Blockchain Starup SealBlock Launches Hardware Hot Walletbr>
Blockchain startup SealBlock has launched a new hardware-based hot wallet designed to enable consumers and businesses to hold their digital assets in a highly-secure but connected location.
The SealBlock hot wallet, which was first demonstrated last month at Silicon Valley Blockchain Security Technology Forum, addresses the needs of token funds, exchanges, project operators, miners, traders, and other industry players who require sophisticated crypto wallet solutions.
“The SealBlock solution addresses the most pressing security challenge in crypto asset management today – the protection of the private keys that are used to sign online transactions,” the company said. “These private keys are highly vulnerable to both external hackers and unauthorized internal access. As a result, many companies employ “cold wallets” to store their keys offline. Although security is improved, the efficiency of trading and transacting is dramatically reduced, and maintenance and management costs increases.”
The wallet employs Intel SGX hardware enclave technology to protect private keys, transaction signing, and the security policies, which include the multi-signature policy, whitelist policy, and amount limit policy, amontg others. Intel SGX creates a chip level encryption boundary isolated even from the operation system. In addition to protecting user’s cryptocurrencies, the solution can also be used to protect other data from users, such as PII data and sensitive business records.
“SealBlock marries the convenience of software hot wallets with the security that hardware cold wallets provide,” said Richard Yu, CEO of SealBlock. “We believe that this wallet solution offers a secure and effective solution for anyone storing and trading digital assets.”