Wallets and security
Original's allows you to seamlessly integrate an NFT user experience into your app (whitelabel, without crypto, transaction prompts or gas fees) with the blockchain fully abstracted and without compromising security so you can focus on building the best experience for your users.
With Original's wallet you can:
- Add web3 capabilities to your website, desktop or mobile or app easily. You can create wallets for your users at anytime and allow them to visualize, mint and transfer NFTs easily.
- Hide all UX complications associated with blockchain: no passphrases, no transaction prompts, no gas fees for your users, automatically retry transactions if they fail, and allow NFT asset recovery if your users lose their accounts.
- Continue to use your existing Auth so you don't change your onboarding.
- All with best-in-class security: wallet private keys are secured - they are managed using DFNS the same MPC technology used to custody billions of dollars for financial institutions. DNFS obtained the SOC 2 Type 2 certification from Deloitte. In fact, Dfns is one of the few MPC (Multi-Party Computation) wallet infrastructure platforms that has demonstrated to a Tier 1 auditor, a high level of operational security and reports on controls, showing their commitment to the highest compliance and security standards.
Security
At Original we are using Multi-Party Computation" (MPC) wallets.
Multi-Party Computation", (MPC) wallets are using cryptographic protocols to split and distribute private keys among multiple parties securely without revealing them to others.
Private keys are split into “shares” and distributed to each party that has control over the wallet, ensuring that no single party can control the wallet. Transactions can be authorized by multiple shares, not all, enhancing the security and availability of the wallet, while eliminating single points of failure.
Benefits of MPC Wallets
MPC wallets offer several benefits, such as:
Decentralization
MPC wallets do not require any trusted third party to store or access the private keys, as they are distributed among the multiple parties involved in the MPC protocol. This reduces the risk of centralization, corruption or collusion that may compromise the security or availability of the stored assets.
High Accuracy
MPC wallets also provide high accuracy for different computations using cryptography. This means they can perform complex operations such as generating addresses, signing transactions and verifying signatures without errors or inconsistencies.
Removes Single Points of Failure
MPC wallets eliminate single points of failure that may exist in other types of wallets, such as single-key, multi-signature or hardware wallets. These types of wallets may suffer from loss or theft of private keys, unavailability of key parties, malfunction of devices, or hacking or phishing attacks. MPC wallets overcome these challenges by splitting and distributing the private keys among the multiple parties involved in the MPC protocol.
Compliance
MPC wallets support compliance with global regulations and industry standards for digital asset custody. They can adhere to audit and reporting obligations by providing transparent records and logs of transactions, as well as follow industry best practices for security and governance through their policies and procedures.
Updated about 1 year ago