The emergence of multiple projects is one of the signs that we are entering a bull run. Projects building during the bear market see the bull market as the best time to get more engagement and customers for their services.

However, not all new, emerging projects have sustainable value. Some are simply overhyped projects. One of the ways to know a project’s worth is to evaluate its real-world application, use cases, and narrative. Our project of interest, Serenity Shield, ticks all the boxes of a worthwhile project.

Serenity seeks to solve the problem of inheritance in the blockchain space. The project is a privacy-preserving decentralized application. One of Serenity’s main focus areas is crypto wallets and the assets stored within them.

There’s been significant improvement in the blockchain security infrastructure. Most projects have secure strategies to protect users’ wallets. However, regardless of the measures, there are often loopholes that put users’ assets at risk. Most of these issues have to do with inheritance.

Serenity is concerned with wealth management. The team previously said the project will focus on private key ownership and “real issues of managing large sums of wealth with blockchain technology.”

The Big Problem 

As mentioned earlier, several projects are taking steps to address blockchain security concerns. Most platforms allow users to store their assets without a middleman custodian. However, some users tend to forget their passwords or suffer hacks. But the most pressing of these issues is the problem of inheritance: how do you pass down your crypto assets?

How can you provide your family members access to your cryptocurrency holdings worth thousands or even millions of dollars? Self-custody struggles with the inheritance of crypto assets because security-conscious users frequently forget to make arrangements for the unexpected. Often, the bereaved family members are unable to access their relative’s inheritance, thus locking the assets away for good.

The Serenity Solution

Serenity Shield has built the first non-custodial seed recovery system. This solution features ways users can nominate heirs to their assets and pass their wallets down. There are hundreds, or possibly thousands, of crypto wallets whose holders have possibly passed on or suffered some misfortune. 

The funds contained in the wallets are mostly gone, with no one able to access them. But with Serenity’s Digital Asset Legacy (DAL), a system for designating heirs and transferring the wallet, this can be resolved.

Here’s how it works: Serenity has a tool known as “Strongbox.” This app divides a user’s cryptocurrency wallet into three non-transferable, non-fungible tokens (NFTs). So, each NFT holds a secret key needed to access the wallet. Having access to at least two of the three NFTs will enable you to view the phrases stored within. Three parties receive the NFTs.

  • The user
  • A person of their choice (the nominee)
  • the smart contract of Serenity Shield in its Vault

When configuring their Strongbox, users have the option to set up various conditions, such as inactivity or active notifications you need to respond to, to guarantee that the original user retains access to the wallet.

Furthermore, the Serenity Wallet runs on the Secret Network, a blockchain that supports private data storage, to guarantee the confidentiality and privacy of the users’ secret passphrases.

Also, Serenity Shield is a completely automated smart contract platform. So, the crypto inheritance activates without the need for any legal middlemen. This eliminates the difficulties associated with inheriting digital assets and combines entirely non-custodial procedures with the flexibility and ease of traditional Web2 authentication.

Here are some of the advantages of using Strongbox

  • It has a focus on privacy.
  • It is decentralized.
  • There is no need for a middleman.
  • It runs on the Secret Network for adequate security.
What’s next on Serenity? Token listing! 

Serenity plans to list its native token, SERSH, on Gate.io AND MEXC on December 18. Here are the details of the listing:

  • Token name: Serenity Shield
  • Token symbol: $SERSH
  • Max Supply: 100,000,000 SERSH
  • Token Type: BSC
  • Token Contract: 0xFBd68BA45Eb0ec386046243F50a22B2535019c79

Visit Serenity’s website for more information on the listing. In conclusion, the Serenity Shield provides an important service to the market. In today’s world, where data is easily exposed and compromised, Serenity offers an extra layer of safety. There is an increased demand for privacy and data control. This puts Serenity in a position of power and relevance. 

Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. This article is sponsored by Serenity Shield.
Copyright Altcoin Buzz Pte Ltd.

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