The Doubt Leads to Innovation - Crypto Cold Storage Technology

Since the 2018 crypto market crash, people were doubts about if crypto was still a valid conception of the future digital currency. Part of the core idea of crypto is security. If there was no security, the crypto would not be existed or be validated.

Crypto = security + privacy

Bitcoin is the first cryptocurrency and its strength heavily depends on its security. Its whitepaper specifically dedicates more than half of the sections (6 out of 11)  to emphasis on its security. The other significant part is privacy.

Crypto wallet technology

Part of the critical structure of cryptocurrency is how to store the currency and how to secure such a store can prevent future hacking. When a wallet connects with the internet, it has potential risks to exposure in the public place to be openly attacked by hackers. Simply off-line can prevent such risks of exposure.

Cold storage wallet

The type of wallet that is specifically designed for cold storage claims to be the most secure wallet in the world. However, there is another question raised to be answered - how to measure the security of the cold storage wallet.

Evaluation Assurance Level or EAL has been a security standard since 1999. It is an assurance requirement that specific to design for the computer system to meet and achieve a level of security. There are totally 7 of levels, being from level 1 of the less secure to level 7 of the most secure level. There are also additional features that allow the system to add which level can add “+” next to the level the system achieves.

The EAL 7 has been the most secure level that formally verified design and tested. It will go through many extremely high-risk situations. There are only 2 products claimed to be certified EAL 7 in the world now. 

Ngrave Zero

This cold storage wallet is the coldest in the world that achieves the EAL 7. Impressively enough, they claimed to have a way to protect your private key.

Offline generate privacy key

The core idea of the most secure cold storage wallet is the product can generate private keys offline. It eliminates the risks of exposure to significant information online. 

One way communication

The product has a one-way communication feature to generate a one-way QR code to only allow users to access their own information.

In conclusion

I am not to sell or promote the product but simply help to explore security protocols for people to rethink the way that secures large amounts of crypto if any. It is just a fruit of thought.

Photo by Markus Winkler Unsplash
Note: the post was shared on multiple platforms.
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Disclosure: The article was written by a delusional author who is possibly a nut job without any questions whatsoever about expertise in the subject matters. You should not believe any words this author wrote or you may experience similar symptoms or even possibly become a nut job.