Litecoin Foundation, a non-profit dedicated to the promotion and advancement of blockchain technology has collaborated with Cobo, a leading cryptocurrency wallet to produce a crypto tablet.
The cryptocurrency tablet would provide secure seed phrases to open-source digital wallets.
This Litecoin tablet would provide secure storage for crypto passphrases, which are vulnerable to damage or theft if not properly stored.
Some notable hardware qualities of the tablet are:
- The use of 6-series aluminum in its production (the same type used on airplanes)
- Water resistant
- Acid resistant
- Corrosion resistant
It also supports 12,18 and 24 recovery phrases.
Seed/Recovery Phrase Mechanism
Open source cryptocurrency wallets like Exodus and Jaxx, use the seed phrase mechanism which is similar to the private address system used in accessing and usage of digital assets via the individual crypto wallets.
Cobo is a manufacturer of both hardware and software wallets, whose main purpose is to increase the security and feasibility of owning digital assets.
Some of their services include cold offline storage, mobile wallet, and institutional custodial services.
- Litecoin is currently the 5th largest digital currency by market cap.
- Litecoin is being traded at over 150% of its trading value at the start of the year.
- As at 3rd of May 2019, LTC was traded at 79.54 USD.
This Litecoin Foundation/Cobo collaboration will definitely increase the popularity of both brands globally.