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SECURE DIGITAL ASSET KEY STORAGE AND TRANSACTIONS FOR CRYPTO EXCHANGES

With Securosys, cryptocurrency private keys are not only securely saved in a tamper-proof hardware with restricted access; the operations with the keys  can be made subject to authorization involving multiple people, teams, time restriction and delays. This way, Securosys provides the best security for crypto asset key storage and transactions by using multi-dimensional key authorization mechanisms (Smart Key Attributes) enforced by the HSM (Hardware Security Module).

Enterprise challenge to store crypto assets

Storing Crypto Assets is not really a challenge if you are a private person. As an enterprise, the challenge to hold and transact with millions of dollars’ worth of crypto currencies for thousands of clients is real and difficult to solve. Offline, air gapped and other traditional cold storage solutions may be safe but come with significant drawbacks in terms of usability and operability, not even mentioning the complexity at scale.

An enterprise level crypto-custody and liquidity management solution must scale to hundreds – and potentially millions – of users without compromising on the security. Such a solution must offer more than just a simple access restriction to the key. It must ensure security of the asset private keys even if the infrastructure or application is compromised.

Solution

Our solution combines tamper-proof hardware protection of the keys and authorization rules restricting operations with the keys. The tamper-protection makes it practically impossible for anyone to gain physical access to the keys and the true hardware entropy prevents any brute-force attack on the keys. The security leadership can focus on authorization procedures for the key operations, for which we provide multi-authorization capability protected by the same secure container as the keys themselves.

The multi-authorization using the Smart Key Attributes (SKA) allows for fine-grained transaction authorization rules. The rules can be defined to match simple and the most complicated compliance policies alike, way beyond what Blockchain multi-sig offers and it can apply the rules across all types of assets, not only those supporting multi-sig. Moreover, any action is recorded in an auditable log.

Cold-Warm-Hot

The HSMs are configurable in ways, which make them usable for cold storage, warm wallet and hot wallet use-cases. Future firmware releases will introduce functionality allowing further automation of the liquidity management between these storages without compromising on the security.

Benefits of our hardware-based solution

Some of the benefits include:

  • Hardware
    Tamper proof protection
    True hardware entropy
  • Storage
    Multi-tenant, georedundant
    Backed-up by design
  • Cryptocurrency specific functionality
    BIP32
    Quantum-proof address export
  • Authorization
    Multi-dimensional quorums
    Timelocks and timeouts

By implementing Securosys Smart Key Attributes technology in their solution, holders and custodians of digital assets can achieve higher security and strictly separate digital key management and transaction authorization from the business application, thus protecting against hacking attempts and malicious malware.

Interested in the Use Cases for Smart Key Attributes?

Download the Solution Paper here