Satochip supports Bitcoin Cash SLP tokens through its card. This is the first hardware wallet for SLP tokens in history.
It is now possible to use BCH and its Colored Coins via a hardware wallet that looks very much like the traditional payment systems.
This is not the first experience for Satochip, which features versions of its card for BTC, LTC and BCH.
It looks like a credit card and at the hardware level it actually is; the difference is that it is not connected to a banking circuit.
The security of the chip, together with the card reader prepared for recognition, make this system a secure method to access private keys.
Note, don’t make a mistake thinking that with this product it is possible to pay through VISA or MasterCard circuits. The idea is actually to use credit card technology to secure private keys in the chip and unlock them through a PIN and physical support.
The Simple Ledger Protocol (SLP) community is grateful and awaits the arrival of the courier to physically test the product.
— Simple Ledger Protocol (@SimpleLedger) March 1, 2020
It is a completely open-source model, it makes the whole system open to community control. The code available on GitHub is free and verifiable by anyone.
This hardware wallet works natively with the SLP version of Electron Cash.
Satochip is based on a javacard contact interface and works on a specific operating system called JCOP.
Creation, derivation and signature of private keys is guaranteed through the use of a PIN code. If an incorrect PIN code is entered several times, the chip card is blocked.
Furthermore, it is possible to optionally enable 2-factor authentication (2FA) for additional security. Each transaction must be confirmed via a smartphone application before it can be authorized.