First and foremost, what is Goldilock? It is a new form of security system based on the blockchain network that acts as an external/offline storage immediately after the owner of the data or fund is done, using it. That is why the project developers uses this slogan to define their aim:
Not hot storage
Not cold storage
Just the right storage
This implies that the datum are only accessible to the owner when they are in need of it, and is dependent on a limited time of accessibility. As soon as it reaches this limited time, an airgap in connection occur so as to keep the informations, data or funds secure from hack threats.
This blockchain project came to be on seeing the unsecured way people store their vital informations. Many uses the cold storage thinking it is the most secured way to get protected not knowing it still has many disadvantages attached to it. How about the hot storage system which suggests informations/data to stored online? This only attracts more hackers to be interested in your funds.
How Goldilock Will Change The Way People Handle Their Sensitive Digital Data
This firm is simply trying to implement a new type of storage system that will make people to be rest assured that their data are well secured. In this case, no body will worry about adding more security measures such as, watching over exchanges where they kept their funds from time to time (hot storage) neither do they have to worry about watching over the external tool in which they kept their funds (cold storage). Goldilock keeps the owners mind at peace. That is exactly the way how people will start handling their sensitive digital data.
The Benefits Of Combining The Best Of Cold And Hot Storage
There are lot of outstanding benefits attached to using this new blockchain projects that aims to restore the storage system. The combination of both storage systems(cold and hot) makes sure to secure the users data/informations such as the private keys, mnemonic phrase e.t.c from hackers. The answer to this very question is found in a statement written in the projects whitepaper:
With Goldilock, the security of offline data has been combined
with the convenience of online accessibility. Goldilock is online
when you need it, offline when you don’t, and available anytime
from anywhere.
How Can Improved Cryptocurrency Security And Access Impact Mass Adoption?
Firstly, I would like to point out 2 new terms used in this context.
The first one is "Improved Cryptocurrency Security System" while the second one is "Unimproved Cryptocurrency Security System".
Let's take the first one(improved) to be Goldilock cryptocurrency security system and the second one as "other cryptocurrency security system(i.e the hot and cold storage systems).
Recalling the question above states thus:
"How Can Goldilock bring about mass adoption to the cryptocurrency world? Now, this should be very easy to understand.
From my personal experience in this industry coupled with the research I made on this project, I was made to understand that, one needed to be proficient in the use of computer technology before he or she can find it worthy to participate in blockchain activities.
This statement is clearly stated in the projects' review.
users must be tech-savvy, and is not conducive to mass adoption.
This implies that mass adoption is extensively needed in order to take the project to a greater heights and that, can as well be achieved if a better means of security that allows non tech-savvy individuals to participate in blockchain activities. Goldilock project is gradually working towards making security as simple as anything, one do not need to worry about being proficient in computer technology again, by this mass adoption will only be the starting point.
The Security Benefit Of Keeping The Data Offline Using "Airgap" Technology
This ideology taken up by the projects developers is just the perfect security measure we have been waiting for, in the blockchain industry. It has so many amazing and interesting benefits that are too many to be mentioned. One of the major benefit is:
"Airgaps" physically isolates a computer or local network of computers from the Internet. (The name comes from the literal gap of air between the computer and the Internet; the word predates wireless networks.)
Since we know that computers connected to the Internet are vulnerable to outside hacking, an air gap should protect against those attacks. There are a lot of systems that use, or should use air gaps: classified military networks, nuclear power plant controls, medical equipment, avionics, and so on.
Why Goldilock Chose To Build On The NEO Platform
The main reason why Goldilock had to go into partnership with NEO is because the two projects share some significant features that would yield the best result of brought together.
In combining digital assets, digital identity, and smart contracts, NEO plans to build a secure blockchain
that is recognized by enterprises and governments, which is core to Goldilock’s guiding premises
The similar goals the two different projects aims to achieve has succeeded in bringing both together, so as to achieve this goal in a faster, easier and convenient way.
How The Banking Sectors And Other Institutions Benefit From Integrating Goldilock Technology To Their Existing System
It is more advantageous to all parties involved who uses or wishes to use Goldilock storage system as it ensures a greater security solutions for their private cryptocurrency keys than currently available from third-party hot wallets and cloud-based data storage providers.
Goldilock also gives consumer's online access to their private keys anywhere, anytime with an increased level of security which provides a limited time for the consumer to access the file to prevent a hack cases that may occur in the future. Due to this reason, I would prefer to give this project this slogan.
prevention is far much better than cure project
Goldilock uses an ideal form of on-demand storage security system to grant the health, financial and crypto industries access to their data stored using the platform.
References Source
https://steemit.com/crypto/@originalworks/810-steem-sponsored-writing-contest-goldilock
https://www.schneier.com/blog/archives/2013/10/air_gaps.html
For more info:
Goldilock website
Goldilock whitepaper
Goldilock Tokenomics
Goldilock Telegram
Goldilock Facebook
Goldilock Twitter
Goldilock Discord
Goldilock2018
https://twitter.com/Caesar816/status/1026967377177657345?s=19
- Caesar816
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