in crypto •  last year  (edited)

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?

source: Goldilock Website

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).
source:Goldilock Website

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"

LOCK Token

source: Goldilock Website

The Goldilock additionally will register its token known as "LOCK". Users would have to buy these LOCK tokens which will enable them to store their private keys for their digital assets. The LOCK token will be needed in order to access the Goldilock wallet. The science behind this is:

When the user logs into the Goldilock Wallet, the Wallet will query the NEO public Blockchain to confirm the user’s public key address owns a LOCK token. If the user’s public key address owns a LOCK token, then the Goldilock Wallet will launch in the user’s browser. When the user is granted access, the Wallet will write audit information to our own Private Audit Blockchain. These audit entries will ensure that every time your private key is brought online, this access is written to immutable storage that can be queried from the Goldilock Wallet. LOCK token allows Goldilock to provide users with a record of their node activity, while keeping user-owned data encrypted and locked away even from everyone including the Goldilock team. In addition, LOCK is to be the accepted method of subscription payment for individual users on the Goldilock Security Suite.

NEO and Goldilock


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.

Meet some of the Team


For further information and resources

Goldilock Website
Goldilock Discord
Goldilock Facebook


Link to Contest Post

https://twitter.com/jane_millet/status/1026003691403399169?s=19 Goldilocktwitter

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

This post has been submitted for the @OriginalWorks Sponsored Writing Contest!
You can also follow @contestbot to be notified of future contests!

To the question in your title, my Magic 8-Ball says:


Hi! I'm a bot, and this answer was posted automatically. Check this post out for more information.

@resteemator is a new bot casting votes for its followers. Follow @resteemator and vote this comment to increase your chance to be voted in the future!