In the rapidly evolving world of Web3, the security of digital assets is more crucial than ever. While traditional solutions often focus on protecting what are considered “high-value” assets—investment assets, like cryptocurrencies, NFTs—many other assets are vulnerable to theft or loss because developers may not see the value in implementing protections around them.
Indeed, a lot of focus has been placed on high-dollar losses. Researchers have cited that stolen crypto assets doubled in just the first half of 2024—to $1.38 Billion, up from $657M in the first half of 2023.1 But where does this leave assets that don’t get as much attention, like gaming assets or other non-currency tokenized transactions? While the dollar-cost of a legendary sword may pale in comparison to an investment in monkey artwork, does that make it of any less value to the dedicated gamer that spent several hours grinding to earn it?
At Bolt Labs, we believe there’s no such thing as a “low-value” digital asset. That’s why we’ve developed Lock-Keeper—a next-generation digital asset management system designed to enable developers of all abilities to protect every asset, big or small.
The Problem with Current Solutions
Most current digital asset security solutions are complex and resource-heavy. This complexity means they are often only implemented for assets considered high-value, leaving many other assets unprotected. This oversight can expose users to significant risks, especially in the burgeoning ecosystems of gaming and tokenized assets that define Web3.
The Lock-Keeper Solution
Lock-Keeper from Bolt Labs bridges the gap between complex cryptography and everyday transactions. Our SaaS infrastructure offers a flexible, extensible, and easy-to-implement solution, making it accessible to both developers and end users without requiring a degree in cryptography.
Here’s how Lock-Keeper works:
Advanced Cryptographic Techniques:
Key operations are performed in a highly isolated Secure Enclave built on AWS Nitro, making sure that plaintext key material never leaves the enclave.
Keys are split into three “shards” and stored on separate key servers, providing robust security through geographic redundancy. This ensures that precious keys are never exposed.
Extensible Schemes:
And it doesn’t end there. Lock-Keeper’s modular design infrastructure allows for easy customization to meet evolving needs. This means developers don’t need to “re-roll” their crypto or rip-and-replace components in their projects.
As Bolt Labs adds new cryptography schemes, like the upcoming Multi-Party Computation (MPC) implementation, developers automatically and transparently can apply the new technologies without ripping and replacing infrastructure or code.
Flexible Policies and Access Control:
End users can control the use of their keys with precision, while service providers can implement additional authentication measures like biometric or PIN-based verification. And because the keys are shared between custodians, no single party maintains full custody over the keys, meaning developers and users can make joint decisions over the transfer, use, or any other transaction concerning the asset behind the key.
Robust and Scalable Infrastructure:
With Lock-Keeper’s infrastructure, key shards are stored on geographically redundant servers, ensuring availability and resilience. The architecture guarantees that keys are persistent and available for permitted uses, such as signing compliant transactions. Plus, Lock-Keeper guarantees the integrity of signing keys, protecting them from tampering with attestation.
Why Choose Lock-Keeper?
With the rise of the Web3 ecosystem, protecting all types of digital assets is no longer optional. As gaming and tokenized assets continue to grow, the need for comprehensive and accessible security solutions becomes increasingly critical. Lock-Keeper offers a user-friendly approach to digital asset management, ensuring that all assets, regardless of perceived value, are protected with the highest standards of security.
At Bolt Labs, our mission is to build a usable, secure, and scalable infrastructure that empowers everyone to securely store and use their digital assets. Lock-Keeper is our flagship product, designed to make advanced cryptographic security accessible to all.
Learn more about how Lock-Keeper can protect your digital assets by reading our recent white paper or contacting us for a demo.
- https://www.cnbc.com/2024/07/09/hackers-stole-twice-as-much-crypto-in-the-first-half-of-2024.html ↩︎