Official Press Release
GK8’s high-security self-managed solution is the first in the market to bring crypto custodians up to speed with the dynamic blockchain industry, integrating new protocols within seconds instead of spending 3-6 months on R&D. GK8 also announces integrations with Cardano and Tezos.
Tel Aviv, Israel, January 2022 — GK8, a leading self-managed crypto custody solution with cold and MPC DeFi and staking support, reveals a host of new features coming to its platform with the latest update. Any clients managing digital assets with GK8’s solution can now instantly integrate their operations with any existing or future layer-1 blockchains compatible with the Ethereum Virtual Machine (EVM), with no additional research and development needed. With another new feature added in the update, they can also access any smart contracts and integrate any tokens based on ERC20 standard on any EVM-compatible chain without the need for developing contract- or token-specific patches. GK8 also announces the expansion of its supported blockchain stack, adding integrations with Cardano and Tezos.
Bitcoin, the world’s first and best-known cryptocurrency, is based on a decentralized ledger, with its local copies stored and updated by thousands of network nodes in line with its consensus algorithm. Ethereum then pushed the concept further: Its decentralized database can also retain pieces of executable code, applications known as smart contracts. Instead of updating only the ledger, the Ethereum network updates its current state based on user inputs, operating as a massive decentralized computer. EVM, the protocol enabling it to function, is what ultimately powers the vast network of decentralized finance (DeFi) services. It is a powerful and popular protocol supported by many major chains, including Binance Smart Chain, EOS, and Polygon.
With its latest update, GK8 enables its clients to integrate their custodial services with any EVM-compatible blockchains with no additional development and coding needed. The generic EVM support allows the user to set up a network node within seconds for any present or future EVM-compatible layer-1 blockchain. The solution’s capabilities extend beyond basic transactions, also enabling the user to access DeFi smart contracts and native staking through GK8’s unique cold staking feature. This grants GK8’s clients the flexibility they need to keep up with the fast-moving blockchain space, connecting with new chains and DeFi services through zero time-to-market integrations without wasting months on protocol-specific updates.
The GK8 solution also offers zero time-to-market smart contract support for EVM-compatible blockchains, enabling its clients to tap any DeFi services they need at their discretion. With the new update, GK8’s institutional-grade platform can generate the custom transactions and inputs needed to activate any EVM smart contract. Using this feature, banks and other custodians can offer their clientele access to any service they require in a speedy and versatile manner.
Expanding its list of supported blockchains, GK8 also announces the integration of its solution with Cardano and Tezos, two popular blockchains based on proof-of-stake consensus, seen as a more eco-friendly alternative to Bitcoin and Ethereum’s proof-of-work. The integration includes full node support, access to native staking, which allows the user to gain rewards by enabling the network’s operations, and smart contract support for DeFi. For staking, GK8’s clients can use its unique cold staking functionality which allows them to lock their digital assets into the select smart contract without having to remove them from the Cold Vault.
GK8’s regulation-ready solution consists of two key parts: a unique Cold Vault, the only one in the market that can sign off transactions without connecting to the Internet, and a powerful high-scalability MPC hot wallet. The company’s patented implementation of unidirectional connection technology for crypto wallets grants the users an unparalleled level of security, leaving no openings for hackers to exploit. GK8’s solution supports secure tokenization of traditional assets as well and features an arrangement with AON for customers to quickly and seamlessly access insurance of up to $750 million per Vault.
“EVM is a breakthrough infrastructure protocol shaping up to be the software backbone for the future of finance,” says Lior Lamesh, CEO and Co-Founder of GK8. “With our new features, banks can be sure that their crypto custodial services will remain future-proof for decades to come, and the versatility that will help them keep up with the lightning-fast crypto space. They can react to the market in an instance, drastically saving time and making the most out of the opportunities at hand while still relying on us as their one and only security providers.”
GK8 is a blockchain cybersecurity company that offers financial institutions an end-to-end platform for managing blockchain-based assets on their own. The company developed the world’s first true air-gapped Cold Vault that enables its clients to create, sign, and send secure blockchain transactions without internet connectivity, eliminating all cyber attack vectors. Recently acquired by Celsius Network for $115 million, the company continues to operate as an independent entity. Chosen by Mastercard to help it define the future of blockchain finance and payments, GK8 serves clients managing billions worth of digital assets, including eToro, currently at $10B market value, Securrency, a blockchain fintech company backed by State Street, U.S. Bank, WisdomTree, and Abu Dhabi Catalyst Partners, and Prosegur, one of the world’s largest custodians with more than $400B assets under management.
For more information, visit https://www.gk8.io
For more information: https://www.gk8.io/
Lior Lamesh - CEO and Co-Founder
Shahar Shamai - CTO and Co-Founder