📚Glossary

Protection Plans

A protection plan refers to the secure and decentralized method for users to safeguard their data in an encrypted manner via Inheriti®.

Data backup plan

A protection plan that enables users to create decentralized backups of their digital data. It allows for the storage and protection of various types of information, similar to a digital inheritance plan. The plan owner has the option to be a shareholder and can determine mutiple shareholders. The plan is activated through the plan trigger method.

Digital inheritance plan

A protection plan designed for the inheritance of digital data. It allows the plan owner to designate heirs and a merge authority while utilizing the Dead Man Switch activation method to ensure secure transfer of assets.

Main Roles

Plan owner / Plan initiator

Refers to the individual who creates and has overall ownership and control of a specific protection plan.

Merge authority (MA)

The merge authority is one of the beneficiaries (shareholders or heirs) responsible for initiating the merging process within a protection plan.

Beneficiaries

Beneficiary is an overarching term used to refer to all individuals who hold shares of a protection plan. It encompasses designated individuals who are entitled to receive the benefits or assets specified in the protection plan.

Heir

An heir is a beneficiary designated to inherit digital assets within an inheritance plan.

Shareholder

A shareholder is a specific type of beneficiary designated to have a share in the encrypted data backup within a backup plan.

Plan Shares

Plan shares are created for each beneficiary in pairs. These shares contain encrypted and split portions of the secret data. Each beneficiary receives at least one package of two plan shares, allowing them to collectively access and recover the data.

Recovery Share

Recovery shares are optional and can be added based on the number of shareholders involved. Like plan shares, recovery shares are created in pairs. They serve as a contingency measure in case a beneficiary loses their plan shares. Recovery shares are stored alongside the validator share in the same Inheriti® smart contract, providing an additional option for data recovery.

Validator Share

The validator share is associated with the activation method chosen for the protection plan. This share remains securely stored in the Inheriti® smart contract until all specified activation methods are triggered. It is only released when the plan owner is confirmed deceased or has no objections to opening the protection plan. The validator share adds an additional layer of security and ensures proper authorization before accessing the protected data.

Storage Layers

Inheriti® uses multiple storage layers to ensure enhanced security and decentralization.

To accomplish this, we use the Secure Share Distribution Protocol (SSDP). SSDP is a patented protocol, invented and utilized by Inheriti® for the secure distribution of shares or fragments of encrypted data to the designated beneficiaries of a protection plan.

Cold Storage

SafeKey Pro acts as a secure cold storage device for storing the data shares of protection plans created via Inheriti® offline.

Mobile Storage

An alternative to the cold storage provided by SafeKey Pro. With SafeKey Mobile, you can securely store your shares of protection plans created with Inheriti® directly on your mobile phone.

Cloud Storage

Currently, Inheriti Vault® only temporarily stores mobile plan shares until claimed by beneficiaries through the SafeKey Mobile app. Once claimed, shares are removed from the vault.

Blockchain Storage

Validator and recovery shares are stored securely on a blockchain, preventing unauthorized access to protection plans. The immutable nature of blockchain ensures authenticity and safety.

Activation Methods

Activation method is the overarching term to describe the methods employed within protection plans to initiate specific actions or events. Each activation method has a countdown timer that starts when the merge authority initiates the merging process.

All methods need to be triggered within their specified time to release the validator share and enable the merge authority to proceed with opening the protection plan.

Dead Man Switch

The Dead Man Switch is an activation method used in inheritance plans. It serves as a verification mechanism to confirm the status of the plan owner and gets triggered if a required action is NOT taken before the configured timer hit 0.

= Approve merging by NOT taking action (plan owner is dead)

Plan Trigger

The plan trigger is an activation method employed in backup plans. It acts as a security feature to verify the owner's agreement for the data to be opened and gets triggered if a required action IS taken before the configured timer hit 0.

= Approve merging by taking action (plan owner approves)