Specter Wallet: The Origins

There are many tools and technologies in the world of Bitcoin security, but few have been as groundbreaking as the Spectre WalletThis open-source project has changed the way users manage and secure their Bitcoin. But how did this success story begin? Who are the people behind it? And what makes the Specter Wallet so unique?

In this blog post we take a look behind the scenes of the Spectre Wallet, shed light on its development and how it became one of the best tools for Bitcoin users who value maximum security.

The beginning: Moritz Wietersheimer and the decision for better hardware wallets ????

In 2017, Moritz Wietersheimer, CEO of Specter, decided it was time for better hardware wallets. After extensive market analysis and product development, he spent over a year searching for a technical partner who could help him realize his vision. Moritz was determined to develop a solution to the growing security concerns in the Bitcoin space.

The meeting: Moritz and Stepan Snigirev ????

In 2018, at a Bitcoin conference in Portugal, Moritz met the quantum physicist Stepan Snigirev. Stepan, the 10 years in laboratories at the Max Planck Institute and the Russian Quantum Center not only brought incredible expertise in the Technology development They not only brought along a working prototype of a hardware wallet, but also already had a working prototype of a hardware wallet with them. Together, they decided to pursue the idea further.

Despite initial progress, securing funding proved difficult. In 2019, Moritz invested his own money in the project, but investors remained skeptical. Yet the team didn't give up.

The birth of Specter Desktop ????

When she worked on her hardware wallet, the Specter DIY, they realized that they needed a suitable desktop app that would meet their high standards in order to be able to use the Specter DIY optimally. Here again Stepan Snigirev He developed the first prototype of Spectre Desktop, the first Companion Appwhich enabled users to Multi-signature wallets to create and create your own Bitcoin Node This was a major step forward in Bitcoin security and gave users more control over their wallets.

Specter Wallet: community support and a growing team ????

At this time Kim to the team, a programmer who has been significantly involved in the further development of Specter since Q4 2019. Other developers such as Ben Kaufman and Manuel were actively involved. And even the later founder of the SeedSigner project Keith helped to further develop Specter Desktop and Specter DIY. There were also several other volunteer developers who contributed to the project. Keith also designed the first Case The so-called Barebone Case for the Specter DIY was developed during this time. The improved version of the Specter DIY, the Specter Shield, was also developed during this time.

Challenges and growth during the Corona pandemic ????

However, during the Corona pandemic there was a major challenge: Chip supply bottlenecks, which are used for the assembly of the Specter DIY This meant that the team had to scale back marketing for the Spectre DIY and focus more on Spectre Desktop Specter Desktop became the main product, and they were even able to Money from Blockstream collect to integrate special liquid functionalities.

Despite the challenges, the project 100% Open Source and pursued no profit-oriented goals. The idea behind it was always to offer users a transparent and secure way to manage their Bitcoin – without any hidden costs or compromises on security.

The takeover by Swan and the consequences ????

In 2022, Specter was finally released by Swan , a well-known platform for Bitcoin investments. Although this initially seemed like a big step forward, it quickly became clear that Swan was not focusing on the further development of Spectre Desktop and Specter DIY as the original team had done.

The updates have not been completely discontinued, for example, the Spectre DIY recently had the BIP85 integration released, but the frequency of updates decreased significantly compared to previous years. Nevertheless, the Specter DIY has reached such a high level that it can not only be used safely today, but also still maintains an extremely high standard among all possible hardware wallets. Since one of the most static things in the digital world is new developments, this is not necessary for hardware wallets like the Specter DIY to remain extremely secure.

What made Specter Desktop so special?

The Spectre Wallet stands out from other Bitcoin wallets with some unique features:

• Watch Only function: With Specter Desktop, you can monitor your Bitcoin wallet without revealing your private keys. This ensures maximum security, as only you have access to your private keys.
• Multi-signature walletsSpecter Desktop makes it incredibly easy to create multi-signature wallets. This increases security, as multiple keys are required to complete transactions.
• Integration with your own node: Specter allows you to run your own Bitcoin node and ensure that you have full control over your transactions without relying on third parties.
• Open Source: The entire project is open source, which means that anyone can view the code and ensure that there are no hidden vulnerabilities.

What makes the Specter DIY such a good hardware wallet for Bitcoiners?

Standard electronics: The Spectre DIY is built from readily available off-the-shelf electronic components without requiring any personal data to be disclosed. It can be used discreetly as a signing device, even in countries where Bitcoin is banned.

Large touchscreen: The large, smartphone-like touchscreen makes it easier to enter seed words and navigate, which is often cumbersome on smaller devices.

Pure signing device: The Specter DIY does not store seed words. These must be entered manually or imported via SD card or SeedQR, providing additional security.

Multi-signature and Uncle Jim: With just one Specter DIY, you can create multiple multi-signature wallets. This lets you act as "Uncle Jim" and help friends and family set up secure watch-only wallets without storing their seed phrases.

Transparent real life coincidence: True randomness, such as coin tossing, can be used for seed generation to further increase security.

Conclusion: Specter Wallet – The secure future for Bitcoin users ????

The history of Spectre Wallet shows that true innovation can come from persistence and the will to create something better. Despite many challenges, Specter has established itself as one of the leading solutions for Bitcoin security. Specter Desktop was my favorite desktop app (companion app), but since it was downgraded to Swan and a few bugs have crept in, I recommend the Sparrow Wallet. As I mentioned before, I'm still completely convinced by the Specter DIY, which, in my opinion, has emerged as the best hardware wallet for Bitcoiners thanks to its various features and options.