In the world of crypto, the safety of your funds is determined by the security of your secret key storage. People are always searching for trustworthy wallet solutions and thinking of how to store their private keys.
In this post we want to talk about one of the most efficient solutions to protect your account on the Stellar network — multisignature. If you heard about it, you know that enabling multisig significantly increases the security of your account and protects your wallet from in-person attacks as long as all secret keys are stored separately.
To make multisig setup easy and intuitive we’ve released LOBSTR Vault mobile app in March 2019 and nowadays Vault became a leading solution for multisignature protection. Vault app creates a locally stored signer key that provides an additional layer of protection for the main Stellar wallet and is used to confirm pending transactions on-device. Suited for pros and novices alike, LOBSTR Vault fully integrates with LOBSTR wallet and can be used to increase the security level of the Stellar account.
LOBSTR team is always looking for ways to take the security and accessibility aspects of our products even further. That’s why when we’ve learned about new chip-to-chain technology, we thought that it perfectly fits our vision of advanced protection combined with streamlined authentication for blockchain-based products.
LOBSTR partners with Tangem
Today we are thrilled to announce our partnership with Tangem, a company that bridges existing use cases for blockchain with practical, tangible products, unlocking inclusive accessibility and bringing blockchain assets to the mainstream.
Together with Tangem we have produced a brand new solution for your multisig configuration — Vault Signer Card.
Built using Tangem’s innovative technology, Vault Signer Card represents a new smart way to improve the security of your Stellar account. Fully integrated with LOBSTR Vault, this stylish card brings the power of Tangem’s technology to the multisignature layer of the Stellar network.
How does it work?
Signer Card is a physical device that is designed to be used as an additional signer for your main Stellar account.
The highly-secure chip embedded into the Signer Card creates and holds a unique and uncopyable Vault signer account within the card itself, making it the most secure way to protect your crypto.
The new 2.0.0 version of LOBSTR Vault fully supports Signer Cards and is live now on Google Play and App Store. LOBSTR Vault connects the Signer Card to your smartphone using the near-field communication technology (NFC) and allows users to create the signer account on the chip.
The signer account is created once for each individual Signer Card as a part of the Vault onboarding, never leaves the chip, and is never sent to any servers. It is impossible to clone the signer key, even for the manufacturer of the card, as audited by Kudelski Security (JP Aumasson)
The video below describes how to access the Vault account with Signer Card:
LOBSTR Vault works with your favorite Stellar wallets and so is the Signer Card. Add the Signer Card as a signer for your existing Stellar account in LOBSTR, StellarTerm, or Stellarport, choose any pending transaction in the Vault app, and simply hold the card beneath your smartphone to sign this transaction.
The transaction signing happens on the card itself — the keys are always safe and never exposed to third parties. Once the transaction is signed, it will be sent to the Stellar network or to Vault accounts of other signers in case additional signatures are required.
How to confirm transactions with Signer Card:
Users can add the card as the co-signer in 2-of-2 multisig, use it as a backup signer in 2-of-3 multisig or configure a sophisticated n-of-m multisig setup using multiple Signer Cards. Vault app can protect several Stellar accounts, which means that a single Signer Card can be a signer for multiple accounts as well. In other words, you can craft your own multi-sig architecture: one card per multiple wallets, many cards per one wallet, or both!
With even more exciting updates to LOBSTR Vault on the horizon, there was never a better time to invest into the security of your digital assets with multisig protection.
Visit the Signer Card page for more details.
Interested in taking the security up a notch? Buy the Signer Card.