Best Crypto Wallet for Billions
👩👩👧👦 WHOM: Global consumers with just a few thousand dollars and no technical background.
- No emails, SMS, passwords or government documents necessary.
- Harmony supports non-custodial and trustless transactions in 2 seconds and at less than $0.01 fees.
🚀 WHEN: Product launch in 2021 Q3 with 1000 users, then 10k users in Q4 with each wallet holding $1000. A prototype with minimal features on mainnet in July.
- Non-custodial: no network, software, developers, government or even Harmony control your fund.
ONE Wallet is designed with these goals in mind for security:
- Resilient. Funds are recoverable through time locks and multiple safety nets. No single point of failure such as thefts, cracks, loss, censorship or coercions is catastrophic.
- Sufficient. All steps are well defined without delegating to hardware devices or seed phrases in safety boxes. Users do not need any passwords or rely on biometrics.
- Anonymous. An account is a fresh cryptographic hash, not tied to existing systems or real-world identity. Derived paths support multiple public keys to protect privacy.
- Composable. One-time or low-entropy passwords are useful for small funds. Multiple authentications can independently boost protection thresholds against brute-force.
- On-chain. A decentralized network with high stakes and fast finality validates all transactions. Its platform has sustainable incentives and open governance to evolve.
- Programmable. Operations can call third-party contracts, store history of states, or upgrade its code. Complex applications may use oracles of time, locations and events.
- Self-Sovereign. No third parties, government documents, designated guardians, backup servers or hardware enclaves are necessary. Users have full custody and self control.
- Air-Gapped. Key-loggers and man-in-the-middle attacks are minimized. The full parameters of transactions are easy to verify and approve without cables or cameras.
- Verified. Trusted are only open source and hardened cryptography. Formal verification, through logical frameworks, assures end-to-end security beyond tests and audits.
There may be conflicts, tradeoffs or impracticality of the goals above. Here's our rule of thumb:
- 1.Toward validating our innovation with 10k users (each with $100 assets), focus on these three goals: sufficient, resilient and composable.
- 2.Toward adopting our product with 1m users (each with $1k assets), differentiate with these three goals: on-chain, self-sovereign and air-gapped