Gridlock offers a distributed cryptocurrency wallet that utilizes Threshold Signature cryptography to enhance security and control over digital assets. The platform addresses the risk of loss by enabling users to store crypto across multiple devices and recover access through a network of trusted Guardians.
Funding
$3M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Traditional cryptocurrency wallets often rely on single-key security, creating a single point of failure that can lead to loss of funds due to private key compromise or loss. Managing and securing private keys can be complex and risky for individual users, hindering wider adoption of cryptocurrencies.
Solution
Gridlock provides a distributed cryptocurrency wallet employing Threshold Signature Scheme (TSS) cryptography to enhance security and control over digital assets. The platform distributes the private key across multiple devices, eliminating the single point of failure associated with traditional wallets. Users can recover access to their funds through a network of trusted Guardians, providing a social recovery mechanism. This approach simplifies key management while ensuring that users maintain sole control over their crypto assets.
Target Audience
The primary target audience includes cryptocurrency users seeking a more secure and user-friendly wallet solution, particularly those concerned about the risks associated with traditional single-key wallets and private key management.
Features
- Distributed key storage across multiple devices using Threshold Signature Scheme (TSS) cryptography
- Social recovery mechanism enabling fund recovery through a network of trusted Guardians
- Multi-chain support for storing various cryptocurrencies and NFTs in one place
- User-friendly interface for buying, storing, and using crypto assets