adapted from whitepaper
But it is not all about security. Goldilock has found a way to make digital transactions simultaneously more practical, user friendly, and efficient. Check out how it is done below. For a more in depth discussion of these concepts, please visit the whitepaper.
Goldilock Solves Custody and Accessibility Issues in the Crypto Space
You no longer need to choose between the security of cold storage (i.e. usb device) and the accessibility of “hot”, online keys (i.e. an exchange). The Goldilock solution combines the best of bost worlds. It provides an answer to damaged or lost storage devices. In terms of accessibility, its unique patent pending technology encourages mass adoption by individuals, organizations, and institutions. This last point has the potential to fulfill the promises of blockchain technology as a viable and scalable solution for digital assets.
BETTER, MORE SECURE STORAGE
Goldilock presents several new concepts for digital asset storage. It combines the best aspects of both cold and hot storage to change how the world thinks about the custody of cryptographic keys. The essence of this is in its non-IP triggered airgap technology. Users gain the security of information physically disconnected from the Internet, but have it immediately accessible at anytime from anywhere.
Airgap Technology
Investors find much needed relief through Goldilocks airgap technology. Crypto wallets are kept secure within it encrypted HSM vaults. Goldilock does not have access to data. Client maintain privacy through route request transmissions using their devices.
Goldilock patented its airgap technology with the U.S. government. Reliant upon “an airgap toggled by non-IP triggers” the ultimate in security is achieved by removing data from the Internet and electronic networks. This immense breakthrough will only be available through the Goldilock Security Suite. Institutions have two options, an in-house license or an outsourced service. In the future, institutions will be able to leverage airgap technology for API solutions.
Authorization for a non-IP command is completed over the Public Switch Telephony Network. Storage devices only become accessible after securely logging in. Once a transaction is completed, the storage device is physically disconnected. It is important to understand that Goldilock also serves as a way to manage private keys.
adapted from whitepaper
MASS ADOPTION
Goldilock provides the ultimate in security by removing and managing the electronic connection of digital data. This allows it to both improved access to data while reassuring people of their stored personal and/or critical information. It is truly redefining how the world handles sensitive digital data. Mass adoption occurs because digital operations become more practical while at the same time instilling user confidence.
It took the formation of a modern Wild West (brought on by the rush of cryptos to capitalize on blockchain technology) to make enough of the world aware of the need for data security. The old, inefficient Internet standard is simply not good enough for the crypto space. The issue of custody of encrypted keys creates a wall between institutions and the adoption of blockchain technology.
And yes this is indeed ironic considering that blockchains are intended to be more secure. Unfortunately, as blockchain tech matures, it often operates within an Internet that continually fails to keep pace.
A Wide Open Future
All decentralized transactions rely upon private keys. This makes the future of Goldilock as wide open as blockchain applications themselves. From individual credit data to banking assets and health records, Goldilock provides a physical layer of security. Simply, a cryptographic handshake with Goldilock , liberates us from Internet hacks.
adapted from whitepaper
The Goldilock solution was proved viable with its proof-of-concept at the beginning of 2018. It is a scalable solution for the ultimate in digital storage security. Mass adoption will follow as the Goldilock ecosystem grows.
INSTITUTIONAL BENEFITS
Goldilock provides institutions with many advantages. Among them are:
- highly improved overall security solutions
- the best of theft prevention
- barrier against routine hacks
- faster transaction times
- increased accessibility
- remote feasibility
- instant approval
- a real solution for critical and personal information
- secured sharing and privacy of consumer data
- enforced copyrights with increased dissemination
- convenient blockchain applications
Clients finally have a secure, practical solution for their legal, health, and financial records. Data usage improves for on-premises models, as well as, for Platform-as-a-Service. Crypto exchanges and a remote vaulted wallet thwart hacks and thefts to protect operations and client data. Wire transfers for banking becomes more secure and convenient. Sharing and reporting of data like credit and health information is now a user defined on-demand instance. Digital rights management also becomes more secure while making content more available.
BLOCKCHAIN TECHNOLOGY
Goldilock focuses on blockchain security. By choosing NEO, it can incorporate smart contracts to support applications for digital assets and identities. NEO provides Goldilock with regulatory compliance fast transactions speeds, and the utmost secure consensus mechanism in the most efficient way possible.
Regulatory compliance is made easy through NEO. It also benefits institutional audits within blockchain operations. Identities can be securely issued and confirmed through the Public Key Infrastructure. NEO achieves consensus through Delegated Byzantine Fault Tolerance (dBFT). By combining Proof of Work (PoW) and Proof of Stake (PoS), NEO’s dBFT takes the best of PoW security and PoS transaction speeds. In fact, NEO maintains the capability of processing over 10,000 transactions per second.
NEO is only a beginning. Once Goldilock transforms NEO into the most secure blockchain technology available, it plans to expand. Soon after, it will begin serving the other major cryptocurrencies. Long range plans include further expansion into mainstream and alternative coins.
adapted from whitepaper
CONCLUSION
Goldilock patented its technology in November 2017. Soon after, it succeeded in a technical proof-of-concept. In July, the first release of the Goldilock wallet and token presale followed closing on the first of institutional client agreements. Within a year, Goldilock plans to launch digital assets, release API services, provide institutional services, and become involved in device manufacturing.
You can find more detailed information in the whitepaper. Thanks to @OriginalWorks for hosting this contest sponsored by Goldilock. Visit the company’s telegram account to join the chat.