Kresus brings a brand new wave of innovation to the Web3 ecosystem.
Kresus Labs, a developer of a brand new crypto pockets and Web3 SuperApp, has launched a crypto pockets that makes use of progressive Web2 know-how to remove the necessity for seed phrases and passwords.
Based on the press release share on Could eleventh, the pockets gatekeeps prospects’ non-public keys in an Amazon Internet Providers (AWS) {Hardware} Safety Module (HSM), using “magic hyperlinks” and 2FA for person authentication.
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What’s Ethereum 2.0? Upgrades Simply Defined With Animations
Conventional crypto wallets require customers to memorize or write down a restoration phrase or “seed phrases” throughout account setup. Lack of the restoration part and a tool failure typically result in everlasting account inaccessibility.
Attributable to this motive, some customers choose to maintain their crypto in change accounts, however occasions like FTX’s collapse have raised issues in regards to the security of such storage strategies.
Kresus Labs goals to sort out this challenge with its new pockets app, which makes use of a pockets infrastructure and software program growth package (SDK) referred to as “Magic.” The person’s non-public secret is saved on an AWS pc designed for extremely delicate knowledge storage.
Based on the Kresus staff, the AWS pc makes use of Grasp Key to encrypt the person’s key that can’t depart the {hardware} module, just like a {hardware} pockets. Thus, eliminating the necessity for seed phrases or non-public keys.
Kresus CEO and founder Trevor Traina defined that their purpose is to present an accessible, extremely safe resolution for skilled Web3 customers and newcomers hesitant to hitch because of lockout fears.
We’re actually attempting to supply one thing that’s actually a greater mousetrap for any Web3 person. The place you’ll be able to transfer your whole issues from a number of locations into one place, have or not it’s very accessible however extremely safe but additionally a gateway portal for individuals who aren’t comfy but on Web3 as a result of they’re terrified they’ll be locked out.
Kresus bypasses passwords for person authentication, as password hash theft and cracking are frequent hacking strategies. As a substitute, customers click on a hyperlink inside an e mail each time they log in. The app additionally employs 2FA to safeguard the account if the person’s e mail is compromised.
To ship crypto, customers can use a free .kresus area identify, launched in partnership with Unstoppable Domains, eliminating the necessity to copy and paste crypto addresses.
In different information, Unstoppable Domains lately partnered with Binance.US to create unique “.BinanceUS” domains.
Kresus brings a brand new wave of innovation to the Web3 ecosystem.
Kresus Labs, a developer of a brand new crypto pockets and Web3 SuperApp, has launched a crypto pockets that makes use of progressive Web2 know-how to remove the necessity for seed phrases and passwords.
Based on the press release share on Could eleventh, the pockets gatekeeps prospects’ non-public keys in an Amazon Internet Providers (AWS) {Hardware} Safety Module (HSM), using “magic hyperlinks” and 2FA for person authentication.
Do you know?
Subscribe – We publish new crypto explainer movies each week!
What’s Ethereum 2.0? Upgrades Simply Defined With Animations
Conventional crypto wallets require customers to memorize or write down a restoration phrase or “seed phrases” throughout account setup. Lack of the restoration part and a tool failure typically result in everlasting account inaccessibility.
Attributable to this motive, some customers choose to maintain their crypto in change accounts, however occasions like FTX’s collapse have raised issues in regards to the security of such storage strategies.
Kresus Labs goals to sort out this challenge with its new pockets app, which makes use of a pockets infrastructure and software program growth package (SDK) referred to as “Magic.” The person’s non-public secret is saved on an AWS pc designed for extremely delicate knowledge storage.
Based on the Kresus staff, the AWS pc makes use of Grasp Key to encrypt the person’s key that can’t depart the {hardware} module, just like a {hardware} pockets. Thus, eliminating the necessity for seed phrases or non-public keys.
Kresus CEO and founder Trevor Traina defined that their purpose is to present an accessible, extremely safe resolution for skilled Web3 customers and newcomers hesitant to hitch because of lockout fears.
We’re actually attempting to supply one thing that’s actually a greater mousetrap for any Web3 person. The place you’ll be able to transfer your whole issues from a number of locations into one place, have or not it’s very accessible however extremely safe but additionally a gateway portal for individuals who aren’t comfy but on Web3 as a result of they’re terrified they’ll be locked out.
Kresus bypasses passwords for person authentication, as password hash theft and cracking are frequent hacking strategies. As a substitute, customers click on a hyperlink inside an e mail each time they log in. The app additionally employs 2FA to safeguard the account if the person’s e mail is compromised.
To ship crypto, customers can use a free .kresus area identify, launched in partnership with Unstoppable Domains, eliminating the necessity to copy and paste crypto addresses.
In different information, Unstoppable Domains lately partnered with Binance.US to create unique “.BinanceUS” domains.
