(Rejected) Ngrave Rolls Out Physical Encrypted Private Key Backup

The safety of cryptocurrencies remains one of the volatile topics in today’s blockchain world. The safety of cryptocurrencies is as volatile as the assets itself and several options exist for storing and safeguarding digital assets. In the recent launch of crypto security hardware options, Ngrave announced the launch of its NGRAVE GRAPHENE key backup. The Ngrave Graphene key backup is a physical encrypted private key backup with two complete key splits that are meaningless without each other. 

Ngrave’s Superior Backup Offering

Ngrave graphene employs cryptographic tools like EAL7 with a functional partnership with COSIC and IMEC. These two research outfits are actively involved in the development of industrial cryptography and nanoelectronics respectively. With the technology provided, Ngrave is thus able to create its reliable security features. 

Ngrave graphene is built with a “cryptographic puzzle”. The puzzle consists of two plates that contain the owner’s secret key with values on the plate arranged differently for each customer. Both plates are required to recover the key. 

Commenting on the durability of Graphene, co-founder and CEO of Ngrave, Ruben Merre said:

“For one, it removes the durability issue of paper wallets or even of electronic backups that can degrade or stop functioning over time. The Graphene is a durable solution made out of stainless steel, so it can withstand a house fire and other extreme circumstances. Also, it removes the ‘single-point-of-failure’ issue of existing metal wallets.”

Benefits for Crypto Investors

With numerous cold wallets backups around, the uniqueness of Graphene as described by the company lies in its alleged indestructibility. With this, digital asset holders can have confidence in the ability of their device to help store, manage, and safeguard their assets. The device also aids easy recovery of private keys in the case of loss.

Every innovation to limit the theft in the blockchain ecosystem is a step in the right direction.