GOLDILOCK: Securing Digital assets

in crypto •  last year 

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INTRODUCTION

Since the discovering of the Bitcoin, it has no doubt excelled in the digital world; paving way for new digital currencies to be birth. But the issue of security has always been a deadly factor to be considered. On this Goldilock review, I will explicitly talk on the problem the crypto and digital assets had face and continuously prey on it future. Goldilock has come to give the confidence that digital assets can be safe from theft and hacks.

THE PLAGUE THAT BEFALLS A PROMISING FUTURE OF DIGITAL ASSETS

For a long time now, stories of how billions of dollars information were hacked on the internet or stolen has been alarming. Yet, no one cares so much to put an end or eradicate this issue that has plagued the valuable assets of individuals and institutions. Records had it that for the past decade, billions of digital assets has been stolen on missing without a trace. Timothy B. Lee on 12th May, 2017 published an article on the list of hacked and missing digital assets. Let’s check out this list:

  • On August 15th 2010, Jeff Garzik, a Bitcoin Core developer, noticed that someone was able to generate a 184 billion Bitcoin transaction in a single block. This was not supposed to be so because Bitcoin’s maximum supply is supposed to be capped at 21 million. The Bitcoin protocol has been hacked and billions has been taken from it.

  • On June 13th 2011, Allinvain complained of his PC being hacked and more than 50% of his 25,000 Bitcoin was stolen to an account controlled by the presumed hacker. If Allinvain was still holding to his Bitcoin now, it would worth a lot of millions of dollars.

  • “In September 2012, a Bitcoin exchange called Bitfloor suffered a catastrophic attack. Attackers stole 24,000 Bitcoin, then worth around $250,000. Bitfloor didn't have $250,000 in reserves, so the theft effectively made Bitfloor bankrupt.

  • Information Source 1
    Information Source 2

    The list to the stories of hacked and stolen digital assets is endless. Everyday digital assets are targeted by these hackers and other factors that have led to the lost of digital assets worth billions of dollars.


    GOLDILOCK: SECURING DIGITAL ASSETS


    GOLDILOCK is a digital platform that is aimed at solving the issue of insecurity that has plagued the storage of digital assets and valuable data using a non-IP mechanism that is inaccessible to the general public and accessible to the authorized owner of assets or data.
    The GOLDILOCK stores details of users account in an offline vault that is disconnected from being access by the general internet users hence, securing valuable assets kept in it vault from hack, theft and damage.

    GOLDILOCK SOLUTION


    Why choose the GOLDILOCK? What trust your digital assets worth billions of dollars to a platform that would give you access only when you needed to access your digital assets or data? This might be the numerous questions you might likely want to know.
    Just as I have mentioned above, GOLDILOCK is the ideal storage platform because of it security consciousness mechanism. It is built on a three core perspective. Firstly, users’ personal asset information must be ready to be accessible anytime the user wants to. Secondly, these data must be encrypted and protected from being hacked or lost hence; there is need for full back up of important data of users’ digital assets. Finally, there must be ease to accessibility of users’ personal data when they needed it.

    GOLDILOCK SOLUTION FOR INDIVIDUALS


    GOLDILOCK provides protection for individual’s private key that is used to access their digital accounts. In other words, they serve as medium that securely protect users’ private keys use in carrying out digital transactions from being hacked or stolen. GOLDILOCK stores the authorized user’s private information in a private vault that is only accessible to the user when needed.

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    This vault is disconnected from the global Internet system when not accessed by the user hence; it is inaccessible to hackers since it is not within the reach of the Internet in general.
    Through an authorized non-IP mechanism, users will only have access to their secured assets via Public Switch Telephony Network which will only be accessible through an authorized login platform of the user. When the user is done with whatever information he/she needs to retrieved, the GOLDILOCK automatically disconnect from the Internet creating an air gap between the Internet and the Goldilock vault and cannot be accessed by other users. It is worth knowing that GOLDILOCK has no access to users or clients’ personal data.

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    The platform is created and encrypted for only the user to gain access to. The only job of the GOLDILOCK is to make sure no intruders are allowed into the vault to fetch confidential information and of course, clients has to make such their login information to the Goldilock platform are fully secured from any third parties.

    GOLDILOCK SOLUTION TO INSTITUTIONS


    GOLDILOCK is also keen in providing secured platform for institutions that might want to secure their transactions from theft and hacks. This includes online or hot wallets operators who store their transaction data on the Internet and also Cold or Hardware wallets operators who stores data on large storage devices.
    GOLDILOCK enable the storage of personal information like health, banks details, personal financial reports and all form of confidential information.

    GOLDILOCK APLLICATION STRUCTURE


    DIGITAL CURRENCY WALLETS


    The GOLDILOCK application will run on the NEO, GAS, and NEP-5 tokens because of the NEO secured nature in the crypto market. Clients’ accounts would be encrypted in a hardware wallet that is disconnected from the internet when not in used. This wallet will be accessible only with a non-IP mechanism and other means of verification that might include voice recognition, finger price etcetera.

    API SERVICE


    GOLDILOCK will also implement a set of subroutine definitions, communication protocols, and tools that would enable the integration of institutions that already have wallet solutions to make use of it patent-pending solution for their solutions that require improved security.

    LOCK TOKEN


    The Lock token with other smart contracts logic will enhance access to encrypt digital wallets on the GOLDILOCK. It also provides users' records of activities on users’ wallet.

    GOLDILOCK TOKEN.png

    WHY THE NEO SMART ECONOMY?

    Unlike other blockchain competitors, NEO is a blockchain platform that is to a very high extent secured. It has the ability to issue and authenticate digital identities. It also uses an improved Proof of work and Proof of stake consensus mechanism known as “Delegated Byzantine Fault Tolerance” to vote for delegates in order to attain the threshold for transactions to be received by such delegates. Due to the Delegated Byzantine Fault Tolerance mechanism, it also carries out transactions within seconds without transaction costs.

    ROAD MAP


    goldilock road map.png

    CONCLUSION

    It is no doubt that the crypto and blockchain tech that has been discovered have a promising future. Goldilock will accomplish this and the blockchain technology would be just the safe and secured place to secure digital assets and data.
    For more information about the Goldilock tech you should visit the following media:

    This is an @orignalworks contest sponsored by GOLDILOCK . You can follow this contest on: https://steemit.com/crypto/@originalworks/810-steem-sponsored-writing-contest-goldilock

    goldilock2018

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