Israeli startup GK8 unveiled a cold-storage crypto wallet with on-network transfer capabilities, the company said.<\/p>\n
GK8s technology removes many of the dangers internet-accessible crypto wallets face hacks, attacks, unexplained losses while preserving their more convenient features, such as sending and receiving digital assets.<\/p>\n
In an interview, GK8s co-founder Lior Lamesh told CoinDesk that a unidirectional connection links its wallet directly to the blockchain, where it transfers assets as conventional wallets do. GK8s one-way signaling does not itself operate on the internet.<\/p>\n
GK8 says its techniques bypass core assumptions related to cryptocurrency transfers and eliminate attack vectors to any asset transfer.<\/p>\n
Several cryptography experts are among GK8 board members, including Prof. Eran Tromer, one of security token Zcashs founding scientists.<\/p>\n
In a video,Tromer said:GK8s cold wallet solution improves on the state-of-the-art by having essentially unidirectional communication from the wallet to the outside and never accepting raw information from the outside back into the cold wallet.<\/p>\n
This minimizes the attack surface and prevents attacks, he said.<\/p>\n
GK8 secured five patents for its innovations, according to the announcement. A patent abstract associated with Lamesh described the technology as follows:<\/p>\n
The digital wallet device is electronically disconnected from other digital devices and comprising: a cryptocurrency integrated circuit (IC) that is isolated from any computer interface and a unidirectional communication hardware for sending said transaction to a communication device for broadcasting said transaction via a network.<\/p>\n
The founders are veterans of Israeli cybersecurity, according to Lamesh. Both served as cybersecurity experts to the prime minister before founding GK8 in 2018.<\/p>\n
Lamesh said that he and co-founder Shahar Shamai began working on GK8s cold wallet after finding security vulnerabilities in state-of-the-art wallets. They were both bothered by the risks of storing assets online.<\/p>\n
We tried to think: how can we make a fully operational cold wallet with no internet connection at all. And we ended up doing exactly that, Lamesh said.<\/p>\n
He said that GK8 seeks to become the cold wallet of choice for institutional investors.<\/p>\n
GK8s project raised $4 million in seed funding from a series of Israeli investment firms, including from the government-run Israel Innovation Authority.<\/p>\n
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Israeli Startup Creates Offline Wallet With Access to the Blockchain - CoinDesk<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Israeli startup GK8 unveiled a cold-storage crypto wallet with on-network transfer capabilities, the company said. GK8s technology removes many of the dangers internet-accessible crypto wallets face hacks, attacks, unexplained losses while preserving their more convenient features, such as sending and receiving digital assets. In an interview, GK8s co-founder Lior Lamesh told CoinDesk that a unidirectional connection links its wallet directly to the blockchain, where it transfers assets as conventional wallets do. Continue reading