Trezor (from Czech: “safe” or “vault”) is the world’s first commercially available Bitcoin hardware wallet, created by SatoshiLabs — founded by Marek “Slush” Palatinus (creator of Slush Pool, the world’s first Bitcoin mining pool) and Pavol “Stick” Rusnák. The original Trezor Model One was released in 2013, predating Ledger by a full year and establishing the hardware wallet category. Trezor is renowned for its fully open-source hardware and software, distinguishing it from Ledger’s partially proprietary Secure Element approach.
Background
Marek Palatinus built Trezor after witnessing the risks of keeping Bitcoin on computers and exchanges. SatoshiLabs, headquartered in Prague, released the original Trezor with a simple design: a small device with two buttons and a small screen that signs transactions offline without exposing private keys. The full open-source nature of both the firmware (Trezor firmware) and hardware designs allowed community security audits.
Product Line
| Product | Description |
|---|---|
| Trezor Model One | Original entry-level device; two buttons; monochrome screen; USB-A |
| Trezor Model T | Premium device with full color touchscreen; USB-C |
| Trezor Safe 3 | Updated entry-level with Secure Element chip option; USB-C |
| Trezor Safe 5 | Premium touchscreen model with Secure Element |
| Trezor Suite | Desktop and browser companion app for asset management |
Open Source vs. Ledger
The primary philosophical and security distinction between Trezor and Ledger:
| Factor | Trezor | Ledger |
|---|---|---|
| Firmware | Fully open-source | Partially proprietary |
| Hardware schematics | Published | Proprietary |
| Secure Element | Optional (Safe 3/5) | Yes, always (custom chip) |
| Auditability | Community verifiable | Third-party certified |
The open-source approach allows independent verification but also means vulnerabilities are public. Ledger’s closed SE chip is harder to audit but provides physical tamper resistance certified to CC EAL5+.
Notable Security Events
- 2019 Donjon Research: Ledger’s internal research team published a physical attack on Trezor Model One’s security, extracting the seed via voltage glitching. Trezor argued the attack required physical possession and specialized equipment.
- 2021 Kraken Security Labs: Kraken disclosed a similar physical attack method. Trezor updated its passphrase recommendations as a mitigation.
Related Terms
Sources
- Trezor Website — product and security documentation.
- Trezor GitHub — open-source firmware and hardware.