Sealblock has recently launched the world’s first hardware-based hot wallet solution. The wallet addresses the requirement of exchanges, traders, and other industry players, requiring sophisticated crypto wallet solutions. It addresses the most persisting problem which is the protection of the private keys, used to sign online transactions. These keys are prone to attacks by external hackers and unauthorized internal access. Many companies use “ cold wallets” to store their keys. The efficiency of trading and transacting is significantly less with cold wallets along with increased costs of maintenance and management.
The wallet has a programmable policy engine which binds a set of signing policies to each private key. The private key is not signed until all signing policies are satisfied. SealBlock utilizes Intel SGX hardware to ensure signing of al security policies. It creates a chip level encryption boundary separate from the operating system. Thus, the wallet is connected online yet maintains the security of the cold wallet.
Richard Yu, CEO of SealBlock, said:“SealBlock marries the convenience of software hot wallets with the security that hardware cold wallets provide. We believe that this wallet solution offers a secure and effective solution for anyone storing and trading digital assets.”
SealBlock had released the first version of its hardware hot wallet in Silicon Valley area.
Terry Xing, CTO of Umining, said:“We possess a large amount of cryptocurrencies for our customers, so we need a highly secure wallet solution. SealBlock hardware wallet supports multi-sig policy with which we can easily manage the assets with multiple team members.”
Zhang Mengfan, the founder of BlockTrain, said “We have been very impressed with the innovative solution that SealBlock has developed to address a real pain point for many businesses, and we’re excited to help them share this offering with the broader community.”
SealBlock is presently conducting the first round of financing. All investors are offered to use SealBlock Wallets for securing their wallet assets.