It is apparent that Cryptocurriences have been widely adopted as electronic form of money, and it could possibly replace the traditional forms of currency in the near future. However, as these digital currencies continue to proliferate, security issues regarding cryptocurrencies are heightening on daily basis. One key drawback with these digital monies is Hackers. Also, just anybody can be locked out of their digital wallet forever should such individual forget his or her password or code; some high profile individuals like Steve Wozniak, the co-founder of Apple, has admitted the fact that he has lost some of his cryptocurrencies. In the realms of cryptocurrencies, most investors have not been able to fully understand the necessity of keeping their cryptocurrencies investment safe.
Several cryptocurrency investors assume that their digital monies are safe, but it is not the case. Cryptocurrency wallets and exchanges have become the haven for hackers nowadays. Not long ago, some hackers made off with cryptocurrencies worth approximately $530 million from Coincheck- a Tokyo-based exchange. BitGrail, a platform in Italy, also made report that indicated that it was hacked, and that the hackers made off with cryptocurrency worth $170 million. Problems surrounding the management and security of the private keys for crypto-wallets have recently become a serious blow to crypto investors. What is the way forward? Come with me, and let me introduce Goldilock to you.
What is Goldilock?
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Goldilock is an ultramodern and highly secure storage system in which the wallet of the user is stored offline by means of a physical air gap manner. Hence, the wallet cannot be accessed from the internet. This means that the personal information which comprises the private key to the digital wallet of cryptocurrencies are keep safe and isolated from the hackable ecosystem (internet).
The Goldilock device will, therefore, be always out-of-the-reach of the internet until the user chooses to access their data. Then, will the device be connected to the internet through a dedicated non-IP technology, and the data can be accessed through a secure web login. The device is then disconnected physically after the client is done. Wait what about the Goldilock Company? The Goldilock institution has no access to the user's data stored on the encrypted device.
For the Commercial Institutions
We have all heard or read of hackers making away with enormous worth of cryptocurrencies from platforms such as the exchange platforms. So what does Goldilock have in store for them? Instead of these exchange platforms saving the keys of clients in hot storage or deep cold inaccessible storage, they can resort to the Goldilock highly secure and online-on-demand environment which comes with several advantages such as reduced transaction processing time and also provides better handling of peak traffic moments during unavoidable market runs.
Goldilock also has great plans in place for Hot and Cold wallet operators. Goldilock will enable hot wallet operators to choose between an in-house proprietary license and outsourced service model with which Goldilock would have no access to the data of the client. Rather, it will rely on encrypted data that flows to requested routes via Goldilock user devices. For cold wallet operators, a cold wallet solution can be readily integrated into the Goldilock system, which will in turn enable operators to offer a remote, secure, and accessible solution.
Also, Goldilock is an ideal form of an accessible storage and on-demand device which can be used to store data such as the financial, health, and legal records of clients while providing full security. Hence, Goldilock is not just for crypto-investors. It is here for everyone. Imagine visiting a hospital and being assured by the doctors that your medical records are far out of the reach of hackers because your records have been saved on a Goldilock storage device. You would happy knowing that your records are protected assuring you of absolute privacy. Goldilock is the ideal solutions to law firms, hospitals, banks, governments, and many more. Goldilock will provide endless solutions to several commercial institutions.
Layer of the application
Goldilock cryptocurrency wallet
The wallet of Goldilock will be run with an authentication over SSL inside a web browser. Other features according to the whitepaper includes
• "The keys for each wallet will reside on a unique, segmented, and encrypted hardware wallet device that is disconnected from the Internet."
• "The wallet will be brought online via a non-IP command and PIN/voice verification over the non-IP Public Switch Telephony Network (PSTN)."
• "Upon closing the wallet, the unique hardware wallet device will be disconnected from the Internet."
• "Each wallet will maintain a unique personal assigned URL."
• "Each signed transaction will require Two-Factor Authentication"
NEO and Goldilock
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The NEO blockchain will be the first to be integrated, after which the others will follow. So why NEO? NEO seeks to build a highly secure system that is recognized by governments and enterprises in addition to digital identity, digital assets, smart contracts, and such is very core to Goldilock. NEO sets it itself from other blockchain with its aims for regulatory compliance, utilization of a superior consensus mechanism, and faster transaction. Such attributes and speed make NEO the best platform to secure a wallet utility token. Furthermore, such features are also on par with the mission of Goldilock to provide a secure and efficient transaction platform for transacting business. Goldilock is undoubtedly going be a real game changer.
