After hack attacks such as the DAO hack situation, crypto investors and traders are more concerned than ever with the security of their digital assets, as the risk of potential hacks still haunts people’s minds.
In this sense, new projects are developing innovative high-tech based solutions to deliver high standard security services for digital assets. Curv is a cloud-based wallet that promises customers full protection and autonomy over all types of digital assets, empowered by a revolutionary cryptography solution.
A Quick Story About Curv
The best thing about the blockchain is that it makes information and assets transfer more democratic, allowing anyone to participate no matter who they are or where they are. Transactions done within the blockchain are irreversible, given the code-based structure of public-key cryptography.
Despite being better than traditional API’s and other financial systems out there, public-key cryptography still has a single point of failure, which is private keys. A private key is essentially what grants a crypto assets holder the ownership of these funds on a specific address.
Curv eliminates the use of private keys, offering a reliable and distributed way to sign transactions, and manage digital assets.
How Does Curv Work?
Curv is a cloud-based wallet for digital assets, providing a keyless “bullet-proof” cryptography system to secure customers’ funds.
By using their unique expertise on cryptography and cloud security, they were able to come up with a keyless cryptographic security system, using MPC (multi-party computation) protocols to enable transactions to be signed in a mathematically-proven distributed manner. The platform’s services also include the setup and management of the blockchain structure itself.
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The idea had a huge impact on the crypto scene instantly, as now there is officially a cloud-based institutional wallet to protect digital assets from potential attacks such as cyber breaches, insider collusions, and overall digital piracy.
The platform supports a vast range of different chains and tokens, with a list of 200 plus supported coins including all ERC20 tokens plus other well-known cryptocurrencies such as Bitcoin (BTC), Litecoin (LTC), Bitcoin Cash (BCH), Stellar Lumens (XLM), EOS, XRP, and Bitcoin SV (BSV). It gives support to all ECSDA and EdDSA blockchain as well.
The purpose of such a wide range of supported cryptocurrencies is to make it easier for institutions to manage their digital assets, providing an essential tool enriched by remarkable customer experience.
Customers have complete control over important decisions concerning risk profiles and transactions, all made possible by a unique accountability system.
Curv uses an enterprise-grade policy engine to allow its users to define risk profiles and enforce specific policies to ensure that only authorized transactions are allowed. It means that the customers have the final word on who can and who cannot do exactly what.
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The system uses granular policies to make it happen, which means these policies can be configured and assigned to specific users, to enforce a stricter security control by double-checking transactions.
Curv also has a remarkable democratic coverage over pretty much any type of asset or blockchain available. It does not require the native support of a specific blockchain to work, as the MPC system enables it to support multiple tokens and protocols at the same time.
Security is King
One year ago, Curv partnered efforts with Munich Re. For those who are unaware, Munich Re is a leading global provider of reinsurance, primary insurance, and insurance-related risk solutions, with more than five thousand clients in 160 countries worldwide.
The deal was signed between the two, granting coverage of $50 million to secure all the digital assets under Curv’s wings. The insurance is meant to cover any hacks or even potential malicious behaving by Curv’s staff itself.
This huge partnership crowned a successful capital round led by Team8 and Digital Currency Group, where Curv raised $6.5m.
Who Is Behind the Idea?
Founded by Itay Malinger (current CEO) and Dan Yadlin (current CTO), Curv is headquartered in New York with R&D offices in Tel-Aviv (Israel).
Malinger has over 15 years of experience in cybersecurity in both the public and private sectors, which includes the Israel Defense Prize award for his leadership role in a groundbreaking technological endeavor.
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Yadlin has over 10 years of experience in engineering and leadership positions in the Israeli government, executing on the core cyber missions of the Israeli defense community
The company is trusted by leading players in the industry, including Etoro, Genesis, Hehmeyer Crypto, Korbit, SwissBorg, Bitbond, Coinhouse, and Franklin Templeton Investments.
Conclusion
The pioneer of cloud-based institutional security for digital assets, Curv offers an MPC (Multi-Party Computation) based wallet solution that eliminates private keys out of the process, hence eliminating potential blockchain flaws. It offers a unique service by providing customers with a simple distributed way to sign transactions, protecting the assets from all potential risks involved with the blockchain.
Curv has a wide range of supported cryptocurrencies, across several blockchains.
To offer full security and accountability, the platform partnered with the German giant Munich Re, to provide total insurance over digital assets deposited under the company’s trust.