Square open-sources its Bitcoin cold storage tool

23 Oct, 2018
by Richard Allen
News
Square open-sources its Bitcoin cold storage tool

US-based digital payments platform Square has announced that it’s made its Bitcoin cold storage solution open-source, according to a blog post by Square security engineer Alok Menghrajani.

According to the post, the documentation, code, and tools for the company’s “Subzero” Bitcoin cold storage solution are now available to the public on Github. The move came as a result of Square’s hope to further inspire innovation in the crypto sphere and help companies in the nascent industry fulfill their security needs.

“We hope that by sharing our work, we can make it easier for others to fulfill their security needs, enabling even more innovation — and better protection for all players — in the cryptocurrency space. In the long run, since we had to solve problems that other companies may face, we are interested in standardizing some of our work.”

Subzero uses a Hardware Security Module (HSM) that is designed to run a custom Bitcoin wallet implementation called Subzero Core.

Additionally, Menghrajani stated that because the underlying HSM is programmable, Square developed a technology that is capable of ending Bitcoin from a hot wallet to the cold storage at any time. The program requires multi-party signatures before bringing the crypto back to the hot wallet.

"The HSM is programmable, allowing us to support bitcoin wallets today while giving us the flexibility to implement other protocols in the future," he said.

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