The Gem platform provides simple and secure management of cryptocurrency wallets.
Simple: because GEM API and client libraries manage the complexity of working with a digital currency, while presenting a high level interface that is easy to use.
Secure: because Gem wallets use multi-signature and Hierarchical Deterministic Wallets with granular rulesets and multi-factor authentication.
- Transactions from a Gem wallet require two signatures for authorization, one from a private key held by Gem, and one from a private key held by the wallet owner.
- The wallet owner also has a third private key, intended for offline backup, that allows the cosigning of transactions without Gem involvement.
- Multisignature scheme for cryptocurrency processing
- The risk of theft is mitigated, because it requires compromising two keys.
- Gem cannot spend from a wallet without the owner’s authorization since we hold only one key.
- The wallet owner does not require Gem’s authorization for expenditures.