OKX Web3 Wallet Launches as MPC Keyless Wallet

04/04/2023 04:16 • Daily Digest • 99 views

According to reports, Xu Mingxing tweeted that the OKX Web3 wallet has been launched as an MPC keyless wallet. It is reported that the keyless wallet is based on MPC technology and is the first 2/3 multi chain keyless wallet on the market, supporting 37 public chains. It also pioneered the emergency exit function, which allows users to export private keys and withdraw assets through two pieces of private keys that are completely managed by themselves in an emergency scenario, realizing a truly decentralized self managed wallet without private keys. Users can easily create this wallet using their OKX account without the need to manage complex private keys or mnemonics.

OKX Web3 wallet has been launched, MPC keyless wallet

Introduction

In the world of cryptocurrency, security is always a top priority. With the increasing popularity of cryptocurrencies, the need for secure wallets has become more important than ever. OKX, a well-known cryptocurrency trading platform, has launched its new Web3 wallet as an MPC keyless wallet. This wallet is based on MPC technology and is the first 2/3 multi-chain keyless wallet on the market, supporting 37 public chains. In this article, we will discuss how this wallet works and why it is an ideal solution for cryptocurrency traders.

What is MPC Technology?

Before we dive into the details about the OKX Web3 wallet, let us first discuss MPC technology in brief. MPC stands for multi-party computation, and it is a cryptographic protocol that allows multiple parties to collaborate without revealing their private data. In the context of cryptocurrency wallets, MPC technology is used to manage private keys securely.

The Keyless Wallet

The OKX Web3 wallet is a keyless wallet, which means that it does not require users to manage complex private keys. Instead, the wallet is based on MPC technology, which splits the private key into multiple parts and distributes them among different parties. This approach ensures that no single party has access to the entire private key, making it more secure than traditional wallets.

Multi-Chain Support

Another unique feature of the OKX Web3 wallet is its support for 37 public chains. This means that users can store and manage multiple cryptocurrencies in the same wallet without the need for multiple wallets. This feature makes it a convenient solution for investors who trade in multiple cryptocurrencies.

Emergency Exit Function

The OKX Web3 wallet also includes an emergency exit function, which allows users to export their private keys and withdraw their assets in emergency situations. This feature ensures that users have complete control over their funds, even in the event of an emergency.

How to Create the Wallet

Creating the OKX Web3 wallet is easy. Users can create the wallet directly from their OKX account without the need to manage complex private keys or mnemonics. The wallet can be accessed through a simple login process, just like any other online account.

Conclusion

The OKX Web3 wallet is a revolutionary product in the world of cryptocurrency wallets. Its keyless feature, based on MPC technology, makes it more secure than traditional wallets. Its multi-chain support and emergency exit function make it a convenient solution for traders who deal in multiple cryptocurrencies. Overall, this wallet is a reliable solution for traders who want to keep their funds secure.

FAQs

#Q1. What is an MPC keyless wallet?

An MPC keyless wallet is a wallet that does not require users to manage their private keys. Instead, it splits the private key into multiple parts and distributes them among different parties using MPC technology.

#Q2. How many public chains does the OKX Web3 wallet support?

The OKX Web3 wallet supports 37 public chains.

#Q3. Is the OKX Web3 wallet a safe solution for cryptocurrency traders?

Yes, the OKX Web3 wallet is a safe solution for cryptocurrency traders, thanks to its keyless feature based on MPC technology.

This article and pictures are from the Internet and do not represent qiAiAi's position. If you infringe, please contact us to delete:https://www.qiaiai.com/daily/12713.html

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.