Share this article
Tezos Israel Develops Hardware Device to Protect Network Validators' Staked Assets
Innovation hub Tezos Israel has built a hardware security device it says will better secure the staked assets of Tezos' network validators.
Updated Sep 14, 2021, 10:46 a.m. Published Dec 21, 2020, 2:00 p.m.
Make us preferred on Google
An Israel-based innovation hub focused on the proof-of-stake blockchain network Tezos is bringing out a security device it says will better secure the staked assets of network validators.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- Tezos Israel said in a press release Monday that the hardware security modules, developed in partnership with Hub Security, will allow validators (also known as "bakers") to store their private keys in a secure cloud or in a separate physical unit, avoiding theft and network disruptions.
- Network validators must stake large amounts of cryptocurrency – that is, lock in funds a period of time – to qualify to validate the network. This approach requires "rigorous security," said Eyal Moshe, CEO of Hub Security.
- A kind of server, the new device is powered by a mini hardware security module (HSM) that acts as the user's "remote control" and software that allows "bank-level" two-factor authentication, according to the release.
- It is said to offer bakers a better alternative to cryptocurrency hardware wallets, which need to be physically connected to the computers running the network.
- The firms said using HSM technology enables "the safe use of encryption keys and secret information to operate sensitive applications while maintaining complete secrecy and privacy."
See also: Licensed Swiss Crypto Bank Launches Tezos Trading and Staking
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
HYPE token's 30% surge is a story of crypto-traditional market convergence, treasury firm says
HYPE has surged 30%, outperforming bitcoin, ether and the CoinDesk 20 index by a big margin.
What to know:
- Hyperliquid's HYPE token has surged more than 30% to $33, far outpacing bitcoin, ether and the broader crypto market, as trading activity on the platform accelerates.
- The token rally represents the merging of traditional assets with the crypto world, according to Hyperion DeFi, which is a HYPE treasury company.
- Originally a crypto perpetuals exchange, Hyperliquid has expanded into tokenized trading of equity indices, individual stocks, commodities and major fiat pairs via its HIP-3 upgrade.
Top Stories
