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Developed by Czech startup SatoshiLabs, the Trezor is essentially a USB dongle designed to add an extra authentication layer to all outbound bitcoin transactions.
By virtue of its design, Trezor can be used to sign transactions on 'unsafe' computers and is impervious to keyloggers and many other vectors of attack, so even if your host PC is compromised, the attacker has no way of getting your private key.A 'vault' for your private bitcoin key.