Monero Support Coming to Keystone via Cake Wallet Partnership

  crypto-news-flash.com 6 h

• Keystone partners with Cake Wallet to integrate Monero support, redesigning firmware using Rust.
• Monero’s principles of privacy, decentralization, and open-source drive new hardware wallet integration.

Keystone Hardware Wallet announced that they have officially begun work on supporting Monero on their Keystone devices, in partnership with Cake Wallet, a popular open-source software wallet for Monero users.

This collaboration seeks to improve security and the user experience for Monero enthusiasts by incorporating Monero’s distinct features into Keystone’s hardware wallet.

1/ Attention @monero community 📢

It is official! Today, we have started working on supporting Monero on our Keystone with our partner @cakewallet, a leading open-source software wallet for Monero users.

Here’s what you need to know about this integration #buildinpublic👇 https://t.co/aB2wiEtylP

— Keystone Hardware Wallet (@KeystoneWallet) July 30, 2024

Keystone Redesigns Firmware with Rust to Integrate Monero’s Advanced Features

Keystone’s development team is working on a huge project: rewriting the firmware from scratch using the Rust programming language. This redesign will incorporate Monero’s characteristic seed phrase and ring signature technique.

The ring signature technique is critical for preserving transaction secrecy and unlinkability, which are fundamental pillars of Monero’s philosophy.

Once the firmware redesign is complete, the next step will be to adapt Cake Wallet to ensure Keystone compatibility. This connection ensures that Monero users have a simple and secure experience.

The ideals described in “A Cypherpunk’s Manifesto,” penned 31 years ago, are relevant today and have had a significant impact on Monero.

Monero embodies the manifesto’s values, which include anonymity, decentralization, open-sourcing, and community-driven projects. These ideas resonate with the Monero community, highlighting the value of privacy and security in the digital age.

This latest development has increased interest in Monero (XMR). The token has emerged as a top gainer today, demonstrating bullish behavior in an otherwise bearish market.

At the time of writing, XMR is trading at $160.89, up 1.36% over the last 24 hours, with a daily trading volume of $124.74 million. This indicates a significant increase of more than 15%, demonstrating the market’s enthusiastic reaction to recent developments.

Looking back, there have been several notable events that have had an impact on the Monero ecosystem. CNF previously reported a decrease in Monero mining hashrate, which fell from 2.9 gigahash on May 29 to 1.78 gigahash on May 31.

This reduction corresponded with the launch of “Operation Endgame,” Europol’s largest anti-botnet operation to date. According to Europol, Monero assisted these unlawful activities due to its resistance to ASIC and GPU mining, making it ideal for cryptojacking.

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