Ngrave, Digital asset security firm, has launched what it claims is the first EAL7-certified cryptocurrency wallet, one of the world’s highest safety gradations with sales staring next month for its flagship product, the full offline hardware wallet Ngrave Zero.
The devices will be made available on Indiegogo from May 26 and are scheduled for shipment in October.
The Ngrave Zero is 100 Percent Offline
Ruben Merre, Co-Founder and Chief Executive of Ngrave, said that his product introduces “a number of innovations compared to existing solutions,” stating:
“The Ngrave Zero is 100 percent offline and features extreme tamper-proofing. It’s the only blockchain wallet with EAL7 security certification, which is the highest security certification in the world.”
The Assurance Level of Evaluation (EAL) is an international safety grading standard that was introduced in 1999. EAL7 is the second-highest level of 15 grades, trailing only behind EAL7 +.
“It never needs to connect to another device or over 4G, WiFi, Bluetooth, NFC, or any other network connection; not even for key generation, syncing accounts or transactions.”
Zero will use wall charging and QR codes to remove any connections to the device, allowing it to always remain ‘air-gapped.’ Merre said the wallet also has “multi-layered, military-grade anti-tampering features.” The unit is operated with a 4-inch touchscreen.
For its expertise in apple industrial cryptography the company has partnered with R&D firm Imec for nanoelectronics and chip manufacturing, and for its expertise in apple industrial cryptography Cosic — a company known for hacking Tesla vehicles on several occasions.
In addition to private investors, the company has received funding from the European Commission, the Flemish government and the Web3 Foundation.
Merre states that the development of Zero was motivated by Ngrave’s co-founding team’s experiences with poor crypto security, including Ngrave’s loss of 44,000 Ether (ETH) to CTO Xavier Hendrickx in the 2017 Parity hack:
“Ngrave’s three co-founders asked ourselves if there was an existing solution that we would really and completely entrust keeping our crypto for us. We couldn’t find any solution in the market, so we decided to build it ourselves.”
In April 2018 Ngrave began developing Zero. A functional prototype was built on a raspberry pi and the team pitched their vision to Imec. “That was the beginning of our collaboration with many world-class teams to build the Ngrave ZERO from scratch,” stated Merr, “It took us a bit over 20 months to fully develop it.”