Crypto storage

Instead Of Using The Cloud For Sensitive Data Storage, Blockchain Is A Safer Alternative

Instead Of Using The Cloud For Sensitive Data Storage, Blockchain Is A Safer Alternative

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In an ideal world, we wouldn’t store any sensitive data in the cloud. Despite all of the claims around strong security, the cloud will never be as safe as storing something on your own, encrypted hardware device. However, the reality is that we now live in a multi-device world and we can’t and don’t bring the same device with us everywhere we go. Using the cloud, it’s possible to conveniently access your sensitive data from any location or device. 

As such, lots of people tend to store sensitive information including their passwords and health records online, where it can easily be exposed. 

One of the dangers of cloud storage is that your account could easily be hacked. With cloud storage, data is stored on centralized servers belonging to companies such as Microsoft, Google, Box, or Dropbox. As such, it’s vulnerable to all kinds of risks, including data breaches and unauthorized access by hackers or rogue employees. 

Blockchain Storage For Everything

Luckily, recent innovations in the crypto sphere mean that there is now a superior, blockchain-based cloud storage solution. With the recent launch of Serenity Shield’s StrongBox dApp on the mainnet, consumers and businesses alike have a more robust storage solution that can be used to protect almost any kind of digital asset. The service can be used to safely store PDF files, Word documents, audio, video, and image files, as well as digital assets such as cryptocurrency and NFTs. With so many applications, it promises to be a game-changer for numerous industries where secure data storage is a paramount concern, including the healthcare, financial services and legal sectors. 

With StrongBox, users can access a decentralized storage solution that guards against tampering and enables user-controlled access, as well as an inheritance feature that allows stored assets to be safely transferred to an heir, without any risk. It represents the shift to a safer, cloud 3.0 model that sees data encrypted and distributed across multiple servers, so it’s never held in a single, vulnerable location.  

Innovation In Data Access

To access StrongBox, users must link a wallet and follow the steps to create an account. Once done, they can then add sensitive data such as their crypto seed phrases, private keys, passwords, health information or anything else that needs the highest level of protection. 

The solution employs high-grade HKDF-SHA256 encryption, with data stored and encrypted using smart contracts that reside on the Secret Network, a specially designed Layer-1 blockchain. For the uninitiated, blockchain is a distributed ledger stored on many independent nodes scattered around the globe. The smart contract governs access to the data held within the StrongBox and handles specific release conditions that can be set up by the owner, including the rules for activation by their designated heir. 

Perhaps the most innovative aspect of Serenity Shield’s StrongBox is its use of NFTs. The private viewing key required to access the data within StrongBox is fragmented and split into three NFTs, which serve as access keys. To open the StrongBox, the user must use two of the three keys. One of the NFTs will go to the owner, while the second can either go to their nominee or simply be disregarded if the user doesn’t wish to designate any. The final NFT is held within the StrongBox’s smart contracts, which Hacken has fully audited. 

In the event that an heir is nominated, they’ll receive the second NFT and the account owner can then create the activation conditions for that NFT, based on a lack of activity or their failure to send a regular active “ping” to the smart contract. Should these conditions be met, the heir can then access the second NFT and use this to open the StrongBox.  

Versatile, Accessible & Safe Storage Anywhere

With StrongBox, regular users get up to 1 petabyte of storage space, which makes it ideal for both consumers and businesses. It provides a viable and safer alternative to cloud 2.0 storage, eliminating the need for firewalls, cybersecurity, backups and most importantly, trust.  

Although it was built on Secret Network, StrongBox is actually a multichain solution, compatible with many leading blockchain networks. Together with its hardware independence, this makes StrongBox as versatile and accessible as any traditional cloud storage service. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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