Utimaco Partnership With Thothtrust Can Give Protection Of Cryptocurrencies Kept In Digital Wallets

Utimaco – manufacturer of Hardware Security Module (HSM) technology  which has been protecting people around the world against terrorism and organized crime and have secured private and sensitive data against theft or abuse started partnership with ThothTrust Security Organization in Singapore to protect cryptocurrencies which are kept in digital wallets with Utimaco HSMs and the CryptoScript Software Development Kit (SDK).

As it is mentioned in the announcement the Customisable Secure Cryptography (CSC) product suggests various security levels and personalization and identification options to make a secure environment whereas a Wallet Security Module (WSM) guarantees the security of cryptocurrency funds through Utimaco HSM.

The Utimaco HSM which is fitted with the WSM module generates protects digital wallets, able to store up to 255 pieces of 256-bit ECDSA key pairs for cryptocurrency and token transactions including Bitcoin, Ethereum and many other tokens like Bitcoin.

Verification to the WSM-supported wallets bases on public key challenge-response using ECDSA signatures via an ECC key pair established by the target device and protected using the  secure keystore of the target device.

As a rule the keystore requires a password or biometric verification from the client to access the device key pair for allowing the customer’s queried actions like creating digital signatures for cryptocurrency transactions or operating with the wallet.