1/8 Efforts to oppress citizens and erode individuals' rights to privacy, as we see here, are a great validator of Trezor's open-source philosophy. Since the beginning, we have designed Trezor (both in hardware and software) to be as open as possible.
2/8 Suppose a three-letter agency asked us to add a secret hardware or software backdoor to Trezor. The reply is that it's not possible because everybody would immediately see that we've added something which doesn't belong there.
3/8There are thousands of security experts watching our every move, auditing every change in the code. This acts as a perfect failsafe mechanism and no one would use the compromised version.
4/8 When it comes to extracting secrets from the device, there is no such thing as 100% secure hardware. All hardware can be hacked; it's just a matter of resources and motivation.
5/8 That's why we came up with the so-called BIP39 passphrase, which is a final layer of encryption that is not stored on the device at all. Only a user with a device and knowledge of the right passphrase can access the funds.
6/8 Even if a three-letter agency gets their hands on your device and extracts the passphrase-encrypted secret from it, they still cannot seize your coins unless you give them the corresponding passphrase.
7/8 BIP39 passphrases also grant plausible deniability: there is no such thing as an incorrect passphrase, and each passphrase will lead to a different, valid wallet. With that in mind, you can create an infinite number of decoy wallets by providing different passphrases.
We are cooking up some exciting news!
While we want to keep the sweetest perks for the surprise in the nearest future, there are few honorable updates in plans that we are thrilled to share.
Four things that are about to happen this year:
Trezor Suite Mobile app for Android:
We will put most of Trezor Suite features in your smartphone, bringing accessibility and user experience to the whole new level.
Bitcoin Full Node:
Connect to your own full node. In the first stage, we will implement Electrum API integration, and in the second stage — Bitcoin Core.