A New Wallet Paradigm
✨ Reimagining web3 onboarding with Wallet-as-a-Protocol (WaaP)
Last updated
✨ Reimagining web3 onboarding with Wallet-as-a-Protocol (WaaP)
Last updated
Wallets-as-a-Service (WaaS) and Account Abstraction (AA) you can wallets for your users quickly and easily. However, the current ways of using WaaS and AA leaves outstanding issues that significantly challenge dApp growth and user security:
Innovations in WaaS have come with a cost:
Expensive SaaS fees
Lock-in to particular dapps
Security
Arguable definitions of self-custody
Is there a way to do one-click sign-in without these issues?
At it's core, Silk:
Does not trust the browser, or even the user, with key storage
Allows universal composability, i.e. usage of same embedded wallet across multiple dapps, by removing trust of any particular dapp
Combines cryptography with policies to eliminate the tradeoff between security and good UX
Assumes the user always could be compromised (or dumb)
By combining 2PC with policies, Silk allows easy onboarding with self-custody and intelligent risk detection. Silk uses 2PC for noncollusive distributed control over the wallet. Silk will support 2PC-MPC as well to reduce dependency on any company to host the infrastructure. Silk has strict controls over iframe capabilities to prevent dApps from signing transactions without user consent, which allows secure use across multiple dApps without having to generate separate keys for each dApp.
Silk is more than just an embedded wallet - it’s a universal account that works across dApps, platforms, and blockchains and redefines how we access and secure our digital lives. By combining the simplicity of traditional web accounts with the advanced security of decentralized cryptographic systems, Silk creates a seamless onboarding experience for users and a powerful tool for developers.
Silk delivers the ease-of-use of WaaS with superior security and resilience:
Universal: No lock-in to a single dApp or ecosystem.
No Fees: Free to use and integrate, with no SaaS fees or billing systems.
Hardware-level Security: 2PC keeps your private key secure and resistent to collusion.
Gas Tank: No need to hold native tokens for every chain.