Today, with the increasing growth of digital assets and the warmth ovation of millions of people in investing in digital assets globally, it became the hottest and the most modern and pervasive, and popular investing economical solution.
However, this area is not entirely free of risks. Sometimes simply forgetting a password or recovery phrase of a cryptocurrency wallet or death for investors might become a significant loss. The Serenity Shield security developing team has a system to protect the security of digital assets in these types of situations to save them for heirs of the passed away loved ones or those careless people who might easily forget their passwords.
When someone loses a crypto-wallet private key (so-called recovery phrase) or someone who has invested in cryptocurrencies or NFTs passes away, a long-life saving might be in danger of a permanent loss. Indeed, it is a mishap. Recently, the Serenity Shield has developed a system to avoid painful losses.
What is Serenity Shield?
Annually hundreds of people lose billions of dollars in case of forgetting wallet recovery phrases or the death of crypto holders, which the consequence of both is excessively distressing. However, cryptocurrencies souvenir for us is an excellent opportunity to invest money and gain wealth, but this ecosystem is not free of fatal risks. These risks management is one of the most important steps that investors and activists in this field should take.
Through the Serenity Shield solution, digital assets will not go forever in case of death and can deliver funds from the loved one to their chosen heirs. Serenity Shield is the first decentralized identity (DID) blockchain-based technological solution that allows for recovering digital assets in situations such as death or unpredicted events that might cause a ban of access to digital assets.
Holding cryptocurrencies is possible in various ways, through software wallets, hardware wallets (So-called cold wallets, including paper wallets), or centralized exchanges (web-based wallets). However, some of these traditional methods may cause a lack or loss of digital assets access. Serenity Shield solves this problem by providing a decentralized and encrypted solution for transferring assets to the nominated heirs or giving access to the digital assets back to the owner.
Serenity Shield is the first DID solution that allows for recovering digital assets in situations such as death or unpredicted events that might cause a ban of access to digital assets.
Serenity Shield provides users with complete ownership of digital assets through the mechanism in which the unchanging security of smart contracts and a professionally designed decentralized application (DApp) give them peace of mind. The StrongBox is a virtual solution that stores critical user information the way that the beneficiary is the only authorized person with a cloaked mechanism, with the highest possible security level. Once a new user activates the Serenity Shield account, the recovery event mechanism works, with an acceptable level of security for the primary owner of the account or their heir(s).
A serenity Wallet handles the authentication system, a custom Secret Network wallet built on the Web3Auth platform. This platform offers decentralized multi-factor authentication mechanisms and allows users access to a secure authentication system known as Single Sign-On (SSO) used for social networks, passwordless flows, or biometrically enabling smart devices. Simply zero custody is the beauty of the Secret Network of our Serenity Wallet. with this ingeniously and highly secure solution, users and their heirs make sure their control over their credentials has no expiry.
How does Serenity Shield work?
The Secret Network will be the blockchain that includes the main smart contracts, allowing network users to enjoy the security, transparency, and privacy features required by Serenity Shield. Clients send encrypted forms through smart contract transactions to the validator nodes and run in a protected hardware environment.
Thus, this platform’s privacy and security features are guaranteed to be safe and private. Serenity Shield will store an Owner’s ‘StrongBox‘ by combining the robust encryption algorithm Shamir’s Secret Sharing (SSS) and the Non-Fungible Token (NFT) standard. Each StrongBox will undergo encryption into three digital keys (NFTs) and require two keys to decrypt the StrongBox successfully
Users of Serenity Shield will be able to create a single Serenity Shield StrongBox where they can store their sensitive information and look it up on the blockchain.
The total supply of $SERSH will be up to 100,000,000 tokens. Buying Back and Burning of $SERSH tokens will be facilitated by the achieved revenue by its developed DApp. As this deliberate token burn, the supply of $SERSH will incrementally decrease over time, increasing token scarcity.
This mechanism makes a deflationary token of $SERSH . $SERSH is the Serenity Shield utility token, and it is a deflationary SPL token that works on the Solana network. Despite network congestion, Solana has more reasonable gas fees and a higher speed. Both characteristics ensure great future opportunities for project scalability and increased functionality for the overall project.
The Serenity Shield Security System is a comprehensive and efficient system for protecting and securing cryptocurrencies. You can use the Serenity Shield to transfer your assets to your heirs in an undesirable event, such as an accident or death. In this article, we’ve tried to explain what the Serenity Shield is, its features and applications, and how it works. What do you think of Serenity Shield?