Exceptional Security For Vaultody Users Through Trusted Execution Environments
Security is a crucial aspect of the web3 ecosystem as it directly impacts users' trust and confidence in utilising decentralised applications and interacting with blockchain networks. It is one of the key users' concerns, and regardless, there is still little that has been done on the market to ensure a very high degree of protection to customers.
Despite being a multi-party computation (MPC) wallet, which is labelled as the gold standard, when it comes to security measures, Vaultody also adds another extra layer to go even beyond and ensure even stricter control and finance security through different hardware trusted execution environments (TTEs).
What is a trusted execution environment?
A Trusted Execution Environment (TEE) is a secure and isolated environment within a computer system that provides a high level of trust and confidentiality for executing sensitive computations. It is typically implemented using a combination of hardware and software technologies.
In Vaultody, we rely on two different hardware TEEs in order to ensure the availability of mechanisms for keeping our customers` funds protected, even in the event of hacks or forced attempts for interventions. When it comes to TEEs in the blockchain and cryptocurrency sector, the main goal of these environments is to securely store private keys, perform cryptographic operations and keep sensitive data within smart contracts.
Intel SGX (Software Guard Extensions) is the first hardware-based TEE that our MPC wallet uses. The Intel SGX technology is developed by Intel. It aims to enhance the security and privacy of software by allowing developers to create secure enclaves, also known as "secure worlds," within the system's memory.
Intel SGX offers a powerful hardware-based trusted execution environment that can strengthen the security and privacy of applications, protecting sensitive code and data from unauthorized access and tampering.
However, it is important to note that while Intel SGX provides robust security features, it is not immune to all types of attacks. This is the reason why Vaultody has ensured the provision of another hardware TEE, developed by AMD.
AMD SEV (Secure Encrypted Virtualization) is a security feature developed by AMD for its processors to enhance the security and isolation of virtual machines (VMs) in cloud computing environments. SEV is designed to protect the confidentiality and integrity of VM data, even from the hypervisor and other VMs running on the same physical server.
AMD SEV enhances the security and isolation of VMs in cloud computing environments by providing hardware-backed memory encryption and secure launch mechanisms. By protecting VM data from the hypervisor and other VMs, SEV helps mitigate the risks associated with multi-tenant environments and enhances data privacy and integrity.
In conclusion, our crypto assets wallet is taking the security measures to the next level - first, with the MPC technology, and second, with the two hardware TEEs provided by Intel and AMD. The incorporation of these innovations can guarantee our customers the peace of mind and full control on their assets.
If you would like to learn more about Vaultody features and security mechanisms, please contact our team.