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Regional BitAngels lead and NGRAVE CEO Ruben Merre announces 26 May as official launch date for “The Coldest Wallet”
Brussels/San Francisco, April 28, 2020 (GLOBE NEWSWIRE) — (via Blockchain Wire) Digital asset security company NGRAVE (https://www.ngrave.io/) today announced its flagship product NGRAVE ZERO, the world’s most secure crypto hardware wallet. NGRAVE ZERO was developed in collaboration with world leaders in applied industrial cryptography, nanoelectronics, and chip manufacturing, and is made in Belgium to ensure the highest level of quality. Wallets are already in production phase and will be available for purchase starting May 26, 2020, and shipping in October 2020.
Intending to make digital asset ownership more accessible and secure to all, NGRAVE received funding from the Flemish Government, the European Commission, and the Web3 Foundation, along with private investments to develop its fully offline hardware wallet. NGRAVE ZERO uses the most advanced cryptographic protocols along with firmware that has earned the highest security certification in the world, EAL7. Whereas competing hardware wallets like Ledger and Trezor rely on a USB connection or Bluetooth, NGRAVE removes the need for any connection (USB, WiFi, 4G, Bluetooth, NFC), instead using wall charging and QR codes to remain fully air gapped even while conducting transactions and creating accounts. All of these features are packaged in a design-focused user interface with a 4-inch touchscreen.
To conceptualize and develop these security features, NGRAVE partnered with Imec, a world leading Research & Development hub for nanoelectronics and chip manufacturing, and COSIC, a leading research group for applied industrial cryptography, known for a.o. hacking Tesla vehicles.
“Millions of dollars in digital assets are stolen every single day. Cryptocurrency theft topped $2.5 billion in 2018 and an astounding $4.3 billion last year,” said Ruben Merre, Co-Founder and CEO of NGRAVE. “That’s the reason we built NGRAVE. It’s our mission to enable users to take secure ownership and control of their digital assets.” Merre is also the regional lead for BitAngels in the Benelux (Belgium, the Netherlands, and Luxembourg) and sees NGRAVE as “an important player to remove security as one of the largest adoption hurdles for blockchain technology,” while “fostering ecosystem growth by connecting promising projects with investors through the BitAngels network.”
NGRAVE Co-Founder and CTO Xavier Hendrickx first became acutely aware of crypto’s security pitfalls in 2014 as a victim of the infamous Mt. Gox hack, in which 850,000 bitcoins (valued at $450 million at the time and worth over $3 billion at today’s prices) were stolen from the exchange. Later as a blockchain developer at Swarm City in 2017, he was one of the first to notice the Parity Hack which resulted in 44,000 ETH ($10 million) stolen from the company. This time around, different teams put their heads together, figured out the vulnerabilities that led to the hack, and the ethical hacking team saved 500 projects and over $200 million from suffering the same fate. In the aftermath, Hendrickx became CTO of SwarmCity. Realizing the need to focus on the fight for better security in crypto, Hendrickx soon joined forces with co-founders Ruben Merre and Edouard Vanham to launch NGRAVE in 2018.
Launching alongside the ZERO wallet is NGRAVE GRAPHENE, the first recoverable backup in the industry. Replacing antiquated paper wallets, GRAPHENE is a cryptographic puzzle consisting of two durable stainless steel plates and fully resistant to shocks, rain, fire, and other damage.
The company’s end-to-end solution also features NGRAVE LIQUID, a mobile app that syncs all generated accounts from each hardware wallet. This allows each user to easily consult real-time balances or ask to receive transactions. Communication between the NGRAVE ZERO and the NGRAVE LIQUID app occurs through QR codes. This way, the app never has access to the ZERO’s secret keys, protecting users from any online attack vectors.
“With NGRAVE ZERO, we zoomed in on every detail of the user journey, upgrading security features and the user experience along the way,” said Edouard Vanham, Co-Founder and COO of NGRAVE. “With this end-to-end, consumer-focused approach, we’ve developed the most secure and intuitive cryptocurrency hardware wallet in the world. We hope to spread the word that a better solution exists, and that NGRAVE can make crypto more accessible and trustworthy on a massive scale.”
NGRAVE will support over 20 coins in its first-shipped devices including Bitcoin, Ethereum (and ERC20 tokens), Ripple, Bitcoin Cash, Litecoin, EOS, Tether, Binance Coin, Tezos, ChainLink, Stellar, TRON, Ethereum Classic, NEO, Dash, Maker, Zcash, USD Coin, Basic Attention Token, Dogecoin, Bitcoin Gold, 0x, OmiseGO, Augur, Bitcoin Diamond, TrueUSD, Enjin Coin, Dai, DigixDAO, DigiByte, Aeternity, Golem, Status, Celsius Network, iExec RLC, Groestlcoin, and Kusama. The wallet was developed to simplify the integration process, so that additional cryptocurrencies can be easily added in the future.
NGRAVE wallets will be available for purchase via Indiegogo on May 26, 2020. NGRAVE’s Indiegogo campaign will support production to meet global demand, as well as worldwide marketing efforts.
NGRAVE is a blockchain security provider offering a user-friendly end-to-end solution for the self-sovereign management of individuals’ and businesses’ digital assets and cryptocurrencies. The NGRAVE product suite consists of hardware wallet NGRAVE ZERO, backup solution NGRAVE GRAPHENE, and mobile application NGRAVE LIQUID. Developed with world leaders in nanoelectronics, hardware security and applied cryptography, NGRAVE ZERO’s advanced features make it the most secure and easy to use crypto hardware wallet in the world. NGRAVE will support over 20 coins in its first shipped devices including Bitcoin, Ethereum (and ERC20 tokens), Ripple, Bitcoin Cash, Litecoin, EOS, and many others.
Media Contact: Transform Group, NGRAVE@transformgroup.com