When and how was NGRAVE founded?
In 2017, and with ETH still in its early days, NGRAVE's CTO Xavier Hendrickx's previous blockchain project was hacked for 44,000 Ether. A deadly blow to any project. And yet, out of this event, there were two silver linings.
First off, it incited a joint effort from Xavier and other developers to set up one of the biggest rescue missions in crypto history, ultimately saving 500 other crypto projects for a cumulative 208M dollars.
This event also started a discussion between Xavier, Ruben Merre (CEO), and Edouard Vanham (COO), on "where would we store all our crypto and other digital assets and be able to sleep at night". That question very quickly led us to one conclusion: the solution did not yet exist and we would have to build it ourselves.
Fast forward to April 2018, we started our NGRAVE journey guided by three fundamental principles and an extreme passion for protecting people. In the fast-paced crypto space, starting on such a long-term endeavor, combining the intricacies of three challenging niches - hardware, maximum security, and crypto - you only embark with a clear mission: “Empower people to safeguard their wealth so they can live the life they want”. Here are NGRAVE’s three leading principles to achieve that mission:
No compromise on users’ security.
User-friendly, intuitive tap-and-swipe experience.
End-to-end security from key generation to seed recovery.
Security does not start or end with your cold wallet. Security is systemic; it includes managing potential attacks in the supply chain, securely generating keys, seed backup, and a smart recovery process that doesn’t expose the user to any third-party risk. At NGRAVE we hold a firm conviction that you should be, at all times, the sole owner of your keys and your crypto. Our role is to support and protect you in the ownership of your assets. All of what we do is to empower you to “Start Truly Owning What Is Yours”.
Why is our hardware wallet called NGRAVE ZERO?
In the vast world of cryptocurrency storage, there are two distinct types of wallets: "hot wallets" and "cold wallets." While online crypto storage apps like Trust Wallet or MetaMask fall into the category of hot wallets, hardware wallets proudly hold the title of cold wallets due to their offline nature. And among these cold wallets, one reigns supreme as the epitome of security: NGRAVE ZERO - The Coldest Wallet.
Imagine a wallet so secure, so impervious to threats, that it can be considered colder than any other. We sought to encapsulate this unparalleled achievement in a name and turned to a concept deeply rooted in science and universally recognized as the epitome of coldness: absolute zero. At approximately -273.15 degrees Celsius (-459.67 degrees Fahrenheit), absolute zero represents the lowest theoretically attainable temperature in the known universe.
Now, achieving absolute zero temperature is no small feat. In fact, it is deemed theoretically impossible, as it requires the complete removal of all thermal energy from a system. Even under the most controlled laboratory conditions, scientists have come astonishingly close to absolute zero but have never quite reached it. However, as creators of The Coldest Wallet, we accomplished something equally groundbreaking in the realm of financial security: releasing a wallet boasting the coveted EAL7 security certification for our secure firmware. In a way, we achieved a metaphorical absolute ZERO with the birth of the Coldest Wallet.
But what happens when one reaches absolute zero? At this mind-boggling temperature, particles become impeccably ordered and motionless, rendering escape virtually impossible. The same concept applies to your precious keys stored within ZERO. They are locked away, shielded from any potential threats, and held in a state of utmost security.
Just like absolute zero stands as the ultimate frontier of coldness, ZERO represents the pinnacle of security in the crypto universe. Its impenetrable fortress ensures that your valuable digital assets remain safe and sound, free from the prying eyes of hackers and malicious actors.
Is the NGRAVE GRAPHENE crypto backup made of graphene?
In the quest for getting as close as possible to unbreakable security, we often find inspiration in the most unexpected places. Take, for instance, the intriguing parallel between our cutting-edge backup solution, GRAPHENE, and the two-dimensional wonder material that shares its name. Although our GRAPHENE backup consists of two high-quality stainless steel plates while graphene is a single layer of carbon atoms, their exceptional properties intertwine in a symphony of strength and security.
Let's start with the remarkable strength of graphene. This two-dimensional allotrope boasts a tensile strength over 100 times greater than that of steel. Similarly, our backup solution exudes unwavering strength when it comes to safeguarding your private keys. Designed to withstand the harshest conditions, it is resistant to house fires (up to a scorching 1375°C - 2507°F), floods, corrosion, and shocks. Just like graphene's resilience, our backup's strength acts as an impenetrable shield for your digital assets.
The optical properties of graphene add another layer of fascination to its repertoire. Across a broad spectrum of wavelengths, including visible, infrared, and ultraviolet light, graphene remains transparent. It's as if this remarkable material can hide in plain sight. Similarly, our GRAPHENE backup takes secrecy to the next level. The NGRAVE Perfect Key, represented by a 64 hexadecimal seed phrase, becomes invisible to anyone who stumbles upon just one of your plates. The upper plate and engraved lower plate, both unique, combine like pieces of a puzzle to "visualize" the Perfect Key. You can learn more about GRAPHENE in our article.
Dubbed a "wonder material" for its exceptional properties and vast potential, graphene has captured the imagination of scientists and innovators worldwide. In the realm of backups, our stainless steel marvel is equally awe-inspiring. Known as The Ultimate Backup, it possesses a fascinating ability to recover part of your Perfect Key. Each upper plate has a distinct "Unique Recovery Code" at the bottom right corner. By providing this code, customers can request a new top plate from NGRAVE, allowing them to reconstruct their key within the ZERO wallet without divulging any sensitive information.
With GRAPHENE, we have unlocked a new era of security and resilience. Imbued with the strength and transparency of graphene, our backup solution stands as a testament to the lengths we go to in order to protect your digital assets. Embrace the power of GRAPHENE and experience the peace of mind that comes with knowing your private keys are shielded by the ultimate safeguard.
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Where does NGRAVE’s name come from?
We believe that if you are serious about protecting your crypto, you should start with the backup. That is why we named our company NGRAVE, or engrave with a stylish twist, as it represents the act of engraving your private keys on our ultimate backup solution, GRAPHENE.
In fact, after the user verifies that their ZERO was not tampered with on its way to them, the first step of the setup process is to generate a Perfect Key and engrave it on the GRAPHENE. This allows the user to start managing their crypto with the peace of mind that they have a reliable backup for years to come.
Why is the crypto mobile app named NGRAVE LIQUID?
Liquidity, the ease of converting assets into cash, is crucial in the financial world. While NGRAVE LIQUID mobile app users can't convert crypto into fiat just yet, it provides a secure platform to engage with the blockchain.
Without exposing sensitive information such as private keys, ZERO communicates with the LIQUID app via one-way QR codes, ensuring protection against threats. With real-time updates on account balances and transactions fetched from the blockchain, NGRAVE LIQUID is a seamless and secure way to interact with the blockchain. Exciting features are on the horizon, so stay tuned to NGRAVE's roadmap.