First hot cryptocurrency hardware wallet launched by SealBlock
SealBlock has recently launched the world’s first hardware-based hot wallet solution. It is specially designed to enable consumers and businesses to hold their digital assets in a highly-secure but connected location.
The new wallet solution is meant to take care of the needs of token funds, miners, exchanges, project operators, traders, and other industry players who require sophisticated crypto wallet solutions.
SealBlock product was first demonstrated on June 23, at Silicon Valley Blockchain Security Technology Forum hosted by BlockTrain. BlockTrain is the first bilingual blockchain media platform based in Silicon Valley.
The wallet solution offered by SealBlock addresses the most pressing security challenge in crypto asset management today which relates to the protection of the private keys that are used to sign online transactions. These private keys are highly vulnerable to both unauthorized internal access and external hackers. Because of these issues, many entities employ “cold wallets” to store their keys offline in order to improve security. But improved security is accompanied by a decrease in the efficiency of trading and transacting and an increase in the maintenance and management costs.
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.”
The company provides a programmable policy engine which binds a set of signing policies to each private key(wallet). A transaction will not be signed by the private key unless all signing policies are satisfied. The policies include the multi-signature policy, amount limit policy, whitelist policy, etc.
The solution can also be used to protect other data from users, such as PII data and sensitive business records. SealBlock will build up the community and release SDKs to allow the developers to easily create highly-secure blockchain solutions based on the SealBlock technology.
The company had released the first version of its hardware hot wallet and successfully engaged early customers in Silicon Valley area, including SVBC, SWFT Blockchain, uMining, and 6M Capital.
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