Trust Wallet and Web3Auth Cooperation Brings a New MPC Solution for Account Security
On April 26, it was reported that Trust Wallet announced that it had reached a cooperation with Web3Auth and planned to deploy the MPC (multi-party computing) solution supported by
On April 26, it was reported that Trust Wallet announced that it had reached a cooperation with Web3Auth and planned to deploy the MPC (multi-party computing) solution supported by it to eliminate the current requirements for mnemonics, protect users from human errors and single point of failure, and thus strengthen account security. Users will be able to directly access the Trust Wallet service using their existing Google, Apple, Telegram, and Discord accounts. The MPC function of Trust Wallet is currently in the beta stage and is expected to be available to all users soon.
Trust Wallet collaborates with Web3Auth to deploy MPC solutions
If you’re an avid cryptocurrency user, then you must have heard of Trust Wallet. It is a mobile wallet that has been praised for its simplicity and functionality, enabling users to securely store and trade their cryptocurrencies. On April 26, Trust Wallet announced a new partnership with Web3Auth that will further enhance users’ account security by introducing the MPC (multi-party computing) solution.
Trust Wallet’s Partnership with Web3Auth
Web3Auth is a decentralized digital identity project that focuses on secure and private authentication. The collaboration between Trust Wallet and Web3Auth aims to deploy the MPC solution to eliminate the current requirements for mnemonics.
The MPC solution is supported by Web3Auth’s open-source library, which enhances privacy and security by enabling decentralized authentication. This means that users’ data is not centralized, and transactions are verified on the user’s device instead of on a centralized server.
The Benefits of Using the MPC Solution
As mentioned earlier, the MPC solution will help protect users from human errors and single points of failure, strengthening the overall account security. With MPC, users can access the Trust Wallet service directly from their existing Google, Apple, Telegram, and Discord accounts.
The beta stage of the MPC function is already underway, and it will soon be available to all Trust Wallet users. Once available, users will be able to enjoy an added layer of security without requiring any additional effort.
The Future of MPC and Account Security
The web3 industry is surrounded by the constant threat of hacks, scams, and cyber attacks. The Trust Wallet and Web3Auth partnership is a step in the right direction to combat these threats and ensure that users’ assets are secure.
The MPC solution will eliminate the current requirements for mnemonics, making the wallet easier and more convenient to use. Trust Wallet users will be able to access their accounts without worrying about the safety of their mnemonics or losing access to their accounts due to a single point of failure.
Conclusion
In summary, the partnership between Trust Wallet and Web3Auth will bring a new MPC solution that will enhance users’ account security. The use of MPC eliminates the need for mnemonics and reduces human error, making the wallet more convenient and user-friendly. The beta stage of the MPC function is already underway, and it will soon be available to all Trust Wallet users.
FAQs
Q1. What is Trust Wallet?
A1. Trust Wallet is a mobile wallet that allows you to securely store and trade cryptocurrencies.
Q2. What is MPC?
A2. MPC stands for multi-party computing, a solution that enhances account security by eliminating the need for mnemonics and reducing human error.
Q3. When will the MPC function be available to all Trust Wallet users?
A3. The beta stage of the MPC function is already underway and will soon be available to all Trust Wallet users.
This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/18722/
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Recommended articles
-
Impending Tether Ban
12:00-21:00 Key words: Tether, FSB, Hong Kong, EU
Overview of important developments in the evening of February 16
Interpretation of the news:
… -
The Need for Consistency in Encryption Laws for Banks in the Euro Area
According to reports, in its annual report released on Tuesday, the European Central Bank stated that due to differences in encryption laws in the region, the requirements for encr
-
Voyager Address Transfers 249.5 Million USDCs: What Does This Mean?
According to reports, according to online data analyst ember monitoring, the Voyager address has again transferred 99.5 million USDCs to Cisco today, and a total of 249.5 million U
-
Bybit and Talos Form Dynamic Partnership to Simplify Institutional Access to Cryptocurrency Market
On March 2, the encryption exchange Bybit announced the establishment of a dynamic partnership with institutional digital asset trading technology provider Tal…
-
The Mystery of SyncSwap’s Airdrop Allocation
On April 10th, it was reported that the SyncSwap Chinese account and its operators released information related to project airdrops, which mentioned that token allocation of airdro
-
What type does Bitcoin miner belong to (What is a Bitcoin miner)?
What type does Bitcoin miner belong to? What type does Bitcoin miner belong to?
-
On March 31, Liao Min: Full Utilization of Financial Data for Digitizing the Financial System
On March 31, Liao Min, Deputy Director of the Office of the Central Financial and Economic Commission and Deputy Minister of Finance, stated at the \”Financial Infrastructure and Fi
-
ZkSync: Twitter account has been hacked, please do not believe it until confirmed by Matter Labs and its CEO
On April 14th, zkSync tweeted that the Twitter account had been hacked, reminding users not to trust the account information until confirmed by Matter Labs, its co creators, and CE
-
Redeem secures $2.5M pre-seed financing to simplify NFT ownership
It is reported that the blockchain company Redeem announced the completion of $2.5 million pre-seed financing, led by Kenetic Capital. It is reported that Rede…
-
Why Trust is Crucial in the Metaverse and Web3 Environment
According to reports, Daniel Alegre, the new CEO of Yuga Labs, stated at the \”2023 Consensus\” conference on Friday that players want to participate in the creative environment of t
-
DeFi’s Dominant Position in the Cryptocurrency Market
According to reports, DeFi\’s dominant position (i.e. its share of global cryptocurrency market value) has reached a new low since July last year.
Data: DeFi\’s dominant position has -
Germany to approve regulations for the issuance of ‘crypto stocks’
According to reports, this week, the German Ministry of Finance announced the \”Future Financing Act\”, which mentions the digitization of the capital market and the use of blockchai
-
TransUnion to Provide Credit Ratings for Decentralized Finance Lenders
According to reports, TransUnion, one of the three major credit institutions in the United States, will provide credit ratings for decentralized finance (DeFi) lenders. TransUnion
-
What does renting computing power mean (rental billing software)?
What does renting computing power mean? In the field of networking, computing p
-
What is a mining pool (alternative name for mining pool)?
What is a mining pool? A mining pool is a distribution of mining profits based
-
The Future of PancakeSwap DAO: What the Vote on “Reducing Block Rewards” Means for the Crypto Community
On April 29th, it was reported on the governance page that the vote on the PancakeSwap DAO proposal to \”reduce block rewards\” has ended. The \”actively reducing\” proposal received a