Plain English
Trezor was the first commercial hardware wallet, launched in 2014 by SatoshiLabs in Prague. Product line: Trezor One ($59), Trezor Safe 3 ($79), Trezor Safe 5 ($169), Trezor Model T (color touchscreen). Companion app: Trezor Suite.
How it actually works
Fully open-source firmware (unlike Ledger which uses a closed secure element). Newer Safe 3 and Safe 5 models added secure-element chips while keeping firmware open. Supports Bitcoin, Ethereum, and most major chains. The 2018 firmware extraction attack against original Trezor One was fixed; newer models use additional protections.
What it means for you
Trezor is the preferred choice for users prioritizing open-source verification of their hardware wallet firmware. The trade-off versus Ledger is marginally less polish in the app, fewer supported assets, but better cryptographic transparency. For Bitcoin-heavy holders, Trezor + a metal seed-phrase backup is a battle-tested setup.
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Educational content only. Not investment, tax, or legal advice.