from Hacker News

Looking for input on new crypto storage product

by DerekRodriguez on 3/3/21, 3:05 PM with 3 comments

For the past six months, I’ve been working with a few other developers building a safe new way to store cryptocurrency. Our goal is to make personal crypto storage easy and secure while maintaining full control of assets at all times.

The secret is using multiple storage devices rather than just one. You do this by creating a network of friends and family to help protect your crypto. This network allows you to protect your stored assets from both loss and theft since any single device is not enough to access held assets.

We are releasing soon and want to make sure we are building the best product possible. Do you think this will be useful? What features do you want to see included?

Explainer video - https://www.youtube.com/watch?v=nlJbA1KRePw&t=1s

Check our website - https://hi.gridlock.network/input

Chat with us on Discord - https://discord.com/invite/ssmstTSNWJ

  • by quickthrower2 on 3/3/21, 8:34 PM

    Hi from what you wrote (didn’t watch the video) it sounds a lot like keys.casa and I think it’s good to have more competition in this space.

    I think it’s very useful to have solutions like this especially if there is a security scale based on if you are storing 100, 10000 or 1M+ dollars. Personal and corporate requirement might be different but I am guessing you’d focus on personal.

    For larger amounts people want to think about if their possibly less technical relatives inheriting their estate can access the funds after their death.

  • by kleer001 on 3/4/21, 5:50 PM

    Interesting. I'm always happy to see innovation in crypto space. Here's some questions off the top of my head:

    Who is your target demographic?

    How is this better than a paper wallet?

    What happens if Gridlock disappears?

    Do you have plans for a security audit?

    Where's the code? Is this going to be open sourced?

    How are you going to make money?

    Who are your direct or close-enough competitors? I think Tresor does MofN Multisig wallets.