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TREZOR Firmware Update: Multisig Ready, Show on TREZOR, Simplified Setup

Posted by SatoshiLabs in News on January 13, 2015 with Comments Off on TREZOR Firmware Update: Multisig Ready, Show on TREZOR, Simplified Setup

Trezor-Multipack-300x300SatoshiLabs has released a new TREZOR Firmware today. When visiting, users will be offered to update their firmware.

This update brings several enhancements to the security and usability of the wallet and makes TREZOR ready for multisig.

TREZOR Multisig

Multisig or “multisignature transactions” are especially useful for managing shared funds or using escrow services. Today, several bitcoin wallets are using multisig as a multi-factor authentication simply by combining different means of transaction validation. This is the case of that allows transaction signing by TREZOR with for example email or SMS validation.

The multisig feature is not visible to myTREZOR users, however delivered a beta quality integration already. We will bring a full “How-to TREZOR with Greenaddress” after their developers fine-tune the user experience. Several other wallets are now starting TREZOR Multisig integration as well.

Keep an Eye on Your Addresses with “Show on TREZOR”

When requesting a new receiving address, users can verify that the address shown in the browser is indeed correct and generated by TREZOR. If the shown address is not identical with the one you see on the display, you have probably avoided a phishing attempt. In such case, unplug your TREZOR and contact our support.

With “Show on TREZOR” we are limiting the risk of phishing for bitcoins receiving, but we’d like to remind our users to stay alert when sending bitcoins. Phishing remains a risk across all browsers and wallets until the Bitcoin world widely adopts the Payment protocol (bitcoin addresses replaced by human readable labels).

myTrezor_new_setup_sTREZOR Setup Simplified

In order to provide the most smooth and secure experience possible, we have shortened the initial setup process.

24-words is now the only option for creating the recovery seed (paper backup) and using PIN protection is now required by default.

The setup page only asks the user to set the Device Label and optionally enable the passphrase protection.

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