Goldilock- The Safest and Trusted Storage Solution

sammynathaniels (45)in #crypto • 6 years ago (edited)

Preamble

Have you ever been in the disadvantaged side of the divide? I'm talking about experiencing both the disadvantages of the cold and hot storage system simultaneously. Let me begin with my experience with hot and cold storage system.
After being in the crypto business for a long time, I experienced my first lose to hackers at a moment I thought my credentials were so secured in the hot storage system. I lost a whole of money when the exchange I was trading on got attack by hackers. This made me to opt for the alternative cold storage system where I stored my encrypted brainkey in two medium.

A locally accessed hard drive
Hardware wallet.

I enjoyed this liberty of the later for a while although I sometimes experience difficulty in accessing my data when needed urgently.. Meanwhile I wasn't that comfortable with the former due to the inconvenience of going about with my laptop whenever I go on a trip. Just like goldilock wrote ..."security has a price". I guess it was time for me to pay the ultimate price... I LOST MY HARD DRIVE WHICH CONTAIN MAJORITY OF MY LOGIN CREDENTIALS ...

Introduction

Just like me, there are lots of people out there who are experiencing or who have experienced similar issue. Trying to avoid an awkward and less efficient security measures expose us to more inefficient measures. However a team of developers led by Tony Hasek and Jarrod Epps saw the flaws and the weak limbs in the system and so came up with a proven solution called GOLDILOCK.

Goldilock

Goldilock is a patent-pending, user-controlled, remotely activated airgap security solution for cryptocurrency key custody and storage of any kind of sensitive asset.

Digital asset has never in the history of mankind been this valuable until the inception of cryptocurrency where huge monetary value is places on a single unit of currency. With the exponential increase in value comes the security threats.

After a long term study on the security system of the digital world, goldilock development team discovered the cruz of the challenge which lies with the solution thereof. This discovery formed the core methodology behind the creation of the world-proven security storage system.
The basis of the discovery were;

Short term accessiblity of user's personal data per login session.
Isolation and security of credentials from physical handling thus eliminating human error
Prompt accessiblity of personal credentials.

In the bid to profer a universal solution that will not only solve the secured storage issue in the cryptocurrency world but also be the long-anticipated secured storage solution to the entire digital world, goldilock mapped out an ideal solution scheme to the problem. The solution scheme is illustrated in the diagram below...

As seen in the figure above, the three basic solution scheme are ;

Offline wallet storage through the physical airgap mechanism which is not accessible from the internet.
User activation of wallet using a non-IP mechanism making it accessible over the internet
Use of dedicated URL and access credentials to securely access wallet over an encrypted connection.

This 3-in-1 solution scheme is crafted with goldiblock patent-pending technologies which are physical airgap mechanism, non-IP mechanism and dedicated URL and access credentials. The patent on these technologies protect the implementation of this technology by any future competitor without permission from goldilock. These technologies usher in a new world order in secured storage without sacrificing accessibility by an means through the provision of;

physical airgap disconnection from electronic networks
Dedicated per-user hardware for processing storage of encrypted data
Regressive connectivity and signal processing
Biometric gateways
Device recognition
Personal generated codes
Scalable physically-aggregated connectivity solutions
Two- factor authentication
Optional multi-signature security
Secured physical vaults
Multi-site encrypted data backup
Fully-insured third-party guarantees for the extraction and delivery of data to owner on demand or in the case of business disruption.

This new world secured storage system is pivotal to the revolution of the digital world. With this proven technology and solution scheme;

Crypto ethusaists would not have any fear of data compromise which usually lead to loss of funds
Users will have the ease of accessing their data anywhere on the globe without necessarily breaching the security of such data.
Exchange site, financial institutions and cooperate agencies will operates hitch-free without any fear of security breaches which will result in a smooth flow of online business and a revolution to the digital world.
Hardware failure and system crash will not affect the accessibility and availability of data
Sensitive credentials like medical reports and military command codes will be 100% hack-proof.
Individuals and institutions alike will not have to pay a fortune to secure their data in hardware vaults which is still laced with its own shortcomings.
Cooperate organizations security standard will align with strict government regulations on data protection.

Storage System (Cold or Hot storage system?)

Investors may wish to know the type of storage framework used in designing the system, but goldiblock ideal concept neither use any of the popular two storage system which are cold and hot storage instead it uses an in-between eliminating the disadvantages of both through the goldiblock patent-pending technology.

So what is the meaning of cold and hot storage system?

