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Gridlock vs Cold Storage
Hardware wallets or cold storage are commonly seen as the safest means of crypto storage. Given their physical nature, your cryptocurrency is kept offline, far from the reach of internet-based hackers. However, potential hazards lie in real-world scenarios such as theft, loss, or damage.
Gridlock helps to counter these risks by providing easy and secure recovery. Should your device be lost, social recovery enables you to regain access. The distributed network setup ensures that loss of a device doesn't translate to loss of your crypto. Additionally, your crypto being distributed implies it's not centralized in one spot, which significantly reduces the risk of "hot wallets" being compromised online. Gridlock blends the advantages of hot and cold wallets while eliminating their negatives.