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Okay so basically I have a good idea for a bitcoin hardware wallet, i'm just looking for information on how to go about creating it?

Do I need to create my own programs/programming for literally everything? Are there open source type things I can use? Would it be illegal to use another wallets programming or whatever? I'm just really confused as to how all of this works out. I'm not the engineer involved with the product, I'm on the finance and business side of things. So forgive me if I sound dumb! Basically, what all can I use that currently exists to make this process as simple as possible without getting any law suits lol. Thanks so much!

closed as too broad by Pieter Wuille, Max Vernon, pebwindkraft, Highly Irregular, Andrew Chow Nov 29 '17 at 7:00

Please edit the question to limit it to a specific problem with enough detail to identify an adequate answer. Avoid asking multiple distinct questions at once. See the How to Ask page for help clarifying this question. If this question can be reworded to fit the rules in the help center, please edit the question.

  • If you have an engineer on the project, it might be better to ask them because they'll know the specifics of what you are trying to do :) as it stands, you're asking too many questions here, please try to limit posts to on more specific question each – MeshCollider Nov 28 '17 at 5:50
  • Well he's an amateur and not experienced with this type of thing at all. I'm just trying to figure out what exactly goes into creating a hardware wallet, like the ledger nano. Sorry my bad im on somewhat of a rampage right now because I had a great idea randomly come to me. – Ty JOUMASEPOES Nov 28 '17 at 5:54
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    The way you go about creating hardware is by hiring competent engineers, not by asking it on an online forum. – Pieter Wuille Nov 28 '17 at 9:37
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There's not a lot from a electrical engineering perspective inside a hardware like the Trezor. It's a small microcontroller, a very cheap OLED screen, some miscellaneous buttons and connectors. The entire bill of materials is likely under $10 USD for per unit.

trezor wallet PCB

The difficulty comes from the software and integrity perspective. You've got to ensure that the software doesn't lose other people's money, that it protects in the ways it intends to, and resists tampering. The hardware should be able to be produced with some confidence that the software written to the devices is secure, that nobody can replace them in transit with identical, but malicious devices. You've got to be sure nobody engineering the devices has their own backdoors to steal money from the device, that there's not ghost runs being made by a producer.

If there's a large theft relating to hardware you've produced, you'll be the one immediately blamed as responsible for backdooring them, so this is an existential threat for the producer if they get it wrong. Are you willing to take this personal risk? Most people would not agree the benefits outweigh the costs, if producing secure hardware seems like a easy idea you've probably not considered all the modes of failure.

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