February 2020: San Francisco, USA – Blockd has now launched their initial product that can give more protection than ever to any normal Ethereum account.
What Does Blockd Do?
Blockd provides an entirely new type of security on Ethereum: blockchain hack intervention. This means that, as opposed to other companies, they focus on security that intervenes if a hacker gains access to your wallet rather than only securing your first line of defense. You can keep your funds in your cold storage hardware wallet, but add Blockd right on top for an extra layer of security.
The Blockd protocol works by detecting a malicious transaction based off of parameters a user has set, then broadcasting a pre-approved transaction to intervene while the malicious transaction is still pending. This pre-approved “blocker” transaction replaces the malicious transaction with one that sends the user’s funds to a safety wallet they control. All of this is done with Blockd never having any control of your keys or funds.
Blockd Basic (their currently live product) allows users to add extra security to any they may currently have on their Ethereum account. They may add Blockd on top of a hardware wallet, for example, and be able to restrict addresses that it is able to send to—even if the private key is stolen. They say it will soon be improved upon with ERC20 functionality and more security features.
Blockd is bringing blockchain hack intervention to every facet of Ethereum and beyond. Blockd aims to make blockchain more secure than ever by making their protocol available for normal Ethereum accounts, smart contracts, and advanced smart contract wallets. Keep your eye out for improvements on this product and future products.
If you would like to learn more or sign-up, visit https://blockd.co.