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
-
Feasibility of Digital Japanese Yen: Expert Meeting by Japanese Ministry of Finance
According to reports, the Japanese Ministry of Finance held its first expert meeting on the feasibility of issuing a legal tender in the form of electronic data, the \”digital Japan
-
Star Trek Actors Release NFT “Infinite Connections”
According to reports, \”Star Trek\” actor William Shatner officially released his NFT \”Infinite Connections\” at the Consensius 2023 conference in CoinDesk.
Star Trek Actors Release N -
What is TGC Coin
TGC Coin, according to official sources, is a type of digital currency based on
-
OpenSea Dominates NFT Market Trading Volume
On February 22, the data showed that the trading volume of OpenSea in the NFT market soared 15 times to 135000 ETHs on February 20, significantly exceeding the…
-
OpenAI: What Happened on April 24th and What Does It Mean for AI?
On April 24th, according to data from the interruption tracking website Downdetector, over a thousand users reported usage issues with Open AI on the evening of April 23rd Eastern
-
Sun Yuchen: Team members unintentionally used a portion of TUSD to participate in redemption activities, and have contacted the team for a full refund
According to reports, Sun Yuchen responded to Zhao Changpeng on Twitter that as a partner market maker of TUSD, TRON DAO Venture\’s main purpose of depositing into TUSD is to promot
-
Bitcoin Price Plummet Triggers Liquidation and Increased Trading Volume
According to the news on March 4, the price of Bitcoin fell to below the $23000 mark on March 2. This decline led to a long liquidation of various cryptocurren…
-
US Bitcoin ATM Company and Executives Accused of Operating Unlicensed Kiosks for Cryptocurrency Fraud Victims
On March 6, a US Bitcoin (BTC) ATM company and its executives were sued for allegedly operating self-service kiosks without a license in Ohio. These self-servi…
-
What is the bft Consensus Mechanism?
The bft consensus mechanism is a kind of digital asset that is issued and circu
-
Donald Trump’s NFT Series Trump Digital Trading Cards Series 2 Sells Out for $4.6 Million
According to reports, Donald Trump reported on the social media platform Truth Social that his newly launched NFT series Trump Digital Trading Cards Series 2 has sold out a total o
-
Curve Finance reaches $1 billion in one-day trading volume
On February 14, according to the disclosure of Curve Finance on social media, the one-day trading volume of its agreement exceeded $1 billion. In addition, Cur…
-
China Prioritizes Future Industry Development
It is reported that Jin Zhuanglong, Minister of the Ministry of Industry and Information Technology, said that the future industry would be prospectively arran…
-
Foreign media: Due to Sun Yuchen’s alleged fraud, it may be more difficult for the SFC to approve the Huobi license application
On March 28th, according to a report by Nikkei Asia, although Sun Yuchen believes that the fraud allegations made against him by US regulators will not affect the license applicati
-
Beijing National Financial Technology Certification Center Certifies First Batch of MPC Technology Financial Applications
According to reports, the Beijing National Financial Technology Certification Center recently announced the first batch of products and version information that have passed multi-p
-
IRS Launches Pilot Program to Combat Cryptocurrency-Related Financial and Tax Criminal Activities
According to reports, the US Internal Revenue Service (IRS) has announced a new pilot program starting this summer and will dispatch four commissioners to Australia, Singapore, Col
-
Bitcoin Opportunity Fund: Aiming to Cater High Net Worth Investors
According to a report from Bloomberg, multiple investors plan to raise $100 million to launch the Bitcoin Opportunity Fund, aimed at catering to high net worth investors who want to invest in the world’s largest cryptocurrency. Several investors plan to raise $100 million to launch Bitcoin Opportunity Fund Analysis based on this information:In a recent report from Bloomberg, it was revealed that a group of investors are planning to launch the Bitcoin Opportunity Fund to raise $100 million. The objective of this fund is to cater to high net worth investors who are interested in investing in the world’s largest cryptocurrency, Bitcoin. This development comes at a time where Bitcoin is experiencing a tremendous surge in value and interest, with its price hitting all-time highs in the past few months. The Bitcoin Opportunity Fund is expected to provide a unique investment opportunity for high net worth investors by providing exposure to the potential benefits of investing in Bitcoin. The goal…