Trezor, an upcoming bitcoin hardware manufacturer know for its secure hardware wallet, officially introduced support for Ethereum by integrating MyEtherWallet into TREZOR hardware infrastructure.
MyEtherWallet is an opens source and clients side Ether wallet which allows Ethereum users to store the digital currency within a secure and non-custodial platform. The platform operates like similarly to bitcoin wallets like Xapo, Mycelium, etc
MyEtherWallet doesn’t have any control and authority over user accounts, private keys and passwords, providing maximum privacy and security to its users.
Ethereum has become a highly demanded blockchain network since it’s launch on 30 July 2015. The network has grown, specifically within highly funded blockchain consortia and financial institutions utilizing the Ethereum network to develop smart contract-based platforms applicable in the financial industry and market.
In this short period of time, the market cap of Ethereum grew exponentially to over US$1 billion. Its spin-off chain Ethereum Classic which was created after the execution of a hard fork designed to protect funds of DAO investors is worth over $120 million dollars, which puts the entire Ethereum network at a valuation of $1.12 billion.
So with this growth spun by Ethereum influenced the decision to implement Ethereum wallet on Trezor hardware wallet.
“Ethereum is currently the cryptocurrency with the second highest market cap and second highest trade volume. We have long recognized the potential of ETH and implemented support for the coin with TREZOR firmware update 1.4.0. Facing limited resources, we are happy we can cooperate with MyEtherWallet to provide an easy and intuitive interface for you, when interacting with ethers.”
This statement was attributed to the Trezor development team. Trezor is an advanced PIN secured hardware wallet, once Trezor initializes and synchronizes with MyEtherWallet, users can utilize the hardware wallet to send and receive Ether.