Last November, we have announced support for offline transaction signing using Armory. Many people have started using that feature to secure valuable assets and funds on cold storage. We are now going even further with secure cold storage, and we excited to announce today support for TREZOR cold storage on Coinprism.
TREZOR announced three weeks ago a firmware update enabling smart property support. We are happy to be the first “Bitcoin 2.0” platform to integrate this into our product.
What does this mean?
What this all means is that you are now able to secure both Bitcoins, and colored coins assets in cold storage, and spend them easily using your TREZOR, directly from the Coinprism website. In addition, you can also store asset issuance keys on your TREZOR, and ensure re-issuance of the asset cannot be done without physical access to the TREZOR. Finally, features like dividends, voting and automated crowd sales are all compatible with TREZOR as well.
How to start using Coinprism with your TREZOR?
First, you will need to create an address that is managed by the TREZOR. Simply follow the usual steps to create an address (“Addresses & Colors” then “New Address” or “New Color”). Change the address type to “TREZOR address”.
Select one of the 20 possible slots on the Trezor. Make sure your TREZOR is connected to your computer, and press “Load from TREZOR”. If the TREZOR is correctly recognized, the public key will be loaded from the TREZOR after a few seconds. You can then confirm and create the address.
Note that the first time you use the TREZOR on Coinprism, Chrome might ask you if you want to unblock plugins. Confirm so that the TREZOR plugin can run.
The new address can be used the same way as other addresses. Once you get to the point of creating a transaction spending funds from the address, a new screen will appear, and will prompt you for the TREZOR. Make sure the TREZOR is connected and press “Sign”. The TREZOR might then require you to enter your PIN code. Like on mytrezor.com, a matrix will appear on the device display with digits in a random order. For each digit in your PIN number, click on the button at the same position as the corresponding digit on the device display, and confirm when finished.
The TREZOR will then ask you to confirm the transaction directly on the device. One thing to note at this point: the TREZOR is not fully aware about colored coins, and will only show you 0.000006 BTC going out when colored coins are transacted.
After you have fully confirmed the transaction on the TREZOR, the transaction will be signed securely on the device, and broadcast on the Bitcoin network.
You can even use Coinprism to store “vanilla” Bitcoins
Along with GreenAddress and Electrum, Coinprism is now one of the very few third party wallets capable of securing Bitcoins with the TREZOR. We are committed to providing an enterprise-ready platform for on-blockchain asset management, and this is an important step towards that goal.