waves Platform.
The company further announced that the Embedded Vault will be commercially available in the next few days and that further secure applications will be announced shortly.
Embedded Downloads specializes in secure hardware and software relating to the “Internet of Things”.