Gridlock makes crypto storage safe and easy. Instead of storing your crypto in one place, Gridlock splits it into pieces and stores it in many places. It's easy to get started. All you have to do is ask some friends to download the Gridlock app, and we do the rest.
Each friend will hold tiny pieces of your crypto, but they can't do anything with it even if they tried. You are the only one that can control your crypto as your share is the owner share. It works in the exact same way as you holding all your crypto in your wallet, but the benefit of Gridlock is that you don't have to worry about losing your crypto if that wallet is stolen.
Your friends don't have to worry either! Even if they lose the pieces that you give them, you will still have enough to access 100% of your crypto.
But how does it work?
Crypto wallets work using a password called an encryption key that lets you access your crypto. But you can lose everything if you lose that password or the password is stolen.
Instead of one password, Gridlock makes a collection of smaller passwords that mean nothing by themselves, but when you combine them, you get the super password, the encryption key.
You don't need all the smaller passwords to use your encryption key. You only need a few of them. That means you don't have to worry if someone in your network loses a password or even if someone else steals one. As long as you have enough of your smaller passwords, you can access all of your crypto. Gridlock makes it easy to split an encryption key into tiny passwords and distribute them to friends.
We even monitor the network and will notify you if one of your friends loses their piece, so you can give them a new one. It's easy, safe, and stress-free when you use a Grid of devices to lock your crypto.
But what happens if someone else collects the keys?
Your device is the only one that can assemble the pieces and perform a transaction. If a hacker wanted to access your wallet, they would need your device.
Even the other devices who hold passwords for you (your guardians) cannot use their shares to access the wallet!
If you lose your device, ask your guardians to invite you back to the network. Using this quick and secure solution using the ones you trust, you'll be back in in no time!