Web3Auth, an infrastructure provider offering wallet-as-a-service solutions, has unveiled a noncustodial wallet extension integrated with Firebase. This extension employs a multi-party computation (MPC) framework to enhance the security of users' digital assets by splitting them into shards.
For users of Web3Auth, the available recovery methods include a manual backup of the device key shard, a one-time passcode sent via SMS, and recovery via email. However, it's important to note that Web3Auth has opted to support social logins exclusively as the recovery method for the Firebase extension.
"For an unparalleled performance to meet global demand, we needed a multi-region cloud infrastructure setup across the world at Web3Auth," Co-founder and CEO of Web3Auth, Zhen Yu Yong said in a statement. "This Firebase extension sits on top of Google Cloud."
Noncustodial Wallet Extensions
Web3Auth Launches a Firebase Wallet Extension for Enhanced Security
Trend Themes
1. Noncustodial Wallet Extensions - Web3Auth unveils a noncustodial wallet extension integrated with Firebase that employs a multi-party computation framework to enhance security.
2. Wallet-as-a-service Solutions - Web3Auth offers wallet-as-a-service solutions to provide secure storage and management of digital assets.
3. Multi-region Cloud Infrastructure - Web3Auth utilizes a multi-region cloud infrastructure setup across the world for enhanced performance and global demand.
Industry Implications
1. Blockchain and Cryptocurrency - Noncustodial wallet extensions and wallet-as-a-service solutions cater to the needs of users and businesses in the blockchain and cryptocurrency industry.
2. Cloud Computing and Infrastructure - The utilization of a multi-region cloud infrastructure setup demonstrates the importance of cloud computing and infrastructure in providing scalable and reliable services.
3. Digital Security - The integration of a multi-party computation framework in the noncustodial wallet extension highlights the significance of digital security in protecting users' digital assets.