Blockdaemon Blog

How to Make Your Digital Wallet Both Secure and Accessible

Daemon News
Sep 21, 2022

Historically, you’ve had a choice; your digital assets could be optimized for security or accessibility, not both.

As you add measures to secure your assets, they become harder to access. On the other hand, the more steps you take to make your assets accessible, the more vulnerable they are to attacks or mistakes. Prime examples are hot wallets which are fully accessible but not very secure, and cold wallets, which are very secure but not very accessible and often require rigorous processes to gain access.

Book a call for your very own demo of the Blockdaemon Wallet™, or read on to get a closer look at what’s new.

Typically, cold wallets require advanced measures of physical security, controlled physical access, and multiparty ceremonies. This all adds up to hours or even days of delay before you can access your digital assets.The conflicting forces of security and accessibility become increasingly problematic as markets become more dynamic. Access delays can translate into major losses or missed opportunities.

Fortunately, there is a solution. You no longer have to make this compromise.

How the Advanced MPC Wallet Can Solve Your Security vs. Accessibility Problem?

Our Advanced MPC (multi party computation) Wallet provides both security and accessibility.

It is a next-generation institutional wallet for both custody and non-custody applications. It provides the highest levels of security while allowing you to hold more of your assets online for instant access. If you need to store non-liquid assets offline, you still can.

However, the Advanced MPC Wallet’s maximized security measures provide an ideal solution to maintain a much higher percentage of your assets online for instant accessibility.

What’s Unique About the Advanced MPC Wallet

The Advanced MPC Wallet provides an unrivaled level of security and accessibility.

The wallet is available in a form that is most suitable for you, whether that means hosting on-premises, private cloud, or public cloud, to ensure you have 100% control. The Advanced MPC wallet provides robust market-leading security.

That, along with its self-hosted nature, is defining the future of secure and accessible digital wallet asset technology.

Top 4 Security Features You Need To Know About

The Advanced MPC wallet is the most trusted solution for your wallet security and accessibility problem.

To understand why, take a look at our top 4 security features and how they enable ease of accessibility.

1. The Advanced MPC Wallet protects against key theft or misuse

The Advanced MPC wallet mitigates against key theft by ensuring a complete key is never stored or known to any single machine or party. This eliminates the risk of any single party becoming corrupt, extorted, or exploited to enable fraudulent use of the key.

2. The Advanced MPC Wallet creates and enforces policies that must be satisfied before a transaction can be signed and executed

The Advanced MPC Wallet policy engine provides a systematic framework for defining and enforcing policies that must be satisfied before the AMPC key shares can be used to generate a signed transaction. These can include quorums, checklists, operational controls, and conditional controls.

3. The Advanced MPC Wallet PolicyProtect binds policies to each MPC key share

Even the most advanced wallets are susceptible to hackers or malicious insiders. Someone could theoretically gain access to and modify the policies in a manner that allows transactions to get signed that should not have been approved.

PolicyProtect is an industry-first solution and uses MPC tech to solve this problem, binding policies to each MPC key share to eliminate another historic single point of failure.

4. The Advanced MPC Wallet features multi-factor authentication

Malicious third-party access is a significant security risk.

Once inside the system, they could initiate or approve a fraudulent transaction. The Advanced MPC wallet combats this with multi-factor authentication technology. The Advanced MPC wallet enforces multi-factor authentication by having approvers and admins authenticate by signing in separately. Each with their own mobile device, entering a 4-digit PIN, and completing a biometric authentication such as fingerprint or face detection.

Individually, these measures provide state-of-the-art digital asset wallet security and authentication. Collectively, they represent the industry’s most advanced digital asset wallet security for a digital asset wallet.

This level of security allows your keys to be stored securely and accessible online.Maximize your wallet security and accessibility today. Visit the Advanced MPC wallet page to learn more.


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