So OPOLO is using dedicated Secure Element to store the private keys, could you tell us more about this?
The secure element is designed to keep a secret and it’s almost impossible to break the security around them. For example our passports, our credit or debit cards issued by the banks have a secure element to protect their keys. In OPOLO, The Secure Element is keeping the seed of the wallet, the 24 words mnemonics.
Some hardware wallets have no secure element, which makes those wallets very vulnerable to physical attacks, hence the user can lose their funds if someone got access to those wallets. Some hardware wallets are relying on EAL5+ secure element, however, we wanted to provide state of the art in terms of security components. OPOLO Cosmos is designed around EAL6+ secure element. EAL means Evaluation Assurance Level which is based on Common Criteria: this identifies the level of tests that have been done on the component: 6+ is the best certification at this moment for a Secure Element.
You also want to make it possible for users to exchange their crypto assets from the hardware wallet and directly to the exchanges so they can do trade on any exchange of their choice. How will you make this possible?
OPOLO Cosmos comes with a desktop application called OPOLO Desk, which is interacting with the hardware wallet, it can bring an overview of all the coins and tokens which are stored on it. OPOLO Desk can do more than a visualization, because it offers the capability to exchange coin by another coin. In fact, OPOLO Desk has integrated APIs from the most famous coin swap platforms that enable the user to swap coins instantly without leaving the application.
In an example, if the user has Bitcoin, and wants Ethereum instead of it, he only has to go to the EXCHANGE menu on OPOLO Desk, choose initial and requested COINS, and the transaction will be executed. Easy and quick process.
I know that OPOLO Hardware Wallet has a lot of focus on user experience right? How do…