Are you using an exchange to store your crypto?
If your crypto is stored on an exchange and you don’t have the private keys, is it really yours? Many will say it’s not. One of the most famous quotes in the crypto world encapsulates this idea: “Not your keys, not your coins”
Crypto exchanges continue to fail
as hacks bite hard (Brave New Coin)
Is your wallet’s recovery phrase on piece of paper?
On the other hand, you can always manage your private keys using a hardware wallet like Ledger and Trezor or a non-custodial wallet like Coinbase Wallet. But managing private keys is hard for most people. If you lose your private keys, or your recovery phrase you lose your crypto.
Only you control your coins
We’ve built a wallet that does not use private keys.
You don’t need to worry about managing private keys or safely storing mnemonic phrases, anymore.
We use Multi-party Computation (MCP) to replace the traditional private key.
We create two secrets using a distributed key generation protocol. One secret is stored on your mobile device and the other on our servers.
When you initiate a transaction, a distributed signing protocol uses the secret on your mobile device with the one on our servers to sign the transaction.
Never lose your crypto
We’ve also implemented cutting-edge authentication using facial biometrics making it easy to backup your wallet and simple to recover it.
We guarantee that you will never lose access to your cryptocurrencies, even if you lose your device or delete our wallet app.
When the you create your wallet, we encrypt and store the secret from the your mobile phone to your personal cloud (Google Drive for Android) and we scan your face, and generate mathematical representation of your face.
When you need to restore your wallet, all you need to do is scan your face. We compare this scan with the one that was created when you registered. If there is a match, the app retrieves and decrypts your device secret, from your personal cloud, and your wallet is restored.
Our Security Model
Kryptonio approaches security on multiple levels.
Firstly, we share security responsibilities between your mobile phone and our own servers.
Secondly, facial recognition is just one of the three security factors we use for authentication.
The other two are email verification and access to your personal cloud.
All three are required to access to a wallet.