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Cybtc Review: LUBANSO X1 Cryptocurrency Hardware Wallet

2018-12-20 10:11 | qqqpeter

Roundup:1. Foreword:What is a Bitcoin wallet?To receive, store or use Bitcoin, you must have a Bitcoin wallet.But your Bitcoin cannot protect by the wallet, but a private key. The private key gives you permis ...

I. Foreword:

What is a Bitcoin wallet?

To receive, store or use Bitcoin, you must have a Bitcoin wallet. 

But your Bitcoin cannot protect by the wallet, but a private key. The private key gives you permission to manage Bitcoin. You can receive, store or use Bitcoin by setting a password.

The core function of the wallet is to create, store and use private keys.

II. Background:

LUBANSO is one of the top blockchain security R&D and production enterprises in China. It is the first batch of practitioners in the domestic blockchain industry, F2Pool project member, co-founder of “Guochi”, a core member of BTC China, and CEO of Yimai Network Mr. is working hard to build. The company is mainly engaged in the safe development and application of blockchain technology, with the core concept of safeguarding user asset security, and is committed to developing more professional technologies to solve the problems of user management of various digital currency inconveniences and cumbersome processes, and to provide strong support for the digital currency field.

Large infrastructure to create a safer and more convenient digital currency application ecosystem, enriching the application of blockchain technology and digital currency.

We recently received a LUBANSO X1 digital currency hardware wallet. Through the use and disassembly, the detailed understanding of the wallet's various functional parameters, the following is a detailed review of the wallet.

• Wallet specification:

Brand: LUBANSO
Model: X1 Digital Currency Hardware Wallet
Screen: OLED 0.96 (128*64) inches
Interface: MicroUSB
Chip: Z32HM
Size: 62*28*7mm
Net weight: 36g
Material: dark black alloy
Support standards: BIP44, BIP49, BIP84, BIP39
Support platform: Windows.Mac OS (mobile app in development)


• Product Features:

Unique trusted operating system LBTOS
Financial security chip
Client + Hardware Wallet Multi-Certification
Support Chinese and English mnemonics
Multi-currency support

III. Product appearance:

The wallet is packaged in black gift box blister.


The wallet is equipped with a 0.96-inch OLED display with tempered screen protection.


The overall design of the wallet is very simple, the appearance looks like a U disk, with a dark black alloy seamlessly packaged, the back is the manufacturer LOGO.


The product is small and exquisite and feels very comfortable. Appearance size: 62*28*7mm, weight 36g, stylish and beautiful design.


At the top of the screen, there are two physical buttons, which are easy to operate. The left and right buttons correspond to the page-turning button, and the two buttons are pressed to determine the button. The operation of the wallet menu can be done through these two buttons.


By comparing with iPhone, you can see the ingenuity of the wallet very intuitively.


▸ Packing list

• LUBANSO X1;
• A user guide;
• Three mnemonic cards;
• A warranty certificate;
• USB data cable with LUBANSO brand logo.

▸ Support currency

The back of the box shows the types of digital currencies currently supported: BTC, BCH, ETH, LTC, BCD. Support for EOS and ETH Token is under development and will support USDT, DASH, ETC, ADA, XMR, XLM, and other currencies in the future.


▸ Internal dismantling

LUBANSO X1 digital currency hardware wallet uses Z32HM independent security chip certified by UnionPay chip, offline storage private key, hardware core level PIN code protection, receiving address verification, wallet lost and stolen, etc.


A unique trusted operating system LBTOS achieves a seamless isolation security experience through a layered architecture, using a multi-layer hardware firewall technology and a hardcore security algorithm engine to achieve real-time active defense.


The client+hardware wallet multi-authentication mechanism ensures the security of the user's wallet, thus eliminating the risk of third-party firmware.


The user's core data signature and authentication operations, the certified firmware ensures that the data is not tampered with by third-party attackers, and the core key and data details are not available for any type of attack.


IV. User Experience:

LUBANSO X1 belongs to the cold wallet and its own networked device without a battery. Therefore, the private key needs to be used and managed by the client. The current version of the LUBANSO client is v1.0.4, which can be installed and used on both Windows and iOS devices. OS 10.11+ and Windows 7+, 64-bit operating system.
  

• Wallet settings

Double-click automatic installation after the download is complete, and automatically open after the installation is complete.


After the client is opened, connect the wallet to the computer with USB, and the client will automatically check for updates and prompts.


View the wallet will have a firmware upgrade prompt, select "✓" on the wallet to confirm the prompt "disconnect the computer first and then press any button while plugging in the computer", follow the prompts, the wallet will automatically update the firmware, and then pull out Plug in the wallet to complete the upgrade.


The computer client will also display a prompt to complete the upgrade.


