What is EmblemVault ?

https://emblem.finance/vault?id=448690

How does it Work ?

Upon creation the Seed/Private keys are encrypted, sharded and split apart, to the EV NFT token and to Tor.us key infrastructure.

TL;DR

What stops the previous owner using the Private keys ?

Once the ownership has changed the previous owner has no access to the EV. It is required to sign the signature to Claim & destroy the EV within Metamask, if the current owner does so, it is impossible to further send an onward transmission. Each time the owner wishes to see the keys, they must enter Metamask to do so.

What are the Public and Private Vaults ?

https://emblem.finance/create

Does this mean that EV makes all Crypto’s into Privacy coins ?

If a public vault is used it can always be tracked from the outside explorers at the point of creation/claiming, however if the EV is swapped more than once, then those in the middle are untraceable. The outside will see BOB(1) funding the address and BOB(1) moving from it, not knowing it is a completely different BOB(5). A private vaults address/contents are hidden from view, so are unable to be associated with the EVM NFT.

What does it cost to make an EV ?

EmblemVault is owned by Circuits of Value (COVAL) ERC-20 Cryptocurrency token, it costs at present 250 COVALs to make, plus network Gas fees.

Why use it at all ?

Although using native Gas fee to send to the EV could prove more expensive than just sending to another address, one EV can store an unlimited amount of Cryptocurrencies that can be sent in one transaction, anyone that has the blockchain addresses can add to it also.

The Future !

EmblemVault is capable of holding ALL cryptocurrencies, and each blockchain will be getting added to the application.

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