In the context of digital asset management, a secure implementation requires a minimum set of components:
- The absolute confidentiality of the key material
- Integrity guarantees of the transaction authorization processes
- Flexibility and adaptivity of the governance protocols
- Simple and transparent processes limiting human-related threat vectors
- Worst-case loss limitation policies to prevent catastrophic events
- Strict disaster recovery procedures
- Capability to insure the assets under management
SILO has been engineered to provide a unified solution to these above challenges. It relies on certified tamper-proof hardware (FIPS 140-2 level 3) which—in addition to traditional HSM that only protect the key material—uniquely enforces the execution of all critical workflows in its purpose-built, hardware secure enclave.
Through the tight interaction of software and hardware security, SILO offers the following functionalities, all enforced at the hardware level.
Key management
- Generation and backup of key material
- High-entropy cryptographic secure random number generator
- Offline backup of the key material (split into multiple shares) for disaster recovery
- HD key derivation for wallets and addresses
- Based on BIP0032, BIP0044 and SLIP0010
- Hardened and non-hardened derivation
- Wide set of cryptographic algorithms
- secp256k1, secp256r1, ed25519 and many other algorithms
- Post-quantum cryptography and extensible to new cryptographic algorithms
Governance and loss limitation
- Signature approval: single or multi-signature with advanced schemes
- Loss limitation policies
- Velocity limits: maximum transaction outflow per unit of time.
- Time-locking: minimum waiting period before transaction validation and broadcast
- White-listing: trusted destination addresses (within/outside wallet ecosystem)
- Role-based access and rights
- Enforcement of strict validation rules for the authorization of order requests
Fully insurable platform
SILO is the first insurable digital asset storage solution. A panel of London insurers arranged by Aon will offer underwriting terms to clients using SILO to protect their assets under management in hot, warm, and cold storage.