Hot storage are used to store information that needs to be accessed frequently and quickly. Its' retrieval time is usually instant. Accounts with digital asset exchanges are considered hot wallets because these companies are the custodian of users fund using their infrastructure and system.
Cold storage in the other hand is a storage system where data stored in it are not required immediately. According to backblaze, data retrieval and response time for cold cloud storage systems are typically slower for services designed for active data manipulation. Hardware wallet like Trezor.io, ledger Nano s and keepkey are typically cloud storage system. They are physical devices that are kept offline but has the ability to be plugged into a computer when needed.

A critical study and analytical review of both cases proves that the solution lies in their borderlines. We need something offline(cold storage scenario) but can be easily accessible at all time(hot storage scenario). Something that is hack-proof with proven technology. Yes, that's what goldiblock offers. Its' (neither hot not cold) storage system gives user the privilege of having the unique feature of the both system using the airgap system.

Airgap mechanism is a new security protocol programmed to physically disconnect user credentials from the internet and all other electronic nwtwork after a secured encrypted connected via a dedicated URL and access credentials making it practically impossible for unauthorized users to access the data. This technology is borne out of the basic ideology that "Anything connected to the internet can be hacked". Therefore to make user data hack-proof, such is disconnected from the network after a secured access over an encrypted connection.

It is high time we advanced from the traditional way online digital asset storage system due to the severe compromise and security breaches. It is pertinent to note that over 51million records were leaked in October 2017 itgovernment.

These breaches impact negatively on email providers , bank and credit card accounts leading to the loss of millions of dollars in just 31 days. Considering the ripple effect every breach has on the system,it is pertinent to embrace and adopt goldiblock to salvage our digital world from collapse.

Combining the best of hot and cold storage system will help in securing credentials of individual and also help banks, insurance companies and other data storage institution who choose to integrate their system into the goldiblock technology to;

Earn customer's trust and reliability in their services
Increase market capitalization due to the emergence of other viable streams of income for the company
Have zero record of data theft
Have an edge over other competitors in the market
Improve organizational structure and system of governance.

Application Layer

In order to achieve its' goals and provide numerous opportunities to build the next generation of consumer and institutional applications optimised for trust and security, Goldilocks offers two application layer;

1. Goldilock wallet with its' unique feature which are:

Secured web browser wallet authenticated over SSL
Wallet key residence on a unique,segmented and encrypted hardware wallet device disconnected from the internet.
Activation of wallet through a non-IP command and PIN/voice verification over the non-IP Public Switch Telephony Network (PSTN)
Disconnection of unique hardware wallet device from the internet after use
Wallet's unique personal assigned URL
Two factor Authentication

2. Goldilock API services

These services will run on-premise, in colocation and in the cloud. The APIs can be embedded with non-decentralized applications or into stand-alone dApps. The primary purpose of these services are;

To enable institutions that already have wallet solutions to make use of patent-pending solutions for improved security on their services.
To make it easy for Enterprises and partners to create privacy-focused consent driven applications.

Lock Token

Lock token is an NEP-5 asset on the NEO blockchain required to access the goldilock wallet. Users who own this token will be able to store private keys of cryptocurrencies and other digital assets as well.

This token allows goldilock to provide users with auditing mechanism of their node activity using a type of proof of stake called Byzantine Fault Tolerance while keeping user-owned data encrypted and locally protected from Intruders.

But why did goldilock choose NEO instead of other blockchain?

It is well known that every cryptocurrency project chooses a blockchain that aligns with its' visions and solutions it profers. NEO- a non-profit community based blockchain which utilizes blockchain technology and digital identity to digitalised assets,automates the management of the assets and operates a smart economy with a distributed network was chosen because of the regulatory complaince , consensus mechanism and the speed at which transactions can be made. These attributes makes NEO the ideal platform to ensure a secured and trusted wallet utility token.

Unique Use Case

A phone book company founded in the 20th century at the dawn of the internet era is running out of business due to the transition in the storage medium of phone numbers. In the bid to stay afloat in the same line of business and to revitalize the company,the management decided to move the company with the tide of time by venturing into hardware storage facility where by customers data are stored in a hot storage system. However,due to the difficulty in data retrieval and human error in data handling, customers began losing trust on the company and little by little stop patronizing the company. Although there was a mean of adopting a cold storage system but the company was afraid to switch over because of the strict government regulations and the recent compromise in the cold storage system.

In the monthly management meeting,a young crypto ethusaist suggested the company adopts a system that employ the advantages of both storage system with patented technology. The company later adopted goldilock and integrated their system with goldilock technology. After the integration,the company's reclaim their customers' trust and made more profit than previous years.