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SEALSQ Unveils Crypto Wallet Security Enhancement to Combat Quantum Computing Threats, Critical to the Security of any Bitcoin Wallet Containing 128 Bits of Entropy
Geneva, Switzerland, March 05, 2024 (GLOBE NEWSWIRE) -- SEALSQ Corp (Nasdaq: LAES) (“SEALSQ” or “Company”), a leader in semiconductor, PKI, and Post-Quantum
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[{"type":"text","content":"Geneva, Switzerland, March 05, 2024 (GLOBE NEWSWIRE) -- SEALSQ Corp (Nasdaq: LAES) (“SEALSQ” or “Company”), a leader in semiconductor, PKI, and Post-Quantum technology development, announced today the integration of an advanced crypto wallet feature designed to safeguard Bitcoin wallets against potential quantum computing threats. This cutting-edge feature enhances the protection of the 12-word seed phrase, which is critical to the security of any Bitcoin wallet containing 128 bits of entropy. For more information visit: https://www.sealsq.com/about/research-innovation/quantum-proof-cryptography. With the rapid advancement of technology, the crypto community has raised concerns about the future capabilities of quantum computing to decrypt these crucial seed phrases, posing a serious risk to the Bitcoin protocol. Recognizing this potential threat, SEALSQ emphasizes the importance of advancing our understanding and implementation of wallet signature security. This involves engaging in both theoretical research and practical application through the use of browser wallet security extensions. Cryptocurrency transactions are inherently secure thanks to blockchain technology, yet they remain a target for cybercriminals adept at creating schemes to extract wallet key phrases. To counter these efforts, SEALSQ has partnered with its parent company, WISeKey International Holding Ltd. (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY) to develop a proof-of-technology for a crypto wallet on the Hedera blockchain. This collaboration aims to bolster user convenience by merging Public Key Infrastructure (PKI) signatures with biometric authentication, thereby eliminating the reliance on manually managed seed phrases. The proof-of-technology initiative will investigate the integration of seed phrase generation with WISeKey's Public Key Infrastructure. By aligning seed phrase generation with users' biometric signatures, the need to memorize and manage seed phrases manually will become obsolete, significantly enhancing security and user convenience. WISeKey's Public Key Infrastructure represents a robust authentication framework that combines the strengths of biometric authentication with PKI digital signature technology, providing an unmatched level of security and ease of use.In the rapidly evolving landscape of quantum computing, SEALSQ is at the forefront o...