Rivetz and Parity Partner to Increase Cybersecurity
Rivetz Intl. has announced an advisory agreement with Parity Technologies to improve cybersecurity on the blockchain.
Parity Technologies reported last month that a vulnerability in a version of its wallet software led to theft of an estimated $30 million in ether. The problem was apparently created by a bug in a specific multi-signature contract known as wallet.sol, according to Parity.
Rivetz Crop. says they have contracts with the US government, as well as patent-pending cybersecurity capabilities that employ the Trusted Execution Environment (TEE). Rivetz said the TEE provides them with an isolated execution environment within the main processor to execute code that cannot be observed or altered by the operating system. This vault on the processor enables the company to store and process sensitive data, and assure that policy and controls are executed as expected.
Parity Technologies, which develops\ed one of ethereum’s main node client, Parity, will provide guidance to Rivetz on the integration of cyber security controls into blockchain networks and smart contracts.
Rivetz will provide peer-to-peer transactions with cyber controls that become a permanent part of the blockchain record, providing cryptographic proof that measured protections were in place before a transaction can execute.
“We look forward to working with Gavin Wood and his team at Parity Technologies to improve security and consumer confidence in blockchain technology,” said Steven Sprague, founder of Rivetz. “Parity Technologies will ensure that Rivetz architecture can be efficiently and securely integrated with modern blockchain and smart contract technology.”
“The Rivetz platform combines trusted computing with blockchain technology to offer provable cyber security controls for blockchain,” said Dr. Gavin Wood, founder of Parity Technologies and lead developer of the acclaimed Parity Ethereum client. “Every exchange and wallet would benefit from the utility of a provable, hardware-based multi-sig or multi-factor authentication and secure display of transaction details for transaction instructions.”
