Serenity Shield is an exciting startup that aims to help better manage wealth through blockchain technology; here’s how they plan to achieve this goal
Serenity Shield: A better private key solution
Serenity Shield is committed to solving a problem that has held the entire Web3 space back. Failure to solve it might mean that certain digital sectors will fail to achieve their full potential.
Private Key wallets are used to protect digital assets, and we can find a myriad of options available to the public. Private Key wallets allow users to store assets without the need for third-party players, but private key wallet providers and users are left with a conundrum due to how the technology works.
The safer private keys are, the harder they are to store and pass down, and this leads a lot of users to forget their login details, lose passwords, and sometimes wallets get hacked. Nobody knows the value of crypto assets lost forever due to holders’ untimely or unexpected death.
It’s always sad when grieving families cannot access the virtual assets of deceased loved ones, and when digital assets get locked away forever, it’s a loss for the entire ecosystem.
Rodolphe Seynat, Co-founder of Serenity Shield, had the following to share, “Serenity Shield solves a real problem deriving from mass adoption of crypto: how do you maintain the same flexibility of Web 2.0 while remaining non-custodial? With Web 2.0, it’s rare to completely lose access to your accounts, and we need to bring that same experience to Web 3.0 if we want to reach 1 billion crypto users in the next few months or years.”
The Serenity Shield Solution
Serenity Shield was founded in 2021 to solve a glaring issue that few people have attempted to solve. Soon, this company will be able to offer a reasonable solution to the ownership transfer issue plaguing the global cryptocurrency market.
Serenity Shield is becoming the first “non-custodial solution” for seed recovery. Users will be able to nominate heirs for their assets, further easing the process of passing wallets down; this is known as Digital Asset Legacy.
The solution from this company will feature a “StrongBox” that’ll feature three non-transferrable NFTS, and each NFT will contain a third of the secret needed to access the wallet. The first NFT will be held by the user; the second will be held by a nominated heir, while Serenity Wallet will hold the third.
The Serenity Wallet is deployed on Secret Network (a private data storage solution enabled by blockchain), and this smart contract will deliver its key to either the original user or the heir based on conditions set during StrongBox activation.
Serenity Shield aims to offer a $4 million public sale in June 2022, which comes after two successful private funding rounds of $2 million. We can expect the SERSH token from this company soon, and the protocol’s revenue will back it via an automatic buyback-and-burn mechanism.
Serenity Shield has designed a fantastic product thanks to advances in private blockchain data storage and cryptography. The company has plans for a Mainnet launch in Q3 2022 if it successfully fulfils auditing and penetration testing requirements.