Belgium-based digital security company NGRAVE is currently developing what could potentially be the world’s most secure cryptocurrency hardware wallet. The NGRAVE ZERO wallet, along with its accessories, offers a powerful and user-friendly solution for securing digital assets. The project has gained significant support through an Indiegogo campaign, raising over €220,000 ($242,000) by selling close to 750 wallets, surpassing the initial target of 100 units.
Coinfomania recently interviewed Ruben Merre, Co-Founder and CEO of NGRAVE, to discuss the unique features of the NGRAVE ZERO wallet and why it is known as the “coldest wallet.” The wallet is the first crypto-related product to be built with firmware that has earned the highest security certification in the world, EAL7. It also offers an encrypted and recoverable private key backup solution called GRAPHENE.
Merre explained that existing hardware wallets have potential security risks and limitations, such as the risk associated with the private key or seed generation process and the challenges of recovering lost private keys stored on paper. NGRAVE addresses these issues by incorporating external factors like biometrics and ambient light into the key generation process. The wallet also ensures that the wallet provider does not know the value of the key through an intuitive user interaction process.
To pilot a recoverable private key solution, NGRAVE developed GRAPHENE, which consists of two separate plates that, when overlaid, reveal the private key. If one of the plates is lost, the user can still recover the key from NGRAVE’s offline database. This approach also solves the problem of transferring crypto assets in the event of death.
Unlike other hardware wallets, the NGRAVE ZERO wallet features a 4-inch screen and an intuitive mobile app called Liquid. The app communicates with the wallet using QR codes, ensuring 100% offline communication and protection against hackers.
NGRAVE’s new hardware wallet has gained support from notable figures in the crypto industry, including Michael Terpin and Jean-Jacques Quisquater. Merre expressed his gratitude for their backing, stating that it motivates the team and validates their work.
NGRAVE was founded with the vision of addressing the security and usability challenges in the crypto space. The team aims to foster blockchain adoption by providing an end-to-end solution that ensures the highest level of security.
Merre shared his journey into the crypto industry, stating that he became involved during the bull run in 2017 after recognizing the technology’s future potential. He had previously encountered crypto in 2015 but had been hesitant due to the difficulty of evaluating its intrinsic value. Merre believes that Bitcoin is still in its early stages and that its potential as a store of value could become a self-fulfilling prophecy. He highlighted Bitcoin’s deflationary nature and the increasing interest in it as an alternative to hyperinflation in some countries.
In conclusion, NGRAVE is developing an innovative hardware wallet that addresses the security risks and limitations of existing solutions. With its unique features and strong industry backing, NGRAVE aims to revolutionize the way digital assets are secured and contribute to the adoption of blockchain technology.
