New suite built on Fortanix Data Security Manager takes a 360-degree platform approach and FIPS 140-2 Level 3 certification to deliver unprecedented digital security for decentralized finance
MOUNTAIN VIEW, Calif.–(BUSINESS WIRE)–Fortanix® Inc., the pioneering multi-cloud data security company and leader in confidential computing, today announced the launch of a new suite of Secure Web 3.0 infrastructure solutions that are built on Fortanix Data Security Manager™ and designed specifically for blockchain, cryptocurrency and finance businesses. decentralized. The new offering dramatically improves the security of business-to-consumer (B2C) wallets and the integrity of blockchain implementations by harnessing the power of Confidential Computing.
Users of blockchain services are increasingly demanding non-custodial wallets to enable the management of their digital assets, giving them sole custody of the private keys they need to control blockchain transactions. At the same time, proof-of-stake blockchains need to be protected from “nothing at stake” attacks, which create fraudulent forks in the blockchain. Fortanix’s revolutionary Secure Web 3.0 infrastructure solutions address both of these pain points for blockchain operators and blockchain users while supporting compliance with existing and emerging regulatory requirements for digital asset businesses. The release of these new tools provides unmatched security through its integration within Fortanix Data Security Manager, which protects cryptographic operations with Confidential Computing and up to Federal Information Processing Standard (FIPS) 140-2 Level 3 certification.
For the first time, blockchain infrastructure can be protected with a single FIPS-certified solution that implements Confidential Computing technology to protect the user authentication process, ensure full control of private keys by owners of assets and provide high availability and disaster recovery for digital assets. business Fortanix Data Security Manager now defines the new standard for blockchain and decentralized application security and ensures Fortanix customers are ready to deliver decentralized services securely in the emerging era of Web 3.0.
“With the growth of decentralized applications relying on blockchain technology and the transition to a Web 3.0 information domain, blockchain services need a convenient way for their users to store digital assets while , ensure that wallet providers cannot steal these digital artifacts due to misconfigurations. or malicious actors attacking the backend wallet implementation,” said Richard Searle, Vice President of Confidential Computing at Fortanix. “Our Secure Web 3.0 infrastructure solutions are a shining example of how our industry-leading confidential computing capabilities can be applied to improve experiences for both consumers and businesses when security is of the utmost importance. By adopting these new solutions, Fortanix customers can manage compliance with regulatory requirements and provide greater security to their end users.”
“We see the rise of Web 3.0 creating a paradigm shift in the industry, creating new challenges to protect digital assets and demanding innovative new solutions from financial institutions that leverage blockchain technology,” said Jason Davidson, Vice President of Engineering at Figure. . “We welcome the opportunity to partner with Fortanix by leveraging the new solutions they are introducing to address this market, helping us accelerate the transformation of the trillion-dollar financial services industry.”
Double protection for decentralized finance
Coinciding with the RSA Conference 2022 In San Francisco, the launch of Fortanix Secure Web 3.0 Infrastructure solutions features two distinct solutions, each with unique features and benefits for its users: Non-custodial Fortanix Warm Wallet Y Fortanix Ignite Sole Signer.
Non-custodial Fortanix Warm Wallet ensures that a customer’s digital assets are not misused by a wallet provider without explicit consent in the form of a valid two-factor authentication (2FA) token. The tool provides:
- Enhanced security. Fortanix confidential computing technology moves the 2FA process within a highly secure Trusted Execution Environment (TEE).
- Reduced trust barriers. A compromised wallet back-end system does not lead to the loss of the end user’s digital assets, giving them full control over access to their digital wallet and a better guarantee of the security of their assets.
- Reduction of operational risk. Cryptocurrency companies can demonstrate to regulators, insurance providers, or other authorities that their users’ assets cannot be spent without the explicit and fully auditable approval of the user in question.
Fortanix Ignite Sole Signer it enhances existing offerings for blockchain signing that do not guarantee signer integrity or provide high availability and disaster recovery capabilities. Fortanix’s solution for the Ignite (formerly Tendermint) ecosystem:
Implements double signature prevention logic in a high integrity secure environment.
Maintains high availability, based on a cluster architecture with built-in resiliency.
Supports disaster recovery to prevent loss of digital assets.
Strengthens the performance and scalability required by decentralized applications for decentralized finance and Web 3.0 applications.
Fortanix Secure Web 3.0 infrastructure solutions are now available as part of the Fortanix Data Security Manager product, which can be deployed on-premises, in the cloud, or consumed via a software-as-a-service (SaaS) model, with up to FIPS Certification 140-2 Level 3.
For additional information:
Read the blog post “Securing Ignite Applications with the Fortanix DSM and TMKMS”.
Fortanix will host a panel discussion on cybersecurity thought leadership on June 8the2022 at 6:30 pm on the topic “Securing Identity and Digital Assets with Confidential Computing.” Panelists will include Carole House, director of the White House National Security Council; Kay Turner, Senior Digital Identity Advisor, FinCEN; Raghu Nambiar, Corporate Vice President of AMD; Ambuj Kumar, CEO of Fortanix and Greg Woolf, CEO of Fiverity. The panel will be hosted by Shashi Kiran, CMO, Fortanix at Foundation Capital’s San Francisco offices. Record here.
Fortanix is the first data security company, protecting data wherever it lives. As the industry’s first and largest provider of confidential computing solutions, Fortanix decouples data security from infrastructure. Fortanix solutions empower organizations with centralized controls to protect distributed data across clouds, applications, SaaS, databases, and data centers. Companies around the world, especially in privacy-sensitive industries such as healthcare, financial technology, financial services, government, and retail, trust Fortanix for data security and privacy. Investors in Fortanix include Intel Capital, Foundation Capital, Neotribe Ventures, and In-Q-Tel. Fortanix is headquartered in Mountain View, CA. For more information visit https://fortanix.com/.
Sammy Totah, BOCA Communications for Fortanix