Security has long been an issue with cryptocurrency trading, mainly due to hackers being able to access the private keys supposed to keep them out of the wallets where the crypto is stored.
This is where biometric encryption comes into play. Biometric identification involves the use of biological identifiers, the most of common being:
- palm or finger vein patterns
Those factors are then further defined by the following characteristics:
- Must be unique.
- A factor that is permanent.
- Easily obtained.
- Difficult to circumvent.
- Acceptable factor in the user’s system.
Those factors and characteristics have come together to help solve the security issue around cryptocurrency wallets. The Klever wallet has such a wallet in the works and Crypto.com has a DeFi Wallet that allows you to enable biometrics.
The prize for the first Web 3.o crypto wallet goes to ZenGo.
ZenGo is the first consumer-focused web 3.0 crypto wallet powered by multiparty computation (MPC), eliminating private key vulnerabilities, ensuring on-chain user control and simplifying secure account recovery.
ZenGo, the world’s leading simple and secure crypto wallet app powered by MPC technology, announces support for the WalletConnect protocol on the Ethereum blockchain becoming the first multi-chain web 3.0 crypto wallet with account phishing protection and seamless wallet recoverability.
Every week, countless users lose funds because of private key phishing attacks via emails and social networks. In an industry-first, ZenGo’s MPC technology and five unique patents offer a secure bridge to web 3.0from NFTs and DeFi, to gaming and DApps by eliminating seed phrases and private keys from the wallet experience.
Leveraging ZenGo’s MPC security, users cannot compromise their own assets because of the usual pitfalls caused by private keys and poor key management. If the phone storing the wallet gets lost or stolen, ZenGo’s wallet recovery kit ensures stressless recovery, thanks to multi-factor biometric recovery.
ZenGo’s move to support the web 3.0 ecosystem will make it simpler and safer for crypto-native and crypto-curious users to mint, trade, store NFTs, get yield in DeFi, enjoy decentralized games, contribute to DAOs and more.
Ouriel Ohayon, co-founder and CEO of ZenGo, said,
“ZenGo is committed to offering a uniquely human and zen user experience in an industry that is still chaotic, complicated and confusing. To onboard the next one billion, we need products that provide a delightful, simple and secure user experience. ZenGo’s integration with WalletConnect is a massive step forward for web 3.0 adoption and crypto as a whole.”
Until now, web 3.0 was only accessible via traditional, non-custodial walletscomplicated, confusing, difficult and risky to recover and challenging to secure.
ZenGo’s WalletConnect integration on Ethereum offers seamless access to web 3.0, opening the door to anyone who wants to participate in NFT and DeFi without the risks of private key management and unreliable wallet recovery. ZenGo will support additional blockchains with WalletConnect soon.
ZenGo is a simple and secure crypto wallet app. Download the first web 3.0 wallet with no seed phrase to babysit or lose, secured by encrypted biometrics. Buy, trade and earn up to eight percent interest on your crypto assets. Connect to NFT and DeFi DApps. Stay zen with their 24/7 in-app customer support.
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