Innovative cryptocurrency storage platform, Gridlock, awaits patent

Gridlock, a new storage platform for cryptocurrency and digital assets has applied for a patent just ahead of the launch of the company’s Testnet release.

Last month, Gridlock secured a £20,000 grant from the Business Innovation Fund, which will greatly support the product’s development and help the company expand the assets the platform can support. Now, the pending patent marks another big step forward in Gridlock’s journey.

The patent highlights Gridlock as an advanced and distinctive digital asset platform — beyond the typical centralized cryptocurrency wallet. The soon-to-be-patented combination of advanced cryptography, threshold signatures, and distributed key generation sets Gridlock aside from all current cryptocurrency storage options.

Unlike centralized exchanges, the cryptocurrency owner is in complete control of their assets. Moreover, Gridlock’s user-friendly interface offers the ease of a third-party option. The best of both worlds, this innovative platform is more secure and private than other options available on the market at this time.

The world of digital assets is growing — as are concerns over exchange hacks and the user challenges associated with personal wallets. It’s clear that a new, secure, truly decentralized solution is necessary. Gridlock’s patent brings this solution one step closer to the market.

Keen users will be able to get a first look at the nearly-patented technology by signing up as a Beta tester. Gridlock will be live on Testnet on the 14th of June. Interested parties can sign up to the Gridlock mailing list or Discord server for more details.