Satoshilabs, the creators of Trezor, an offline bitcoin wallet, are planning to introduce Colored Coins and smart contracts to their service. The company claims that developers who use these blockchain applications should feel free to add support for Trezor to their products.
Satoshilabs announced their new move in their corporate blog:
Trezor is an offline Bitcoin wallet developed by Satoshilabs. It looks like a USB drive with two buttons, contains pre-installed software, and connects to PCs with a USB cable.
The device costs $139. Bitcoin users on Reddit praise Trezor for its security. In 2014, a “good” hacker who stole 267 bitcoins from the blockchain and later returned them to the firm used Trezor to keep his personal digital currency secure.
Satoshilabs are claiming that Trezor is the first bitcoin wallet with the ability to use Colored Coins and Document Timestamping. Both applications are part of the “next step” in the development of the bitcoin technology.
Colored Coins is a technology that allows using blockchain symbols as substitutes for any object or sum of money and record deals in the public ledger. In 2014, the Estonian bank LHV began their own experiment with this new technology.
Document Timestamping helps users record sections of their documents in the blockchain. The Czech company is not the only player in this field: one week ago, Coinfox reported that BtStamp, an iOS application, allows users to save their documents to the blockchain. However, Bitcoin Core developers do not support this usage of the blockchain and are currently considering options to limit “spamming” in the public ledger.