Tangem Wallet Secures US Patent for Private Key Transfer Technology

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Tangem Wallet Secures US Patent for Private Key Transfer Technology

Tangem Wallet

Tangem secures a U.S. patent for its innovative self-custody technology. This breakthrough aims to enhance security, usability, and trustless transfers, ensuring crypto holders can back up and move their private keys between devices without compromising safety.

The United States Patent and Trademark Office (USPTO) officially granted the patent on January 28, 2025, marking a significant milestone in the evolution of self-custodial crypto wallets.

Tangem’s Private Key Transfer Patent: A Self-Custody Revolution

Self-custodial wallets are the backbone of true cryptocurrency ownership, giving users full control over their assets. However, managing private keys remains a critical challenge. Losing a private key means losing access to funds, while third-party storage increases security risks.

 

An excerpt from Tangem’s USPTO patent issued on Jan. 28, 2025. Source: USPTO
An excerpt from Tangem’s USPTO patent issued on Jan. 28, 2025. Source: USPTO

Tangem’s patent, titled Systems and Methods for Transferring Secret Data via an Untrusted Intermediary Device, offers a cutting-edge approach to solving these challenges. The technology facilitates Private Key Transfer through a trustless system, ensuring encryption and seamless usability.

Why Private Key Transfer Is Critical for Mass Adoption

According to Andrey Lazutkin, Tangem’s Chief Technology Officer, the biggest barrier to crypto mass adoption is the complexity and risk of managing private keys.

Users shouldn’t have to worry about storing a 24-word seed phrase securely. Our patent enables a secure, seamless private key backup and transfer process without trusting a third party, Lazutkin told Cointelegraph.

The innovation allows Tangem’s hardware wallets to transfer private keys to trusted devices like another Tangem card or ring without exposing sensitive data to hackers, malware, or compromised smartphones.

Unlike traditional methods that require users to manually store seed phrases, Tangem’s patented tech employs end-to-end encryption, trustless intermediary transfer, and tamper-proof authentication to streamline the process.

An excerpt from Tangem’s USPTO patent issued on Jan. 28, 2025. Source: USPTO
An excerpt from Tangem’s USPTO patent issued on Jan. 28, 2025. Source: USPTO

Tangem’s approach simplifies self-custody without requiring users to interact directly with private keys, making it an ideal solution for mass adoption.

Despite its innovative approach, Private Key Transfer technology isn’t free from skepticism. Many in the Bitcoin and crypto communities follow the mantra Not your keys, not your coins, urging users to avoid any solution that abstracts private key management.

In late 2024, Tangem faced security scrutiny after a mobile app bug accidentally exposed private keys for certain users via email. Although the company swiftly patched the vulnerability, critics remain cautious.

No system is perfect, but Tangem’s encryption and trustless intermediary design are steps in the right direction,” said Nick Neuman, CEO of Casa Wallet. Self-custody should be simple without compromising security.

Will Private Key Transfer Define the Future of Crypto Security?

With the rise of regulatory pressures and increasing attacks on centralized exchanges, more users are shifting to self-custody solutions. Private Key Transfer innovations like Tangem’s patented tech could pave the way for safer, user-friendly crypto storage.

Industry experts believe automated, encrypted backups will become the norm for non-custodial wallets. If executed properly, this could bridge the gap between security and usability, noted Andreas Antonopoulos, a leading Bitcoin educator. It’s about giving users control without the fear of making irreversible mistakes.

Tangem’s Private Key Transfer patent represents a major step toward secure, accessible self-custody. By eliminating manual seed phrase storage and enabling encrypted transfers via untrusted intermediaries, this technology could redefine how users manage crypto assets.

As the industry continues to balance security and ease of use, Private Key Transfer solutions like Tangem’s will likely shape the future of crypto adoption. The key question remains, will users trust this innovation, or will they stick to traditional self-custody methods?

Private Key Transfer is now a game-changing topic in the crypto security debate. Get more from The Bit Gazette

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