Billions of dollars have been lost by the impact of hacking. Hackers are everywhere looking for the next security to break through. With the arrival of problems come solutions. In the online and cryptocurrency security sphere, cold storage solutions and hot storage solutions have come to close the bridge for these hackers but there are peculiar problems they pose too. Goldilock, therefore, comes to salvage the situation for both hot and cold storage of data and passwords.
Mt. Gox was the largest bitcoin intermediary platform as of 2013 and it was holding more than 70% of the bitcoin reserves of the world as of 2013. But in 2014, over 7% of the bitcoin reserve was hacked and transferred in what is one of the most devastating setbacks for bitcoin. Report
At the center of every hack is a security breach: a break in a password. Individuals and companies have all tried to solve this breach using hot storage methods and cold storage methods. Simply put, hot storage method involves storing passwords in encrypted forms online. This can be easily lost, hard to remember or hacked.
Cold storage has to do with using physical hardware devices to store passwords and other digital assets. This also stands the risk or being stolen, hacked or confiscated.
Accessibility is also a problem especially in cold storage companies where getting security keys can take ages.
WHAT IS GOLDILOCK
Goldilock is a highly specialized security suite that stores passwords and other data assets offline and makes it available online as soon as the user needs it beating the hacker anytime, any day, anywhere.
According to information in the whitepaper
The backbone of the Goldilock Security Suite is a patent-pending, user-controlled, remotely activated airgap security solution for cryptocurrency key custody and storage of sensitive digital assets.
Gidilock is built on the NEO blockchain
SOLUTIONS PROVIDED BY GOLDILOCK
Goldilock provides solution for the consumer by storing passwords in an offline secured data vault kept in a data center. The device used will be highly encrypted. This device will always remain offline until summoned by the user.
Goldilockwill help reduce transaction processing time for institutions by providing an online on demand environment for passwords.
The LOCK Token
LOCK will be the official payment method for Goldilock services. Users will be able to send signals to the servers only when there are LOCKS in their wallets for their browsers to open and access the services.
watch the introductory video here: