Vaults containing your cryptocurrency are assigned to trusted people or devices, known as Guardians. Your Guardians can be adjusted as needed in real-time so that the appropriate number are always guarding your cryptocurrency assets.
Attention. There is a risk that unverified members are not actually members of the team
Advantages.1. An extremely strong group of investors. winklevoss, naval, true ventures, and hashed.2. It is easy to secure security related to passwords. Security through the Guardian is the first attempt and the importance of private key security will become increasingly important.3. The roadmap has a fast and powerful development team. Projects that can be quickly commercializedA complementary point1. The somewhat hard cap is big. Although the detailed token matrix has not yet been released, it is hard cap of about 40m ~ 50m.2. Many security products including ledger nano are potential competitors.
Market Competitive environment:Dan Morehead, Founder, and CEO of cryptocurrency hedge fund Pantera Capital said on CNN that he believes the cryptocurrency market cap could one day be worth $40 trillion. Similar predictions give billionaire investor Mike Novogratz.With that said, it’s clear that investors will have to keep an eye on the security of their funds. So different wallets that are providing services to store funds will be in demand.Approaches to store cryptocurrencies are dividing in two main paths:Hot wallets are used to store cryptocurrencies online for daily use;Cold wallets are used to for the longtime holding strategy;Hot storages are easy to use, but they are not trusted because of the centralization and all problems that occur with that (hacks, fraudulent activity, privacy violation of users data, etc).Real competitors (like Trezor, Ledger, etc.) can be found in the Cold Storage section.Wallet provider Ledger was founded in 2014 and released their most successful product The Nano S in June 2016 with price €69.60 before taxes (some time after that price were changed to the current €94.80, which includes shipping costs). Since then company recorded revenue of $56 million in 2017, according to Bloomberg (paywall), and around $734,000 in 2016 according to filings in France. In january 2018 company announced, that there were sold more than 1 mln of wallets, providing the company $116 million revenue. With offices in Paris and San Francisco, Ledger targets selling 3 to 6 million of its hardware wallets this year. Ledger wants to increase revenue by growing the software portion of its business, aimed at customers like hedge funds, banks and corporates, which doesn’t rely on the physical dongle but instead on a more complex server-based structure. For this purposes they are building Ledger Vault.In case of the Trezor (founded 2012) information about the revenue of the company is not found in the public sources. Wallet provider selling two products for its customers: Trezor One for €89 and since the end of the 2017 Trezor Model T for €149.But all modern cold storage competitors are centralized - that means they can be be destroyed, lost or stolen. While Vault12 brings decentralized solution for critical data storage with possibility not to store passphrase near the wallet to perform transactions. Also, none of the competitors provide security measures against quantum computers and Multisig options like 20 of 200 are declared only on this platform for now. Not to mention the fact, that app will be free for download.Potential minuses:Not many cryptocurrencies will be supported (while most close competitor Trezor aims to support them all);Stealth hack or infection of owners device with the fact of losing critical data (files or funds) when all shards will be gathered at the master device;The option will be not usable in a location with the bad internet connection.But right now it is too soon to claim mentioned above as cons.The team has made the deep research of the market and is developing a product that will be one step forward of all current products.
The project advantages:Shamir's Secret Sharing. All data in the Vaults is secured using Hierarchical Shamir's Secret Sharing, which is so secure that not even an attack via a quantum computer can unlock protected assets.A trusted mesh network as storage. Data of an Owner is distributed across the trusted devices (Guardians and Custodians), that he chooses himself (for example, mobile phones of family members and friends).No single point of failure. If Owner will lose his device, he can get access to the data from Guardians and Custodians. At the same time, they can’t get access to the funds without Owner’s device.Incentivization for custodial services. The Vault Guardian Token (VGT) will be used to incentivize Guardians and Custodians to secure your cryptocurrencies. VGT can also be used to pay for additional Guardians and Custodians to be assigned to your vault.Future token utility. In the future, the Guardian token will be used to pay service providers who deliver highly reliable security, redundancy and availability across private relay networks, to ensure you have the highest degrees of access and security for your assets globally.This is not only for cryptocurrencies. The solution developed by the team can be used to store such digital data as documents, images, etc. (not only cryptocurrencies);Available even after the death of the owner. Data can be accessed even after a death of the Owner or if he is in the jail.The passphrase is the mesh. There will be no need to have the private key (passphrase) with yourself to perform a transaction – all is need is to gain data from a specified number of trusted devices (for example, 3 of 5 family members and 7 of 10 friends).
SOCIAL ACTIVITYThe project popularity in the social networks and discussion forumsTwitter: 982 followers, average number of likes on one post is 8, average number of retweets on one post is 3, there are no discussions under posts.Telegram: 10,4k members: user activity is low.From all influencers only Pantera+ is shilling the project.Admins on the Telegram-channel are answering very slowly.
Vault 12 has developed a new scheme to secure your crypto assets by using mobile devices of people you trust – your relatives and friends. MVP is here, the platform will be ready in October. The idea of dividing a private key into fragments is quite new, that will make a good starting position for the project. The team is strong, though it consists of only four people and doesn’t include technical specialists. Inspite of an innovative idea, the field of protecting wallets is full of competitors. So, if the idea shoots, the guys will get their piece of cake.A promising project with a new idea, MVP, strong team, and bright perspective.
There is a lack of general information on the website, as well as the majority of the main information is available only for investors via direct mail in Telegram. The ICO date has not yet been defined. Meanwhile, the pool of investors looks well, including several well-experienced individuals, like the Winklevoss brothers and Naval Ravikant. he Project provides quite a good description of the product with visual examples of the network and applications. The protocol is based on Shamir's secret sharing which provides storage security and transparency. The concept of the project looks like a secure private network where owner shares data with friends and assign a hierarchy. Roadmap has not yet been published as of June 14th, 2018. The absence of the Roadmap says that the Team does not have the final vision of the project yet. The project’s development can be accessed when the roadmap is published. The data custody market is actively growing due to an increasing number of transactions on the web and complicated security requirements. There are several solutions for data storage on the market. All of them have pros and cons, but, depending on the requirements of users, it is possible to find an optimal solution. The concept of the Vault12 project assumes that the user’s data are stored in pieces within the network of Guardians. Comparing the aforementioned solutions in the case of Vault12, users have to rely not on the servers and technology, but on the smartphone of the user’s related parties. The team is represented by 4 core team members. Further development of the Project assumes that the team will achieve project completion. After this, it will be possible to come to a conclusion on team competence. Advisors have relevant experience in blockchain and IT. As the project does not disclose the information on tokens, its role in the system is not obvious. The absence of token distribution and budget plans could be the consequences of the financial concept’s vulnerability. The project’s economics can be accessed when ICO details and Financial data are disclosed. Due to the lack of analysis information of tokens, the price is raw. After disclosure of the information for the public, factors could be reassessed.
Strength and Opportunities:The idea is original and not a simple copy-paste from an existing blockchain project. The investors into the project look incredibly strong. Among them are some of the brightest minds in cryptocurrency such as Naval Ravikant and the Winklevoss twins. There is a clear concept for monetization: Users should pay 100 USD per month as application subscription. However, this fee is relatively high, and it remains to be seen how many users would actually pay this amount. The market potential exceeds the classical cryptocurrency segment, since the team projects that other enterprises such as law firms will use the service.Weaknesses and Threats:The design of both, the storage system and the access system, is complex. Further, it is unclear whether users will prefer guardians for accessing their funds over the currently widespread hardware wallets, which give them direct control without any third party involved. The usage of traditional hardware wallets is still recommended by Vault12. Rather than creating a completely new type of storage, Vault12 is creating duplicate digital backup structures with a new access system.Verdict:The bright idea and the strong investor base provide a good outlook for the Vault12 ICO. The team is experienced and has a credible track record. These factors give reason for optimism in the short run. Achieving mainstream adoption for this new cryptographic asset storage system is still a very challenging task, and whether this will be achieved will determine the long term value of the token.
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