Gridlock vs Cold Storage
Cold storage or hardware wallets are often considered to be the safest method of crypto storage, which is understandable. A hardware wallet is physical, meaning your crypto is kept away from an internet connection where a hacker cannot touch it. However, the risk lies in real-world loss, theft and damage.
This is mitigated with a Gridlock wallet because recovery is easy and secure. Even if you lose your device, you can get back in using social recovery. You will never lose your crypto if you lose your device, thanks to your distributed network.
Furthermore, with a distributed network, your crypto is never in one place. This means the concern of "hot wallets" being exposed to breaches through the internet is mitigated. Gridlock combines the positives of hot and cold wallets, but simultaneously removes the negatives.
Last modified 10mo ago