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Diego La Comba BTC Hardware Wallet

Latest release: ?? ( 7th May 2022 ) 🔍 Last analysed 23rd May 2022 . Do-It-Yourself Project
8th June 2021

This project is not meant for non-technical end users.

As part of our Methodology, we ask:

Is the product meant to be ready for use "out of the box"?

If the answer is "no", we mark it as "Do-It-Yourself Project".

Many hardware wallet projects aim to be as transparent as possible by using only off-the-shelf hardware with an open design and open code. If the product reviewed is not available in an assembled form - if the user has to source his own hardware to then maybe solder and compile software to install on the device it falls into this category.

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Try out searching for "lost bitcoins", "stole my money" or "scammers" together with the wallet's name, even if you think the wallet is generally trustworthy. For all the bigger wallets you will find accusations. Make sure you understand why they were made and if you are comfortable with the provider's reaction.

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The Analysis 

Background

Diego Lacomba Fañanas’ ongoing project centers on an offline hardware wallet based on an ESP32.

The information provided has been translated from Spanish using Google Translate:

The proposed project to be carried out consists of the design and development of a cold Bitcoin wallet, it is in other words, a hardware device that securely manages the private keys of your Bitcoin. To do this, it must be able to obtain a sufficiently random entropy to generate and derive the user keys safely and efficiently. These keys will be used to obtain the addresses associated and display them to the user.

To use the device, external software such as Bitcoin-Core is necessary, to which we will pass the derived master public key. Through external software we will receive and send Bitcoin, having only the master public key, by its own means can only manage the receipts that they make to the user, while to make shipments, as necessary sign the transactions and for this the private keys are used, our device is essential. In this way we have complete control of our Bitcoin without having to share the private keys with no one.

Product Description

Translated from Diego La Comba’s GitHub Repository:

Functions

The main function of the device is to securely store the private keys of the user’s BTC. The device must be able to generate both the recovery seed and the private and public keys. In addition to employing a recovery seed for device restoration. (Briefly explain generation and encryption mechanisms).

It must also be recognized by an online platform, such as Electrum, to make the transfers, from our device that stores the keys in an offline environment, to the hot wallet ( Electrum ) that stores the keys in an online environment ( server ) or vice versa. To operate with Electrum it is necessary to register on the platform, as with any other. The decision of the online platform to make the transfers is subject to change.

As explained above, it must also be able to store the recovery seed on an SD card, as many copies as the user wishes can be made, this seed is stored encrypted. To carry out a BTC transaction, the public key is sent to the issuer (the latter cannot obtain your private key from it), this public key acts as the sending address. The transaction must be carried out through the BTC blockchain network and thus be registered. In the same way a shipment is made, in this case the user needs the receiver’s public key

Analysis

The complete report can be found here. This is an ongoing do-it-yourself project.

(dg)