CRYPTOCURRENCIES EXCHANGE
The public centralized cryptocurrency exchanges system most times act as key custodians. Their reliance on contemporary security methods has made them loose billions of dollars stolen in cryptocurrencies therefore, instead of storing client keys in online hot wallets or leaving them disconnected and inaccessible in deep cold storage, Goldilock therefore enables cryptocurrency exchanges to rely on our online-on-demand environment, reducing transaction processing times which enables better handling of high traffic periods.
AIMS AND OBJECTIVE
Goldilock goal is to become an essential option both for exchanges who are currently offering custody and for those who wish to enhance their offering by extending into custody for their clients.
Goldilock goal is to provide numerous opportunities to build the next generation of consumer and institutional
applications optimized for trust and security.
Goldilock goal is to develope a development team with the initial purpose of storing and transacting NEO, GAS, and NEP-5 tokens; making NEO the most secure cryptocurrency on the market.
Goldilock goal is to develop a Data Storage and Digital Asset Security
With
Health, financial, and legal records which are essential to a client’s personal and legal well-being. For
accessible storage for this type of information. Goldilock will partnership with banks, credit agencies , insurers, document storage, and data warehousing operators, that will offer solutions to address where these markets.
Goldilock goal is to develop a security standard where by there would be no fine for failure to protect users data.
Goldilock
It's an "an ecosystem to secure cryptocurrencies and digital assets for individuals and institutions" as said on their website.
Combining hot and cold storage
In cold storage the key information is stored in USB flash drive, which is a simpler way; also in banks with the difficulty that when you need such information you should look personally inside your bank's private storage. On the other hand, the hot ones are live wallets with the internet access.
Security and access of your cryptocurrencies
In the space provided by the system to store information on your servers makes more people have more security with it's cryptocurrencies having thus attracting more customers.
The use of "airgap" technology
Goldilock through the use of this technology separate your data from the internet so that hackers do not have access.
NEO platform
They created this plataform in order to : processes transactions faster, to have a superior consensus mechanism and and use digital identitites.
Banks and Insurance companies on their integration with Goldilock
Insurance companies and other institutions are fined if they do not protect the assets of their costumers, and with the integration with the technology from Goldilock will help them protect those assets in all the ways possible.
CONCLUSION
With goldilock you need not to work about hackers and theft of files and cryptocurrency because Goldilock is a solution to the deficiencies of hot and cold crypto key and sensitive data storage.
Goldilock is not a cold or hot storage, it is just the right storage.
THE GOLDILOCK TEAM
John Nasek, who is the cofounder of goldilock is a company builder who saw the need for the safety of our digital data.
Goldilock has many importance but let me mention a few more.
Crypto Exchanges:The use of traditional exchanges as a key custody solution is popular and convenient, especially for the less advanced cryptocurrency consumer. However, as seen from routine hacks and thefts that reach into the billions, these methods are less than completely secure. With the integration of Goldilock security's core custody solution, exchanges become a more viable key custody solution by isolating their users from these attacks. We look forward to publicly announcing our first exchange partnerships in the next few weeks!
Credit Reporting Agencies:
Hacks into credit accounts and credit identities occur daily. With the data breach last year at Experian, approximately 150 million households were victims of data theft. Millions of users scrambled to ‘freeze their credit’ to avoid accounts being opened in their name, and many now struggle to unfreeze it. The application of Goldilock technology will eliminate the need to have personal credit information online except in times when you, the owner of that credit information, give instant approval for credit agencies to make it available for specific periods.
GDPR Compliance:
Governments worldwide are adapting to the sensitivity of data, and many jurisdictions now have strict regulations requiring security to protect personal data. For example, the European Union’s General Data Protection Regulation (GDPR) threatens fines of over €20million for failure to protect consumer data. GDPR represents a massive opportunity for Goldilock, as many technology providers do not have a technology solution to protect consumer data.
Individual Remote Vaulted Wallet:
As a cryptocurrency owner, your top priority is protecting your confidential data while still keeping it immediately accessible. Using Goldilock, you no longer need to tote around a device holding the key to your personal wealth. With Goldilock, private keys are never exposed, sensitive operations are isolated inside your hardware wallet, physically disconnected from the internet, locked in a vault with multi-location redundancy, and accessed remotely via biometric gateways leveraging security codes delivered over multiple device access points. Transactions can't be tampered with, and they are digitally verified in multiple locations simultaneously, leveraging your personal LOCK token.
A DEVELOPED BLOCKCHAIN:
Thanks to the Blockchain developer named Mike Alvarez
Mike is a Senior Full Stack Engineer who has been working on a number of projects.He is a great talent and he has made goldilock fantastic.
ADVISORS
More information & recommendations:
https://www.goldilock.com/
Goldilock2018
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