Reinventing the Crypto Wallet

The current state of crypto wallets leaves much to be desired when it comes to security and user experience.

Managing complex seed phrases and private keys places a heavy burden on users to safeguard their digital assets. However, Sonr is leveraging cutting-edge cryptography to completely redefine the concept of a digital wallet, making self-custody easier and more secure than ever before.

Eliminating Seed Phrases with Multi-Party Computation

One of the key innovations Sonr brings is the use of secure multi-party computation (MPC) to protect private keys. With MPC, a user's private key is split into multiple shares that are distributed across different parties or devices. Transactions can only be signed when a threshold of these parties come together to reconstruct the key.

This completely eliminates the need for users to manage a seed phrase. Even if a share is compromised, the attacker cannot steal the funds without the other shares. It provides a much higher level of security compared to traditional single-key wallets.

Passwordless Authentication with Passkeys

In addition to MPC, Sonr integrates WebAuthn and the FIDO2 protocol to enable passwordless authentication using passkeys. Instead of relying on a username and password, users can login and authorize transactions using biometrics like FaceID or TouchID, or a physical security key.

Passkeys are not only more convenient, but also are far more resistant to phishing and other attacks compared to passwords. By combining passkeys with MPC, Sonr makes the self-custody user experience as simple and secure as using a mainstream web2 app.

Interoperable Identity and Assets

Sonr leverages decentralized identifiers (DIDs) and verifiable credentials (VCs) to provide an interoperable identity and authentication layer. This means users can use their self-custody wallet as a single sign-on to access any web3 dapp or even web2 services.

The assets and data associated with the user's decentralized identity are portable across blockchains and applications. Sonr aims to be the unifying wallet for all of a user's digital interactions.

The Future of Wallets

Sonr's approach addresses the key problems facing crypto wallets today - weak key management, poor user experience, and fragmented identity and assets. By combining MPC, passkeys, and DIDs, Sonr is creating a next-generation wallet that can bring self-custody to the mainstream.

As more users and developers adopt Sonr's infrastructure, it has the potential to become the default portal for interacting with the decentralized web. Sonr is not just reinventing the crypto wallet, but laying the foundation for a more secure and user-friendly web3 ecosystem.