Decentralization to the rescue: REMME – Decentralized Key Storage (Sort Of)

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Previously published

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VICE – The Porn Token
The Sun Exchange - Solar Microgrids in Africa
Brave – Encrypted Internet Browser
Sphere – Social Media that Tokenizes Your Personal Data
Ignite – Decentralized Rating System
Peerity – Steem’s Competitor

Cyber security

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Ever since I joined crypto movement, my need of strong cybersecurity has increased exponentially. I’m slowly getting to a state where I would be satisfied with my security choices (basically state where all my actions are trying to minimize risks), but decentralized key storage was still nowhere to be fund. Up until now…

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All of us need to have several passwords in order to access different platforms. And where do we store those password? Well we have several options…

• We remember it – which means that it is fucking useless password that can be hacked with close to no effort… don’t do this guys if you really care about the content that is being locked behind the password.
• We make a virtual backup of the password (document in a PC or an external disk) – much better option, but then again, such a document can be accessed by a hacker if you do a “virtual misstep”. Having a backup on an external disk is though highly recommended).
• We make a paper back up – Much safer than any virtual copy, but who wants to manually copy 18+ characters password?
• We use centralized key storages

Centralized key storages

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In a crypto world one has to have a significant number of unmemorable passwords. I believe (correct me if I’m wrong) that most of crypto users sooner or later have to opt for some kind of key storage, because it saves quite some time (a lot of time to be honest). Even people not necessarily committed to crypto often times opt for a key storage for the sheer facilitation of online activities.

What does though crypto and decentralization teach us (or me at least:D)? Well most importantly it shows us the weaknesses of centralized systems. The one that is relevant to this article is the fact that they are more or less rather easily hackable. In other words, we do try to maximize our cyber security by various steps, just to offer our keys to a centralized company that holds them on a very limited amount of data storages (where they are waiting to be hacked). And truth is that attackers know this (it’s after all quite common knowledge) and are frequently trying to break into those storages and steal the passwords.

That means that there is a huge gap in the market – Decentralized key storages are needed!

REMME – the solution

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I knew this for several months now and have been actively searching for such a project. And finally I have found it. Let me present REMME to you.
I have read through the whole whitepaper and I love the project. Let me say right from the bat that it contained a lot of technical aspects that I couldn’t really digest. My knowledge about cryptography is rather smattering. I simply do believe in Blockchain since it remains unhacked for about 10 years now, which makes it a safest place to store the data in virtual world. So how does REMME actually work?

We can buy a certificate (very much like banks use) using REMME token onto which we seal our passwords, which is then locked into the Blockchain (anonymously of course), while we keep the other part of the certificate (private key I guess). Our gadgets that have the other part of the certificate then connect to the Blockchain with our passwords whenever we want to login onto a platform. We then don’t need to fill anything, we simply press login and the Blockchain solves the rest for us.

Such a system is prone to physical stealing, because the Blockchain has of course no way how to verify, whether the user trying to use the passwords is really us. That’s why we can enable various forms 2FAs as an additional layers of protection.

This really is it. Sometimes great tools can be explained in a very simple way I guess:P. You could maybe use visualization right? Check out Dr. Emmett L. Brown who has travelled back to the past to explain REMME maybe in a better way than I do:D.

The biggest strengths of the project

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• Keys are stored in a decentralized system
• The “service of the Blockchain” can be picked up by any other platform (no technology limitations)
• No fees for other certificates. REMME stores all our passwords for one fee.
• Fast and protected revocation process.

There is only one thing that keeps me from investing a lot into the system. They aim to have a stable price of the token. I’m not interested in stable tokens now. I do love the volatility and I still have time before I’ll be moving portion of my portfolio into a stable token. I though want to use the platform for the reasons explained above some I’m going to invest some of my ETH into the ICO (if there still will be place after all the whitelisted members has sent their contributions. You can track the ICO here

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