Unveiling of the 'Chainlock' at a prosperous event
In a groundbreaking presentation held at Palais Wertheim, Vienna, on November 26, 2018, OeSD showcased their latest innovation - the "Chainlock" private key solution. The event was attended by over 90 guests and included demonstrations of OeSD's innovative security products, such as the digital ID app MIA and the video identification procedure MICK.
The "Chainlock" private key solution is a highly secure solution developed by youniqx Identity AG, a subsidiary of OeSD. According to Lukas Praml, CEO of youniqx Identity AG, "Chainlock" brings the missing element of tamper-proof private keys to blockchain technology. This development is expected to open up applications in identity protection, art forgery prevention, and more.
The "Chainlock" private key solution is integral to blockchain’s trust and security model. It applies asymmetric cryptography and hash encryption to ensure secure, immutable transactions. The technology has matured alongside the blockchain ecosystem, evolving from basic cryptocurrency functions to diverse applications requiring secure, decentralized verification and authentication.
The core of chainlock private key solutions is asymmetric cryptography, involving a private key (confidential) and a public key (shared). The private key digitally signs transactions or data, while the public key validates the signature without exposing the private key itself. Transactions are secured using hash functions like SHA256, which create a digital fingerprint of the transaction data, ensuring data integrity and immutability across the blockchain.
The concept originated with the advent of blockchain technology, where securing transactions with private keys became fundamental to establishing trustless digital ledgers. Over the years, advancements improved scalability, security algorithms, and broader use cases beyond cryptocurrency to sectors like real estate, logistics, and critical infrastructure access.
Corresponding hardware and software implementations evolved, including APIs and SDKs, facilitating integration into business operations, IoT devices, and smart-locking systems offering battery-free, secure, and easy-to-manage access.
For more information about "Chainlock", please visit www.chainlock.com. Robert Schächter, CEO of OeSD, stated that "Chainlock" demonstrates OeSD's expertise in high-security printing and online solutions. A video presentation of the event can be accessed, but it requires acceptance of YouTube's privacy policy. A link to the photo gallery, credited to OeSD/APA-Fotoservice/Hörmandinger, is also available.
The "Chainlock" private key solution, a creation by youniqx Identity AG, a subsidiary of OeSD, enhances cybersecurity by bringing tamper-proof private keys to blockchain technology, facilitating applications in data-and-cloud-computing areas such as identity protection and art forgery prevention. This technology employs asymmetric cryptography and hash encryption, maturing along with the blockchain ecosystem to cater to diverse applications requiring secure, decentralized verification and authentication.
