Throughout the pandemic, companies and individuals were quick to adapt and move whatever was possible online. Instead of meeting friends for drinks, we hosted zoom drinks, and meetings happened remotely facilitated by video conferencing software.
But even prior, sensitive data had been stored primarily in centralized servers of finance, social media, energy, and other companies. Last year, we witnessed 3950 data breaches, and these are just the confirmed ones. It puts a spotlight on the need to protect our data in better ways.
We rely on centralized storage because it’s convenient, and Web2 was built on it. However, we often give up control over what happens with our data if it’s sold to advertisers or disclosed to other third parties. If you think you have nothing to hide, then you should carefully check your entire Google search history and think again.
As the world moves to be more digital, data sovereignty becomes increasingly essential — being in control over what you share and when will be crucial in ensuring a fair digital economy.
While blockchain is often seen as the perfect solution to such problems, experts see a looming threat from quantum computers that could break through the encryption mechanism.
Crown Sterling
That’s where Crown Sterling comes in.
The company is on a mission to enable individuals to claim, protect and control their personal data. They do so by providing the world’s first quantum-resistant digital asset and a blockchain-tokenized ecosystem that will withstand any quantum computer. Headquartered in the US, the company delivers next-generation cryptography, random number generators and other encryption products.
CrownEncryptOTP
The team has developed the CrownEncryptOTP, an enhanced One-Time-Pad encryption that allows for the practical and scalable implementation of One-Time-Pad encryption.
One Time Pad (OTP: is an encryption technology that was initially described in 1982 by Frank Miller. In 1917 it was reinvented. It’s a technology that cannot be cracked; however, it requires the use of a single-use pre-shared key that is no smaller than the message being sent. It results in a truly unbreakable cypher named after the sheets of paper (pads) on which key streams used to be printed. During the cold war, spies commonly relied on OTPs to send messages through radio.
While the gold standard for encryption, because the key has to be at least as long as the message being sent, it has so far been challenging to implement OTPs in a scalable manner. Crown Sterling circumvents this issue by using irrational numbers that enable shortened keys and gradient descent supervised machine learning to ensure that no key is ever used twice.
Thanks to these tweaks, CrownEncryptOTP is scalable and resilient to cracking, even when eventually quantum computing comes along. As long as the following conditions are met, they won’t be able to decode encrypted messages:
- truly random
- at least as long as plain text
- never reused in whole or part
- kept completely secret.
One of the challenges with OTPs is that they require sharing the key ahead of the message with the receiver. Using CrownEncryptOTP, users share the numbers from which the keys are derived instead of the actual key, making them a lot smaller and easy to exchange.
Crown Sovereign
CrownEncryptOTP finds one of its first implementations in the native blockchain that the Crown Sterling team developed: Crown Sovereign. Using their in-house encryption ensures that underlying data, including users’ financial transactions and wallets, are protected at all times.
With Crown Sovereign, users can securely transact while maintaining control over their data. To pay for the secure transmission of data, they use the native token: CSOV. The total supply of CSOV is capped at 10 billion tokens, out of which 78.10 have been allocated to investors, private sales, employees with a local up period of 1 year and 20% are still locked for future use by the crown sterling foundation.
The locked tokens will enter the market slowly over one year until July 2022, all have been released. Tokens can be stored in the Crown Sterling native wallet, enabling users to hold their tokens, store NFTS, and share encrypted messages and data.
Crown Sovereign is built using the RUST programming language and runs on top of a Polkadot substrate. The native blockchain runs a Proof-of-Stake consensus algorithm to ensure a block time of 6 seconds, guaranteeing a smooth user experience.
Crown Sovereign is the brainchild of Robert Grant and a team of mathematicians who’re passionate about data sovereignty and empowering users to control their data. They included a Data Bill of rights in the genesis block, which states that digital assets are the intangible personal property of the original producer.
CSOV the native currency is trading with USDT and BTC pairs on FMFW.io
