We live in a world where the Internet keeps growing rapidly which has led to the storage of datas been stored online. This is because everything kept online is instantly accessible from any where at the speed of a click.
The vast advantages of storing datas online cannot be overemphasized, reasons been that it has been in a way the known secured means of storing our datas. A few of the advantages of storing datas online will be discussed below;
World Wide Accessibility: This is the main advantage of online data storage reasons been that you can access your data anytime and anywhere in the world. It reduces the risk of misplacing a file because you don’t have to carry your hard disk, pen drive or any other storage device.
Data safety: This is another advantage of online storage device because one cannot trust the HDD and storage device every time because it can crash anytime. In order to make your data safe from such hazards you can keep it online.
Easy sharing: You can share data with your friends’ faster, easy and secure manner, which means you can just go online and get data and share, it's that easy.
Automatic backup: This is another benefit of online data storage because you can even schedule automatic backup of your personal computer in order to avoid manual backup of files.
In our present day world, majority of population of a country is keen on making money real quick and looking for easy roots to go about it thereby indulging in Juvenile delinquency acts which in turn leads to and increases the rate of Insecurity.
Like my Lecturer always says "we are all living in a world of base 10" 😁, this in turn means Newton's Third Law of Motion which "states that to every action they must be an equal or opposite reaction" backed with the saying that everything that has an advantage also has a disadvantage acts in our everyday lives. With all the vast advantages of the online storage of data mentioned above, they are factors that must still be noted.
It should be noted that anything connected to the internet by online storage means can and will be hacked. This is one of the major and most factor to be considered when storing datas. This has in turn spoilt all the advantages been listed, reasons been that anything prompt to hack shouldn't be considered with a smiling face.
With the fear of hack, a team of people came together to brainstorm on ideas of how to improve their online protection, with this in place and joy in my heart, an engineer on the team brought up Goldilock.
Goldilock has predicted the mind of digital criminals and offers a digital assets security system that keeps digital property beyond the reach of unauthorized users but within swift reach of original owners. It works by securely storing digital assets like cryptocurrency wallet keys, health records, credit card details, etc in an isolated physical storage platform. Goldilock employ layers of secure authentication to keep digital data completely isolated and safe; making them available only when they are needed.
Our present day storage system has basically forced/constrained Owners of digital assets to choose between the two known vulnerable storage methods which are highlighted below;
(1). Hot Storage: Hot storage carries the biggest risk factor since it stores data "securely" online reasons been that the customer of an exchange or an online wallet generally has no idea or power over how their cryptocurrency is stored. The website could have security flaws, exposing all the user funds to hacks. The fact basically remains that nothing is secure online.
They has been numerous cases of online data hacks in recent history most notably the famous Mt.Gox case and many others.
(2). Traditional Cold Storage: This involves the use of personal hardware like CD's, flash drives, hard drives, personal server, or other devices to store digital property. Storing wallet keys in banks or using encrypted cold storage solutions like the one offerred by Coinbase are all in this category.
Digital assets stored using cold storage is not completely safe. What happens in a case where natural disasters like flood, hurricane, or earthquake occurs, data and its storage medium will be lost. Cold storage is also prone to theft, hacking, misplacement or other data loss events. In the case of an encrypted cold storage system, the stored data may not be easily or quickly accessible and this defeats the objective of a cryptocurrency trading organization or individual.
Goldilock has a very vast fields where the application system technology can be applied. A few will be discussed below;
- IDENTITY
This is one of the application of the Goldilock, Digital personal identity data requires a high level of security and traditionally people handle the documents physically or scan and email the information required. This leaves huge security gaps, as your personal documents are stored online on your email account or on a drive, and are prone to hacks and malicious use but with Goldilock, users are granted access to their data and digital assets on a per need basis. After the user has finished performing their identity verification, for example, the data goes back offline, inaccessible for anyone to see or access.
- WALLET
Goldilock This is another application of Goldilock because it can be used to store cryptocurrency in a way that offers the security of cold storage, while maintaining the convenience of an online wallet. Users are able to hold their cryptocurrencies with Goldilock, and the information will be stored offline until such a time that the user requests their individual encrypted node is connected to the internet using an analogue command off the internet, whereupon they can access their data via an encrypted channel over the internet after passing through bank-level security gateways. While using the Goldilock the private key 🔑 never leaves the individual node that is to say it cannot be corrupted.
- VOTING SYSTEMS
It is of great joy that Goldilock can metigate the voting system because they have really been cases when results are been hacked and manipulated, the Goldilock patented security protocol can extend to very crucial and practical applications and now results will be stored offline for better results.
- CREDIT SCORE
Credit scoring companies have also been subject to hacker attacks. Banks are partnering with Goldilock,
integrating their security layer for larger accounts and for enacting wire transfers, with both being connected only for the duration of intended interaction of data with individual user accounts.
NEO is a unique blockchain technology so different from what others offer. While many blockchains focus on offering security or utility tokens, NEO goes beyond. NEO is a distributed network-based blockchain technology to secure digital assets using digital identity and smart contracts. By building a system fully focused on digital asset, digital identity and smart contract, NEO hopes to set a standard in digital assets management recognized and approved by organizations various governments of the world.
With blockchain technology, the digitization of assets can be decentralized, reliable, traceable, highly transparent and free from intermediaries. In NEO blockchain, users can register, trade and circulate multiple types of assets. Testing the connection between digital and physical assets is possible through digital identity. Since NEO is a blockchain platform or block chain. Briefly, blockchain is a data structure that is stored in sets or blocks, distributed in a network. The confirmation of this data is achieved through a process of "consensus" among the participants of said network. This translates into a great security and veracity of the information, "it is a trusted machine".
GOLDILOCK TOKEN
Goldilock utility Token is called LOCK. This token will be registered and 1 billion LOCK tokens minted for Goldilock transactions. These token will be used to store and access digital assets like cryptocurrency wallet keys, digital health records, credit card details and other digital property. Consider how the token is used for each transaction
Goldilock API Services
Some institutions already have wallet solutions, but they need improvements for the security of their solutions. As a result, They can make use of Goldilock patent-pending solution for their solutions just by using the API services of Goldilock.
LOCK will be used as a payment method for various users to subscribe to the services of Goldilock wallet. The LOCK token of Goldilock will first be registered on the NEO blockchain, with others coming into place at a later or suceeding time.
Token Allocation
A total supply of 1 billion LOCK tokens will be mint on the NEO blockchain by Goldilock as a part of contract deployment.
Meet the Team of Goldilock
The team have a long term experience of entrepreneur in financial services, leading technology, and marketing with attention fully concentrated on innovation.
Goldilock is keen on changing the way cryptocurrencies and sensitive data will be stored, combining the benefits of using cold and hot storage to create the perfect method system.
With this new system put in place, users will no longer have to worry about losing their datas to third party actions as they will know exactly how they are stored, and providing more efficient ways to make secure transactions and people will be able to keep their data and cryptocurrencies wallet with them all the time.
with all said and done, Goldilock is simply a mechanism that will keep, secure everything you want no matter what it is in the same way.
Meet the Advisors of Goldilock
Goldlock Roadmap
For more information watch this short feature intro:
More Information & Resources:
- Goldilock Website
- Goldilock WhitePaper
- Goldilock Tokenomics
- Goldilock Telegram
- Goldilock Discord
- Goldilock Linkedin
- Goldilock Facebook
- Goldilock Twitter
- Goldilock Reddit
- Goldilock Github
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