Fortifying Your Digital Assets: Earth Wallet's Commitment to Security and Safety
Self-custody has always been the gold standard for securing your investments in digital assets. Anyone who has invested in Bitcoin and Ethereum for long enough, will emphasize that everyone should consider self-custody as the preferred method for storing digital assets, due to the concerning history of entrusting central exchange hacks like FTX. Now with the widespread availability of decentralized finance (DeFi), it is easier than ever to migrate to a secure self custody, and still have access to traditional finance tools like swaps, options, and lending. Earth Wallet aims to empower users to take full control of their digital assets, so they can enjoy peace of mind knowing that your digital assets are secure in your own hands, and protected by the best-in-class security measures.
In this blog post, we aim to outline the comprehensive cybersecurity best practices that Earth Wallet employs, and announce our new partnership with Halborn Security to audit the claims we are making with regards to securing your assets. Our goal is to demonstrate our unwavering commitment to security and to assure you, our valued users, that your assets are well-protected on your Earth Wallet. We recognize the immense importance of robust cybersecurity measures in digital asset management, as it's not only essential to protect your financial investments but also to ensure your peace of mind.
Entering the world of decentralized finance begins with a crucial step: the secure generation of private keys. Your private keys are the digital access codes that grant you control over your crypto assets, and as such, their secure creation and storage is of utmost importance. When generating private keys, it's essential to use a reliable, reputable software libraries that employ strong cryptographic algorithms and randomization techniques. This ensures that your keys are both unique and unpredictable, significantly reducing the likelihood of unauthorized access. By prioritizing the secure generation of private keys from the outset, you lay a solid foundation for your journey in the space, mitigating risks and safeguarding your assets. Remember, the security of your digital assets is only as strong as your private keys, so we take the time to get this first step right for a more secure and seamless experience.
At Earth Wallet, we prioritize key generation security in two ways:
(1) We stay true to the #1 rule in cryptography - Don't roll your own crypto, and only use battle tested random key generation libraries that have provably been used in securing Billions of dollars in assets. We recognize the vast majority of novel crypto techniques are largely marketing hype, claims made by software engineers, and that even world leading cryptography researchers have made mistakes in the past. When real money is on the line, it's best to avoid all three and stick to what is the absolute minimum risk.
(2) We utilize hierarchical deterministic (HD) wallets. HD wallets provide numerous benefits that ensure the safekeeping of your digital assets. One of the key advantages is the ability to generate multiple addresses from a single, master seed. This simplifies the backup process, reducing the risk of losing access to your funds, while maintaining a high level of security. Furthermore, the hierarchical structure of these wallets allows for better organization and management of your digital assets, ensuring an efficient and user-friendly experience.
Earth Wallet's commitment to supporting HD wallets underscores our dedication to providing you with the most secure and seamless platform possible, empowering you to manage your digital assets with confidence and ease.
The next step in your security journey has to do with signing transactions, and granting applications control of your account. With Earth Wallet, we ensure the security by offering you several options to authenticate and sign transactions:
(1) Your wallet signatures can be secured by advanced biometric authentication methods, including fingerprint and face recognition. These features add an extra layer of security, making it exceedingly difficult for unauthorized individuals to access your wallet. Biometric authentication not only provides added convenience but also ensures that your assets are protected by your unique physical traits, offering you peace of mind.
(2) Earth Wallet advocates for the use of strong and unique passwords, following best practices such as using a combination of uppercase and lowercase letters, numbers, and special characters. We also encourage our users to utilize reputable password managers to securely store and manage their passwords. By combining these two password practices, Earth Wallet offers a high level of security, instilling confidence and comfort in our users as they manage their digital assets.
(3) All app permissions are conveniently shown on your Apps page, where you can review every transaction made, so you can revoke authentications whenever you feel an app has been compromised. We encourage users to always practice good security hygiene by removing app access after you are done using an app. This will avoid any potential future risks to your wallet.
By storing your wallet data and private keys exclusively on your device, we minimize the risk of unauthorized access and enhance your privacy. Additionally, we employ secure end-to-end encryption to protect your data during communication, ensuring that only the intended recipients can access the transmitted information. This encryption plays a crucial role in safeguarding your privacy, as it prevents potential eavesdropping or interception by malicious actors.
Our commitment to true self-custody means that Earth Wallet operates independently, without ties to exchanges or venture capital firms. This independence allows us to focus on delivering the best security practices and features tailored to the real community needs, without potential conflicts of interest. By entrusting Earth Wallet with your digital assets, you can feel confident knowing that our primary objective is to maintain the highest standards of privacy, security, and autonomy for your financial investments.
Earth Wallet's dedication to security is further reinforced by our highly skilled internal security team, who have a proven track record of safely securing billions in digital assets in both traditional and decentralized finance. This expertise ensures that your funds are protected by professionals with extensive experience in handling high-value transactions and maintaining the highest level of security. We are also excited to announce our partnership with world-class security firm, Halborn Security, who have provided an elite level of confidence to leading blockchain projects like Avalanche, Bored Ape Yacht Club, Dapper Labs, and many more. We will be working with Halborn Security on several aspects to perform rigorous, comprehensive audits on our systems and processes to identify and address potential vulnerabilities. Namely,
We are beyond thrilled to partner with Halborn at the forefront of security innovation, continuously enhancing our security posture and maintaining the safest environment possible for your digital assets. With Earth Wallet, you can feel secure knowing that our team of experts, trusted partnerships, and forward-thinking R&D approach are working together to provide the ultimate protection for your investments.
Earth Wallet's unwavering commitment to cybersecurity best practices ensures the protection and privacy of your digital assets. We prioritize secure access, encryption, wallet security features, and collaborate with trusted security partners to provide you with a safe and reliable self-custody wallet experience. As part of our dedication to transparency, Earth Wallet embraces free open source development, enabling the wider community to review and contribute to our software.
In the coming weeks, we aim to release a first of its kind Artificial General Intelligence (AGI), to empower Eartheans with the knowledge and tools necessary to grow and protect your wealth. We believe that an informed user base is essential to the overall security of our platform, and health of our community. With Earth Wallet, you can feel safe and secure knowing that we are committed to delivering an exceptional self-custody experience that prioritizes the safety and privacy of your digital assets.