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A Montreal-based tech company has just announced a "cutting-edge" new hardware wallet designed for the cryptocurrency industry that it says will offer "a low footprint and competitive cost."
In a press release, Quantum eMotion says its "cutting-edge solution offers a low footprint and competitive cost, incorporating Quantum Random Number Generation (QRNG) and intelligent key generation scheme selection technologies to improve the efficiency and cost-effectiveness of hierarchical deterministic (HD) wallets."
Traditional HD wallets require separate hardware devices for generating parent (master) and child keys.
However, the innovative approach developed by Quantum eMotion reuses the same hardware components for both tasks, significantly reducing costs, circuit complexity, and footprint.
This method of resetting and reusing hardware devices allows for efficient and repeated key generation.
"Additionally, the master private key can be regenerated by resetting the memory systems and using a new quantum random number, ensuring high robust security," the press release states.
The company has also filed for a patent, and CEO Francis Bellido says the wallet "will set a new standard for secure cryptocurrency storage and management, becoming indispensable for anyone looking to protect their digital assets with the highest level of security."
Fortune reports the hardware wallet market was valued at $284.9 million in 2023 and is expected to grow
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