After plugging in the computer, the basic information will be displayed on the wallet, prompting the user to set the initial wallet.


Users can create or restore wallets. When creating a new wallet, you need to set a 6-digit PIN code. Use the left and right buttons to select the number. Press both buttons to confirm.


After setting the PIN code, each time you connect the computer to boot, send the transaction address and quantity, etc., you need to use the PIN code to verify. After entering the error 5 times, the wallet will clear all the information.


Next, set the mnemonic, you can choose 12 or 24 Chinese or English as the wallet mnemonic. After selecting the language, the system will automatically generate it. (Important note: you need to back up the mnemonic to a safe place, who has mastered the mnemonic The word wallet belongs to who)) After backing up the mnemonic, the wallet will ask for some mnemonics to confirm that you have backed up the wallet. After the verification is completed, the wallet can generate the account.


After the account is generated, the computer client will display the homepage information. For the first time, you need to install the digital currency application on the wallet first. Select the currency such as BTC, click the blue circle button to download the application installation.


The wallet will prompt: whether to install a new application, confirm the installation of each currency application into the wallet, the wallet settings are completed after the application is installed.


• Wallet settings menu, which can be set in the wallet:

Display language: Chinese, English
Exchange rate: CNY, USD
Default fee can be set: low, standard, high
Modify PIN
View firmware version
Reset device


• Client page introduction

First, open the computer client, enter the PIN code, after the currency is selected, the client enters the home page and automatically synchronizes the account.


The client interface is simple and friendly. The function modules display the sending, receiving and query functions in an intuitive way. You can view the account balance and transaction details, and manage multi-currency applications efficiently. The Chinese trading operation is simple and easy to use, and one-stop solution for sending, receiving and querying. , click to download any supported apps, and easily uninstall currency apps. The biggest highlight is that the product also has a display of the currency, which can display the full value in the current account.

• Receive and send digital currency experiences

Receive: Select the computer client to receive. After selecting the account, the page will prompt you to confirm the address information to the wallet.


Select "Show address on device", and the received address will be displayed on the wallet and the address information will be confirmed.


Check the page and wallet address to confirm, and send the address to the other party.


Send: Click the client send button, the send menu will pop up.


Fill in the number of sending, receiving address, sending account, handling fee, and other information and click OK to send.


After the construction transaction is completed, the page prompts to confirm the transaction information on the wallet.


View the information displayed by the wallet, including the recipient's wallet address, number of transmissions, handling fee, etc. After the confirmation is completed, the wallet will sign the transaction, and the transaction will be completed after the signature is completed.



If there is a problem, if the sending fails, it will prompt “Transaction not broadcasted”. At this time, check the entered information or contact the manufacturer to find out where the problem is.


V. Summary:

• Security aspects

For hardware wallets, security is always the core indicator.

› The LUBANSO X1 digital currency hardware wallet uses a separate security chip to store the private key offline, and the internal data remains static, ensuring the security of the private key offline.

› Hardware core level PIN protection, wallet boot and send require PIN code verification, even if the wallet is lost or stolen, etc., it can not steal account information assets and strengthen security protection.

› Support 12-24 Chinese and English mnemonic backup and recovery, wallet accidents can also be restored on devices that support the relevant standard specifications.

The above three security measures have protected the digital assets of customers in the suburbs and avoided asset losses in the event of an accident.

• Product advantages

› Wallet is small and easy to carry and store.

› Client operations are simple and easy to use, reducing the barriers to new users.

› Scalable architecture, support for multi-currency and downloadable value-added applications, eliminating the need to purchase new wallets when new currencies appear in the market.

› The mobile phone adapter app will be supported soon, which can be used away from the computer, which increases convenience.

• Small details that can improve the experience:

› Send address bar cannot be right-clicked.

› Client-wallet app The install and uninstall icons are a bit small and have no text tips.

I believe that the latter manufacturers will make corresponding adjustments.

Cybtc Review summary: LUBANSO X1 is exquisite and compact, easy to use, client + hardware wallet multiple certification strengthens the security of the wallet.

★ Hardware wallet purchase notes ★

• Hardware wallets should only be purchased from the manufacturer or authorized reseller to avoid buying tampered hardware wallets.

• Verify that your LUBANSO X1 is not pre-set with a PIN code. Under normal circumstances, when X1 is used for the first time, the LUBANSO logo will be displayed on the device. Press any key to enter the language selection interface. After selecting, the PIN code is set. This step ensures that you get a secure device.

• LUBANSO will not provide you with the PIN of your device in any way. Please use your own PIN.

If you receive a PIN from someone else or if the device requires a PIN that is not set by you, then using this device is not secure and you can contact LUBANSO Technical Support for assistance.

 LUBANSO X1 is available at: https://www.cybtc.com/product-99.html

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