Parity Releases New App Version That Turns Old Smartphones Into Offline Wallets

Parity Technologies launched another version of Parity Signer, a mobile application that transforms old smartphones into offline wallets. 

The company revealed the V3 beta on October 2, which will allow clients to store assets, sign transactions offline, and vote for government proposals, with integrations for both the Ethereum and Polkadot blockchains.

Offline, or “air-gapped,” wallets give the easiest type of protection from hackers and malware attacks. The company proposes that smartphones running the application be kept on airplane mode.

“To keep your funds safe, the phone containing your accounts should never be connected to the internet or even be connected to a device that is connected to the internet (such as a computer),” the firm said. Clients need to also wipe their phones of biometric and identifying data in a factory reset before downloading the application.

The new version enables clients to make Kusama accounts to connect with Polkadot-js applications. For all accounts, clients will get a recovery phrase and assign a “pin” to sign transactions. Transfers don’t include private keys, but rather use the business standard QR code for two-way correspondence between hot wallets and cold signers.

The application’s code was examined during a recent overview of the whole firm performed by Trail of Bits.

Parity was co-founded by previous Ethereum Foundation security head Jutta Steiner and Gavin Wood. The firm creates tools for the decentralized web, including Substrate, a service that gives clients a chance to make customized blockchains for decentralized applications.

In January, Parity was granted a $5 million award from the Ethereum Foundation.