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The number of internet users crossed the 3 billion mark in 2017. This means that nearly half of the world’s population is now online, and that the number of people hackers and bad actors can target has increased. The internet can be dangerous, and safety is cautioned, especially for cryptocurrency users.
According to a Google report, extortionists using ransomware netted $25 million from their victims in two years. As reported by CCN, South Korean cryptocurrency exchange Youbit was hacked in December 2017, and lost 17% of its reserves. This trend means users should up their security to the hardware level.
Although there are a few hardware wallets out there, most either allow users to store their cryptocurrencies, or allow users to protect their accounts. Stylish, reliable and empowering multi-purpose hardware wallets weren’t a thing, until now.
Enter the GIZA device, a new multi-purpose wallet that allows users to safely store their cryptoassets, while also helping them manage passwords, encrypted file storage, and two-factor authentication (2FA). This essentially means it’s a “swiss army knife” of digital security.
An all-in-one solution
Behind the GIZA device is a team with considerable hardware development experience, meaning the product will be a reliable all-in-one solution that will help cryptocurrency users stay safe, and even use infected machines if they want to, given that every transaction has to be manually confirmed on the device, which doesn’t require any special software, username or password. The device allows users to transact using a browser extension, which can be used on either Chrome or Mozilla.
The device itself has 16 GB of built-in memory so as to allow users to comfortably store their files, which can be backed up on the blockchain. It also has a built-in battery that can handle up to 10 hours in autonomous active mode.
GIZA supports over 10 different cryptocurrencies, including Bitcoin, Dash, Monero, Litecoin, Ethereum, and Bitcoin Cash. It supports the most popular ERC 20 tokens, and allows users to manage up to 3 different accounts on one single device. Furthermore, users who want to leave no digital trace behind, can use the GIZA device to input passwords, just like if it were a hardware keyboard.
The team behind the project thought about even the most unlikely situations, and to ensure GIZA users are always in charge of their own money, added an emergency data destruction function.
In case of an emergency, the device allows users to delete their data in three different ways. They can use a secret joystick combination, multiple false master password inputs, or simply a false master password, which is set up just like a real one, but that activates data destruction once entered.
GIZA device’s development
The GIZA project is currently conducting a pre-TDE (Token Distribution Event) that’s scheduled to end on February 8, or when 14.6 million GIZA tokens are distributed. At press time, about 90% of these tokens have already been distributed. After the pre-TDE potential backers will only be able to participate in the TDE within 6 months.
The funds GIZA raises through its pre-TDE won’t be used to market the product, but will instead be used to further develop it. This means that once the TDE goes live, in October 2018, the team behind GIZA will have a working preproduction model.
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New Hardware Wallet Giza Device to Become All-In-One Security Solution