A few days ago, HyperMate wallet added BCH and LTC hardware multi-signature functions. For now, its supported hardware multi-signature currencies include BTC, ETH, BCH, LTC, HC and ERC20, and more currencies multi-signature are being developed. HyperMate is a hardware wallet developed by the world-renowned multi-ecological digital wallet HyperPay.
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There are two main ways to realize multi-signature in the industry: non-hardware multi-signature and hardware multi-signature. Non-hardware multi-signature means the multi-signature is completed through network code, including the multi-signature mechanism of traditional financial institutions and multi-signature on the chain based on the blockchain system. Bitcoin and Ethereum can all realize multi-signature function. These two methods, however, have a hidden danger, that is, the security of the private key is difficult to guarantee.
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Multi-signature of traditional financial institutions is generally implemented through client wallets or Web services, and both client wallets and Web services need to rely on a centralized server. Once the server is hacked or the server owner is not reliable, multi-signature is meaningless, and asset protection becomes impossible.
Multi-signature on the chain requires the user to personally use the private key to complete the signing process, but if the user’s mobile phone or computer is hacked, the private key can be completely exposed, and the protection of multiple signatures just no longer exist.
Yet, the emergency of hardware multi-signature has solved the security problem very well. Hardware multi-signature, as the name implies, is to complete the private key signature operation on a separate hardware wallet. The hardware wallet is connected to the mobile phone/computer via Bluetooth or NFC, and then the signature result is broadcasted to the relevant users through the network. Compared with non-hardware multi-signature, there are two main advantages of hardware multi-signature.
