HomeBlockchainBlockchain MediaIntroducing Decentralized Key systems in Web3

Introducing Decentralized Key systems in Web3

Torus is an open-source and universal key management system for the Web3 ecosystem. It’s simple, secure and non-custodial, and suitable for anyone to manage their keys. Torus runs a Distributed Key Generation protocol built on Shamir’s Secret Sharing.

Supporting over a hundred thousand authentications a month on popular applications like AAVE, KyberSwap, Augur, GoodDollar, and MyCryptoHeroes, Torus empowers decentralised applications with seamless user onboarding flows while maintaining recoverability and high standards of security for key management.

The Torus Wallet is the second layer to the system and allows one-click login and authentication on partners including Gmail, Facebook, or passwordless logins on Web3 applications. It is however reinforced behind the scenes by a clever distributed architecture. Notably, clever cryptography makes it possible for users to send crypto to social accounts that don’t yet have crypto wallet. For example, one could send crypto to a Twitter username, which could be claimed once the recipient creates an account.
The team also recently released a custom version of two-factor authentication (2FA), tKey.

We were joined by Founders of Torus, Yong Zhen Yu and Leonard Tan, who gave us fascinating insight into why and how Torus was built, the recent products released, and what their aims are for the future.

Topics discussed in the episode

  • Zhen and Leonard’s backgrounds and how they got into crypto
  • How and why Torus was formed
  • The path Torus has followed over the past year
  • Unwrapping the base layer, the Torus Network
  • How Shamir’s Secret Sharing works and why Torus chose to build on it
  • The Torus Wallet and a step by step of how it works
  • Torus and account portability
  • Use cases and applications built on Torus
  • The second layer of security, tKey
  • Their plans for introducing Touch ID
  • How Torus educate their users on how to stay secure
  • The long term goal for Torus and how users are protected in the future

This article has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

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