Core Introduces A First-of-Its-Kind Experience in Wallet Creation: Seed Abstraction - Crypto News Flash

2023-12-15 16:23:52

New York, United States, December 15th, 2023, Chainwire

Anyone can now use Core without seed phrases. Now, you can generate and manage keys through simple Web2 methods like Gmail and Apple logins, making it more accessible without any security or custody tradeoffs

This is a first-of-its-kind experience in wallet creation, built for the Avalanche eco and beyond. Core’s seed abstraction is universal, not limited to specific blockchains or VMs. A user can use Core-generated seed across ious blockchains, from Bitcoin to EVMs, without the complexities of multiple contracts or cross-chain issues.

Ease of cross-chain use sets Core’s Seed Abstraction apart from other offerings. For instance, ERC-4337 (account abstraction) limits wallet users to EVM chains and has restrictions based on where contracts have been deployed. Core outperforms ERC-4337 by letting users transact across multiple environments (such as Bitcoin, Avalanche C, X and P-Chains, and any EVM) with confidence and security.

Core uses Cubist’s CubeSigner non-custodial signing service, which provides Core secure social logins and handles keys inside secure hardware. Core generates keys and signs transactions remotely, from within CubeSigner’s secure hardware. Nobody can see your private key. When users sign transactions, extensive encryption methods and a secure enclave keep raw private keys secure.

To access a Core account, a user needs both their login details and a physical authentication device, greatly reducing the risk of phishing and unauthorized access. Additionally, CubeSigner’s protocol for exporting keys includes extra steps and waiting periods to protect against attacks like SIM swapping, ensuring only the rightful owner can export their keys

Core unifies the key tenants of Web3 by enabling simple, frictionless, and seedless onboarding while preserving self-custody and high security. Core’s users are free to choose their favorite form(s) of sign-up, login, and recovery without any trepidation or anxiety. – Akash Gupta, Head of Consumer Products at Ava Lab

Everyone has read stories about lost seed phrases and lost wallets. Seed phrases present their own risks, not to mention that few people beyond crypto natives will devote the necessary time and attention to properly managing them. Core’s Seed Abstraction is an elegant way to eliminate these risks and simplify the Web3 wallet experience while preserving security.

To support Web3 adoption, blockchain products need to continue improving UX, making them as seamless as Web2 products. Core’s Seed Abstraction was built in that way, addressing one of the biggest problems for everyday users – seed phrases – and making the wallet experience more intuitive and in line with how most people actually use the internet

Some Core users may want to keep using a seed phrase and they have the option to do so. Existing wallet creation options will remain in place. Users who want to go seedless will need to create new Core wallets, giving them all the associated benefits

About Ava Labs

Ava Labs makes it simple to deploy high-performance solutions for Web3, led by innovations on Avalanche. The company was founded by Cornell computer scientists, who partnered with Wall Street veterans and early Web3 leaders to ute a promising vision for redefining the way people build and use open, permissionless networks. Ava Labs is redefining the way people create value with Web3.