Cryptocurrency hardware wallet KeepKey announced in a press release sent to CoinReport an integration with the Ethereum network’s own cryptocurrency, ether (also commonly called by the network’s name – Ethereum), due to increasing community demand.
The Ethereum network is a decentralized platform that runs smart contracts or applications that run exactly as programmed i.e. minus any risk of fraud, downtime, third party interference or censorship. Examples of what can be built on the Ethereum network include a tradeable token with a fixed supply, a central bank that can issue money and a puzzle-based cryptocurrency.
The network’s own cryptocurrency, ether/Ethereum, is the second most valuable digital asset, currently holding a total market capitalization of over US$850 million. Ether’s daily trading volumes are increasing and recent hard forks have ironed out several DDoS issues
KeepKey CEO Darin Stanchfield said in the press release, “Of all the assets we get asked to support on KeepKey, Ethereum is by far the most requested. It’s a massive project with a huge following and we are thrilled to release our public beta on Friday. The KeepKey and KeepKey Chrome Extension will be the first hardware wallet and application that supports Bitcoin, Litecoin, Dogecoin and Ethereum in one single user interface.”
Ethereum network co-founder Vitalik Buterin said, “User account security is one of the most important problems that must be dealt with for blockchain technology to achieve mass consumer adoption, and we highly welcome efforts like KeepKey that aim to solve this challenge.”
With the ether support, users will be able to manage several ether accounts with various addresses, effortlessly swap between tokens through the ShapeShift functionality, and keep full recovery capability by the single KeepKey recovery sentence.
ShapeShift CEO Erik Vorhees said on the occasion, “Ethereum and Bitcoin on one hardware device provides immense value to the digital asset ecosystem. Companies like KeepKey have done more to advance individual financial security than banks have done in the past hundred years.”
Stanchfield added, “With the rise of cryptocurrency came the rise of the hacker and the digital thief. Ethereum users face the same security hurdles Bitcoin users face: it is very difficult to secure private keys and the stakes are often high. Using KeepKey makes Ethereum security simple: you can feel safe transacting without worrying if your computer you’re using has been compromised.”
Images courtesy of KeepKey via PR firm Wachsman PR