Cryptocurrency

“Trezor is coming to Monero Soon”- Trezor’s CTO

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The Reddit community is buzzing with excitement with the latest post by the CTO of Trezor. The hardware wallet (Trezor) offers strong protection for Bitcoin and other crypto private keys in an enhanced way, in comparison to the regular cold wallet storage system. It allows safe payments while simultaneously keeping the private keys under protection. This prevents the private keys from getting exposed even when the electronic device used for the payment gets hacked.

When the announcement was made on Twitter and Reddit, the post soon was followed up by the excited users, and the comments section got flooded with curious questions. For instance, a user with the profile name- ‘dogsdaybase’ asked-

“When we compare them (GUI + trezor) with original GUI (local node) which wallet is more secure?” To which the CTO of Trezor replied- “It depends what you want. If your house burns down and you had no cloud backups of your GUI wallet, then the Trezor is better. If you have an airgapped OS where you generated a PGP key with a 200-word password that you remember, then encrypted your mnemonic and sent it to all your family and friends, then the GUI with a local node is better.”

Another user called- ‘1blockologist’ asked- “Can we have unit tests that show every kind of Monero transaction being accomplished correctly, help avoid that change address issue and things like it. Assuming said tests don’t already exist.” To this, the CTO of Trezor replied- “We do extensively test our code. See the following test directories for the test with “monero” in the filename,” while providing two GitHub links.

Further, there were questions about ‘unit tests’ for instance ‘system tests on a test net coin, Integration testing’ One of the users asked-

“I hope you do more than just unit tests, e.g., system tests on a test net coin. Integration testing with hw…Unit tests are rarely enough to catch all bugs. I want Trezor to be the hw that focus on quality instead of the ledger which seems more interested in supporting as many coins as possible…” For this user got this reply from the CTO- “If you have any ideas on how to contribute with testing you are welcome to send it our way. Also, the whole source code is open source; you can build it now and start testing.”

We can only list a few burning discussions. You can further follow the Reddit community to get the latest update in the situation.

More on Monero-

Recently Binance announced the addition of two new Monero trading pairs. They are- XMR/BNB and XMR/USDT. The hard fork is expected to produce some changes to the block size algorithm. This should as expected to fight the spam-bloating attack the big bang attack. This will ensure a proper short run and long run scaling in the future. Here is an excerpt from the Monero’s blog-

“Note that there technically will be two hard forks (i.e., one on approximately the 9th of March and one on the approximately the 10th of March). This provides a grace period on the network where transactions in the transaction pool that still use the v1 transaction format are allowed to be included in a block by miners.”

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.
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