Cypherock is the World’s first offline data storage device that secures your digital assets without a single point of failure. We are currently focusing on securing Crypto, but it can be used to secure any other digital assets like DevOps keys etc.
At the top of the 2017 bull market, I found that one of my friends couldn't recover his seed phrase written on a piece of paper due to an unfortunate house fire. Around the same time, my college friend had kept his seed phrase as a screenshot which got lost when the phone was corrupted. That's when we realized the need for a solution that caters to both data loss & theft problems simultaneously.
It's said that your security is only as good as your weakest link. After talking to hundreds of wallet users, we realized securing wallet backup on a piece of paper is the weakest link of Crypto security. It exposes your keys in plain sight, becomes a single point of failure, is prone to environmental damages & faces from inheritance issues.
This gave birth to Cypherock. Using Shamir’s Secret Sharing, we split the seed phrase into 4 shards which are stored in the 4 EAL 6+ Smart Cards (cyCards) protected by a PIN. The 4 cyCards can be kept in different remote locations. In case you need to recover your digital assets, you need to fetch any 2 out of the 4 cyCards & enter the PIN that you had set earlier.
Currently, we are open for pre-orders. We will also have a digital assets inheritance app that works with the product to allow the transfer of assets like your passwords etc. without compromising on privacy & control. Unlike cloud-based solutions which almost never work because you have to trust them with your digital assets, this will be a decentralized service. More on this soon!
We aim to bring the same peace of mind in securing digital assets that the World currently feels with physical assets. Looking to get feedback from HN about the product.
Every wallet is physically hackable, that is why we are building Cypherock where we introduce a second variable that is locations using Shamir Secret Sharing on the private keys. I would love to have the opinion from the community on it - https://cypherock.com.
The game is never to target the big teams. But make the development leaner for coming generation and smaller teams that they basically own the complete idea. This dependency play is what Google always does. Create the infrastructure, let others do the hardwork. Though I am skeptical too of the efficiency of the tradeoffs.