Trezor is a device that has a single, key function. It allows for the secure transaction of numerous different cryptocurrencies. It is claimed that even when a cryptocurrency transaction is carried out on a compromised device if Trezor is used during the transfer, your cryptocurrency assets and information, will still be secure from attackers.
The protocol for transfer on the Trezor device works by sending signed confirmations of payment, over the internet. These messages sent from Trezor have simply termed ‘transactions’. In to order to add a signature to confirm payment, a special key or password, unique to the individual Trezor user must be used, only Trezor holds these keys.
This has led to Trezor being labeled by some, as a “digital stamp”.
Each Trezor device has an individual PIN code, that must be entered to use the device itself. This means that even if someone were to steal your Trezor device, they would not be able to use it for any nefarious purposes without the PIN code. Furthermore, if the computer you are using Trezor with becomes compromised, hackers will still be unable to access your PIN.
Trezor acts to store your bitcoin information on a device that is separate from your computer and the internet, to create an incredibly secure storage method which would be difficult to compromise.
Some of the current cryptocurrencies and tokens that can support Trezor, can be found below: