Goldilock : The Crypto Key Custody and Digital Asset Storage Solution

marizanne (10)in #crypto • 6 years ago

INTRODUCTION

Data storage is an essential part of life a living man can’t do without. Documents (certificates, medical reports, wills and deeds, sales invoice and lot more), data and cryptocurrencies needed to be save in a way it can be easily accessible and secured. which brought about various data storage means such as hard drive, flash drive and cloud savings (saving document online). Due to the fact that the data saved on hard drive, flash drive on computer can easily get damage or lost, the most used data storage means is the cloud saving means. Although, this method is better than the existing methods before its arrival, but this method is expose to hack, which will eventually lead to the disclosure of the information stored on it to an unwanted party. I was shocked when one of my friends told me how he maneuver his way to get the password of a girl who blocks him on facebook via IP address, change her password and deny her access to her personal account. Which is not supposed to be so. Come to think of it, if a student who is not even grounded in hacking can just watch youTube videos to get another person’s password and deny her access to her account just because she block him, what if money is attached to it?, what if the information stored in the account he high jacked via IP address contain information that can ruin her life if exposed to an unwanted person? This is why Goldilock came on board to guarantee the security of everybody’s data via a non IP means.

WHAT IS GOLDILOCK?

GOLDILOCK is a not a hot storage nor cold storage but just the right storage whose means of saving data is hailed by banks, credit agencies, healthcare companies, digital right management groups, crypto exchanges and lot more. GOLDILOCK is an ecosystem which make use of NEO to create a perfect platform which operates without IP address in other to prevent hackers from gaining access to stored data.

Roadmap

WHAT ARE THE FLAWS IN EXIXTING DATA STORAGE MEANS SOLVED BY GOLDILOCK?

Due to the centralized method of saving date used by cloud saving platforms, the control of private keys is removed to the custodian of the saved data which prevent their customers from having idea or power over how their data or cryptocurrency is stored. If the security of the website develop flaws, every data saved on it is exposed to danger from hackers. This is not just saying, there are many examples of security hacks just like the one my friend told me about and the one which happened to an already grounded data saving platform named Mt.Gox. If the mighty Mt.Gox can fall a victim of hackers, how can our data be safe? That is why GOLDILOCK came up with physical airgap disconnection method. This method is the perfect answer to prevent hack because as it name implies, it disconnects data from internet immediately after the user has finish accessing it and will no longer come online until when the owner sign in again.
in other to avoid exposure of data to hackers via IP address, many people prefer to keep vital data most especially personal records and cryptocurrency through their personal storage means. But if not carefully taken care of, the physical devices in which the data is stored can get damaged or may be misplaced by the owner. Above all, the data cannot be accessed without the presence of physical devices such as laptop or computer. In other to help relieve individuals and companies from the burden of managing a personal storage method, GOLDILOCK.
Dedicating per-user storage hardware for processing the storage of encrypted data.
Regressive connectivity and signal processing.
Biometric gateway is introduced by GOLDILOCK in other to prevent third party access.
GOLDILOCK also provide solution to scalability problem in physically-segmented connectivity through the use of decentralized storage means
Providing secured physical vault to increase the security of her client’s data and lot more.
GOLDILOCK’s amazing approach, tactics and technology is said to be a not cold or hot storage but the right storage because it provides solution to the flaws of both cold storage and hot storage in other to give stored data the best security without any flaw or opportunity for hackers to gain access which has brought a very great improvement to the data saving industries and how people handle their sensitive data.

Cryptocurrency and Hacking

There's nothing in the internet that is unhackable and this includes cryptocurrencies, exchangers and the blockchain network. Though the blockchain is extremely difficult to hack it does not mean that it is safe from attacks. On the contrary, the blockchain network have suffered countless hacking attempts through the years. Some of these attacks had been successful, resulting in losses that reached hundreds of millions.

Most of the cryptocurrencies stolen are from large exchangers. Exchangers that we trusted to store and hold our cryptocurrencies but failed to deliver their promises—and users cryptocurrency wallets compromised. Cryptocurrency wallets are either online or offline, and both needed access the internet if the users wanted access to the cryptocurrency stored in it. This is where the problem lies. Because once it access the internet it will be susceptible to attack.

To remedy this, we need a wallet or cold storage that cuts itself off from the internet but can be accessed anytime by the users. Is that even possible? Yes it is! How? With Goldilock of course!

BENEFIT OF KEEPING DATA OFFLINE WITH THE USE OF AIRGAP

I mentioned airgap to be a key tool use GOLDILOCK to ensure the security of her client’s data. GOLDILOCK consider airgap as the most suitable means of securing data because it works just like the switch of a bulb. If the bulb is needed to produce light, the owner turn the switch on, which will connect the bulb to the power source and it will light up. But if the light produce by the bulb is no more needed, the switch will be turn off. Which will disconnect the bulb from the power source and the light will go off. Internet functions like the bulb, airgap functions like the switch and the stored data is the power source. Once the owner of the data has finish accessing his or her data, the airgap turn off access to the data and will not be visible online until when the owner login to access it again. Thus, hackers will never gain access to data protected with the use of airgap.

Therefore, GOLDILOCK is not only useful to single individual but it is also useful to organizations such as banks and insurance companies if they integrate GOLDILOCK’s security system to their existing security system to ensure the sound security of their client’s data.

GOLDILOCK LOCK TOKEN

LOCK is an NEP-5 asset on the NEO blockchain which is purchased for the purpose of allowing private keys for cryptocurrencies and other digital assets when coupled with GOLDILOCK’s proprietary smart contract logic. This token is required to have access to Goldichain wallet.

Lock token also allows GOLDILOCK to provide users with a record containing their node activities while keeping user’s data encrypted and locked away, even from GOLDILOCK’s team members.

WHY DID GOLDILOCK’s OPT IN FOR NEO AS A PREFERD PLATFORM TO OPERATE ON

GOLDILOCK prefers to make use of NEO because NEO is the first platform to offer a feature set focused on allowing a regulatory complaint smart economy, the platform also utilizes an outstanding consensus mechanism to cause improvement in prove of work(e.g bitcoin) and prove of stake ( e.g NXT). The consensus mechanism used is named “Delegated Byzantine Fault Tolerance.

Afterwords

Goldilock knows the inherent weakness of the internet, hence, it develops technologies and protocols that can eliminate this weakness, and established a truly secure digital storage ecosystem. An ecosystem safe from hacking or attacks.

CONCLUSION

GOLDILOCK provides the best means of data savings with a lot of features embedded in it, to be a user of GOLDILOCK, click here to register.

Team

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