Evercoin Launches a Crypto Hardware Wallet Powered by Yubikey to Rival Ledger and Trezor
Evercoin announced the launch of their new wallet during the Consensus Invest Summit held on November 12 in New York City. The newly designed hardware wallet provides a platform to exchange and store Bitcoin or other crypto coins.
The update dubbed ‘Evercoin 2’ is powered by Yubikey 5ci and features a hardware wallet almost the size of a house key. Evercoin users will now have an end-to-end encryption solution for crypto storage as well as leverage the strong authentication within the Yubikey 5ci ecosystem.
According to a publication by Evercoin’s media contact, Miko Matsumura, Evercoin users had to rely on Trezor and Ledger wallets for hardware security. Evercoin 2 will, however, facilitate a change from this approach to a more client-controlled software supporting 20 cryptocurrencies.
The Evercoin 2 Hardware Wallet Solution
The statement by Matsumura further reveals that the new wallet is not only designed for security shortcomings but volatility as well. Some of the challenges the project seeks to address include hacking, private key loss, ID theft, and price volatility.
Yubikey uses cryptography to protect Evercoin users from hackers, a common issue within crypto security. Matsumura said that this will be complemented by a non-custodial exchange service which means clients are protected from an exchange hack. In addition, the Evercoin 2 design consists of recovery and wallet backup solutions in case a user loses their private key. The firm’s CEO, Talip Ozturk, echoed similar sentiments;
“Evercoin users deserve peace of mind. We protect users from hackers with YubiKey hardware—but we also protect them from accidents when they have lost their phone, their YubiKey, or their password.”
Evercoin 2 is also set to come in handy during volatile crypto markets. The wallet’s ecosystem allows users to trade their digital assets in a few clicks within a liquid and secure network. QR codes built for authentication will eliminate typing-oriented errors, therefore, reducing the workload of capturing difficult addresses.
Finally, the Yubikey will protect users from phishing and wrench attacks. Matsumura noted that hackers will not be able to locate a client’s coins; the client can further protect themselves by making their emails secure through the unmodified Yubikey.