Benzinga - by Murtuza Merchant, Benzinga Staff Writer.
Wallet-as-a-Service (WaaS) provider Web3Auth has joined forces with onchain asset custody protocol Safe to introduce SafeAuth, in a bid to streamline the process of creating and using crypto wallets.
The goal is to improve user accessibility and security in the blockchain ecosystem.
How It Works: It utilizes social logins secured by Multi-Party Computation, a method that eliminates the traditional reliance on seed phrases.
This approach not only enhances user convenience but also bolsters security measures, Web3Auth stated.
"By integrating Web3Auth's innovative social login technology with Safe's pioneering account abstraction, we're elevating the crypto experience, significantly enhancing user convenience,"
Safe co-founder Tobias Schubotz said. "This partnership marks an important step in our journey towards an accessible, interoperable, and portable blockchain ecosystem ready to serve millions of users worldwide.”
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The core feature of SafeAuth is its interoperability, which allows users to bridge and connect across a wide array of decentralized applications (dApps) using a single smart account.
This functionality is akin to using a single social login or email across different online platforms.
SafeAuth enables users to interact with over 190 applications, including well-known ones like Aave (CRYPTO: AAVE) and CowSwap, through various interfaces.
Web3Auth CEO Yong Zhen Yu expressed enthusiasm about the collaboration, saying, “The real game-changer is the interoperability SafeAuth brings, allowing existing and future dApps to interact more fluidly than ever before.”
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