General FAQs

What is Gridlock?

Gridlock is a new and secure way to store any digital asset, including all cryptocurrencies. It’s simple, unbelievably safe, and takes away the stress of managing your assets. With Gridlock, you are always protected and always in control.

How do I use it?

You can find all the information you need on how to get started on our Vault Setup page.

Is Gridlock a Cryptocurrency wallet?

Wallets are devices that store your keys and rely on you to protect them. Gridlock uses a network of devices, not just one. It's more than a wallet, it's an unbreakable distributed vault.

How is it secure?

Gridlock is the safest cryptocurrency storage platform available. It works by splitting encryption keys into tiny pieces and distributing them across multiple devices. You get the combined protection from all devices and simultaneously mitigate any possible weaknesses. You can learn more about Gridlock's revolutionary security on the Security page.

How is Gridlock different?

Gridlock is not a cryptocurrency custodian but rather a platform that increases the strength of your own storage. Existing solutions either require you to give up full control of your assets or put the risk of theft and loss entirely in your hands. Gridlock ensures that you are always in full control while eliminating the stress of personal management. The best of both worlds!

If I have a hardware wallet, does Gridlock replace it or compliment it?

Gridlock replaces a hardware wallet by reducing the importance of any single device. It simultaneously prevents hacking, much like with a hardware wallet; while ensuring you do not have the risk of damage a hardware wallet may have. With a distributed key system, it doesn't matter if one or two devices are lost, damaged or even stolen.

How much does it cost?

The core functionality and services Gridlock provide will always be free.

Who holds my Cryptocurrency?

You and only you. Gridlock provides the security you need to keep your assets safe, but it never holds custody over them.

Which cryptocurrencies does Gridlock support?

Currently, Gridlock supports Ethereum, but support for all other cryptocurrencies, including Bitcoin, is coming soon.

Does Gridlock have a coin?

Gridlock does not have a coin and there are currently no plans to develop one.

Does gridlock make hacking impossible or significantly reduce the chances?

A hacker would need access to multiple devices in order to reconstruct the private key that was created, so theoretically, Gridlock prevents hacking completely.

Is Gridlock really needed? It seems like adding extra security that I am not sure I need.

Distributed Key Generation ensures that your vault cannot be hacked. There are many reasons you may want to use personal storage hardware as you might trust only yourself and can mitigate the risk of hacking that way. But, what happens if your hardware breaks or is stolen or lost? With Gridlock, you mitigate the risk of hacking, but also mitigate the physical liabilities of personal storage.
Last modified 22d ago