Technology giant IBM has released a cryptographic signature technology to make it easier to hold digital assets through cold storage.
According to the statement made by IBM, Hyper Protect Offline Signing Orchestrator (OSO) thanks to its features such as network-disconnected operations, time-based security measures and electronic transaction signature of multiple stakeholders. protecting high value transactions provides.
Hyper Protect OSO reduces the management cost of cold storage methods and risk of human error It reduces. Customers will be able to set two different time settings to protect their digital assets from attacks. Here’s IBM’s example:
“A customer may allow signatures and verifications in cold storage to be dumped every 5-10 minutes, every hour, or once a day, but in reality this is happening on the blockchain.” publication, may occur 1-2 days later. The second time setting can be optionally defined by customers as non-changeable. Therefore, during an attack, the attacker can can start but before the transaction is published on the blockchain a certain period of time (maybe 1-2 days if the setting is made accordingly) has to wait, which gives stakeholders time to cancel the transaction.”
IBM worked with partner Metaco to develop this new solution. Metaco, which provides infrastructure services to global custody institutions and banks, was purchased by Ripple, the developer of XRP, for $ 250 million.