HyperMate Adds Bitcoin Cash, Litecoin Multi-Sig Function Support

Vulnerability Found Popular Crypto Wallets like Ledger and Others

HyperMate, a “highly secure crypto hardware wallet,” has added Bitcoin Cash and Litecoin multi-signature functions for support. As of now, this wallet will support Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and ERC-20 tokens, though more are in development, a press release notes.

This wallet, being developed by HyperPay, is “world-renowned” and is looking to “realize multi-signature” within the cryptocurrency industry. There’s non-hardware multi-signature and hardware multi-signature. The release describes these different types of signature:

“Non-hardware multi-signature means the multi-signature is completed through network code, including the multi-signature mechanism of traditional financial institutions and multi-signature on the chain based on the blockchain system. Bitcoin and Ethereum can all realize multi-signature function. These two methods, however, have a hidden danger, that is, the security of the private key is difficult to guarantee.”

Multi-sig wallets are generally brought in through client wallets or web services, the release notes, but these rely on a centralized server which can be hacked. Multi-signature allows users to utilize a private key, but the device in which the key is being used can be hacked as well. These problems are being solved, but they aren’t solved as of yet. HyperMate wants to assist in this.

“HyperMate is used with the HyperPay App which supports both iOS and Android,” the release states. “The operation of HyperMate can be conducted in the HyperPay App by connecting the hardware wallet to a mobile phone via Bluetooth, simple and convenient, and effectively avoiding network risk exposure problems associated with multi-signature on the chain.”

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