Trezor, the crypto hardware wallet maker, has announced that it will take control of its wallet chip production process by producing its own silicon chips. The company claims that the newly designed “chip wrapper” will improve device security and significantly shorten lead times for mass production.
Trezor ‘unpacks the process’ and produces its own silicon chip
On February 27, 2023, the Prague-based cryptocurrency hardware wallet company Sure announced that it is now responsible for its own silicon chip manufacturing process. According to Trezor CFO Štěpán Uherik, the new “chip wrapper” allows the company more design freedom for future products. Last year, Trezor’s parent company, Satoshi Labs, revealed its support for a startup called Tropic Square to produce an open source silicon chip called “TROPICAL01” for use in crypto hardware wallets.
The new chip manufacturing process significantly improves security by eliminating third-party chip makers and associated vulnerabilities. Trezor also noted that it will significantly reduce delivery times by avoiding supply chain issues. In a press release sent to Bitcoin.com News, Uherik further explained that the company is collaborating with microelectronicsmanufacturer of microcontrollers and semiconductor technologies.
“By unpacking the process, identifying areas where we could take control, and collaborating with our partner (Stmicroelectronics) in new ways,” Uherik said in a statement, “we have made manufacturing as agile as possible. This means that we can respond quickly as the cryptocurrency market shows signs of recovery. It also adds more design freedom for future products, helping us maintain our leadership in the increasingly competitive hardware wallet space,” added Trezor’s CFO.
Hardware wallets have seen substantial demand since the FTX crash, as cryptocurrency enthusiasts have transferred billions of dollars worth of crypto assets from centralized trading platforms. In addition, several companies have introduced new models of hardware wallets, such as the Ledger Stax, a device developed by Tony Fadell, the creator of the iPod. Additionally, decentralized exchange aggregation service 1inch Network has launched a hardware wallet and Coinkite has introduced a new product called Coldcard Q1.
The new chips developed by Trezor will be used in the Trezor Model T hardware wallet. trezor first Announced its Tropic Square project and its intention to take over chip production on May 11, 2020. The Covid-19 pandemic caused supply chain disruptions, especially in the silicon chip sector. “The demand for hardware wallets and the supply chain disruptions in the silicon industry that we have experienced in recent years have been issues that we needed to address,” Uherik stated in Monday’s announcement.
What do you think about Trezor’s decision to produce its own silicon chips for its hardware wallets? Do you think this move will improve device security and lead times for mass production? Let us know in the comments section.
image credits: Shutterstock, Pixabay, Wiki Commons, Trezor, Tropic Square,
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