As a result of the improving technology, we now have a lot of hackers who through unauthorized means have bypassed the security mechanisms of an information system, and unfortunately, many steemians have fallen prey to it. While a lot lost their crypto and were lucky enough to recover their accounts, others were not.
Luckily, the introduction of new storage system, Goldilock which is useful in storing sensitive digital data and also to store cryptocurrency is the solution to this as it provides a lot of opportunities to create applications which are more efficient for reliability and safety with the introduction of not the hot or cold storage, but the right one.
How would it change the manner in which people handle their important digital data?
A lot of people are faced with the burden of keeping their wallets safe because of the many hacks in the crypto currency, but with Goldilock, their devices which is where sensitive data are being stored would be disconnected, and they would no longer be scared of keeping it on their own.
This means people would not face any stress when they want to travel since they would not be at risk to loss all their cryptocurrency and sensitive information and in place of this, they would be able to store their data safely and have access to it anytime and wherever he needs it, with the knowledge that the wallet would not be tampered with by hackers.
What are the benefits of combining the best of cold and hot storage?
Hot and cold storage solutions have proven ill-suited for securing cryptocurrency wallets of individuals as using them could lead to hacking.
The best thing is combining the two types of storage with the data offline when users are not using it and the data would be online when it is needed.
This way users would be able to have access to their data whenever they need it without being vulnerable to hacking attacks which would make their data more secure and also assume privacy, then companies would be able to have access to the cost effective method of storage.
Mass adoption would be encouraged if there is improved security and access as studies has shown that the reason a lot of people don't want to adopt the use of cryptocurrency is because they are scared of bring attacked by hackers and also being the victims of other cyber crimes.
Concerning the issue of acceptability, it has prevented a lot of people from adopting it since it cannot be available anytime from anywhere. Since this has been corrected by Goldilock, it is very likely the mass would begin to adopt it.
Two cases of the before and after of the adoption of Goldilocks
First case
Tony, a movie producer just invested all his savings into producing a blockbuster, but unfortunately, after an unauthorized distribution of his movie, he runs bankrupt.
With the use of Goldilocks in his next movie, while allowing for a faster distribution, his team would be able to control those who receive and sends the movie.
Second case
Before travelling, Kelly is scared of taking his sensitive document to prevent any case of theft. With the use of Goldilocks, he can leave everything behind with the assurance that everything would be secure.
The benefit of keeping the data offline using airgap
The security benefit of keeping the data offline using airgap technique is that through the airgap technique, the wallet cannot be accessible to the internet as it is being stored offline and the users cab use a dedicated URL to access the credentials and activate their account using a non IP mechanism.
Goldilock opted for Neo as their platform of choice because apart from the fact that it is recognised by the governments and many enterprises, it has a superior consensus mechanism, a regulatory compliance and the rate of its transaction is quick. This, added to the fact that its ecosystem identifies with that of Goldilock are the reasons why Goldilock opted for it.
Financial institutions can benefit from integrating this technology to their existing systems by their adoption of Goldilocks and the combination of hot and cold storage.
Goldilock 2018
The picture is gotten from Goldilock white paper, page 5