The decentralization of the Internet and blockchain technology bring many benefits to everyday life and the economy. New Web 3.0 solutions and devices based on blockchain technology and token-based applications simplify crypto transactions. However, along with the many benefits, new applications such as crypto wallets also bring risks as new threats and attack methods emerge, including cryptojacking and endpoint attacks. Most of the attacks aim to leak the user’s credential, which is the essential key to perform transactions. With SECORA™ Blockchain, Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY) provides developers with a reliable security solution that can be used to implement secured transactions, for example enabling easy and secured Web 3.0 payment transactions for everyone.
Infineon supports cold wallet projects
Function X is a layer 1 blockchain network built for exchanging cryptocurrencies and other digital assets in a secured, scalable and decentralized manner. Its team is working to bring the benefits of Web 3.0 into everyday life. To support Web 3.0 development Function X has launched p(x)Card, an innovative easy-to-use cold wallet card. With this card, users can store the private key securely inside the card offline serving as a key card for day-to-day transactions.
To increase the security of the p(x)Card, it relies on the SECORA Blockchain solution. “We are thrilled to have Infineon on board for the p(x)Card project,” said David Ben Kay, President of Function X Foundation. “The team has extensive experience in developing robust security solutions and brings a high level of expertise that is critical as we move into the new era of Web 3.0. These contributions will give our users the confidence they need to break new ground. We look forward to working with Infineon to push the boundaries of what is possible.”
“We are pleased to provide a security solution that simplifies Web 3.0 payments,” said Maurizio Skerlj, Head of Identity Solutions at Infineon’s Connected Secure Systems Division. “For example, to make a crypto payment transaction, p(x)Card users simply open the p(x)Card app and enter the recipient’s wallet address or they can use NFC supported blockchain-based point of sales devices. Once the p(x)Card is swiped, the transaction is complete. The entire process is backed by hardware security, namely the SECORA blockchain.”
About SECORA Blockchain
SECORA Blockchain can encrypt data and sign transaction with a private key. The device features an integrated chip that can establish a direct and simple connection to the corresponding blockchain entry with an NFC-enabled mobile device. Unlike other solutions on the market, the signature key which is the most important user credential, is not generated on the mobile device, but is securely stored in the cryptochip. This hardware is Common Criteria EAL6+ certified and designed to safeguard user credential against physical attacks. This further enhances the security of the application.
SECORA Blockchain combines a tiny crypto chip with a radio antenna in a flat package with a total thickness of maximum 300 µm. It can be attached almost invisibly behind a label or on the product itself, making it easy to integrate. In addition, standard card form factor packages are also available. As a hardware-based solution, SECORA Blockchain has a decisive advantage over other blockchain access options: It is protected against both hardware- and software-based attacks.
More information about Infineon’s SECORA Blockchain security solutions is available here.