Crypto space has seen lots of hacks in the recent years and making sure you keep your wallet away from the hacks and other invasive attacks becomes a predominant one. Bringing the most advanced security features helps to keep the wallet away from any kind of attacks. Dappfort brings all the possible security features to keep the platform and user information away from such hacks. We use multiple layers of security protocols to keep your wallet safe. Here are a few security features we implement into our crypto wallet development process

Security Features of Crypto Wallet

Private Key Encryption

Crypto wallets have a private key which is used to sign contracts to approve any kind of transaction or ownership of crypto assets. These private keys are randomly generated and must be protected so, to protect these private keys are mostly encrypted with the asymmetric encryption. These private keys are like PIN numbers of your accounts so protecting these plays a major role.

Seed Phrase (Recovery Phrase) Protection

Most of the crypto wallets are protected with seed phrases and these seed phrases are the most advanced way to protect the assets in the wallet and the users information. It’s a random 12 word phrase which protects any one from accessing the wallet without the phrase and most importantly if you forget the seed phrase you won’t be able to recover your wallet any more. This is the most advanced way of protecting your crypto wallet in the modern world.

Multi-Signature (Multi-Sig) Authentication

One of the most unique features that prevent the crypto assets from any hacks is multi-signature authentication which requires multiple keys to allow any kind of transaction in the crypto wallet. Mostly these keys are performed with multiple devices or any other additional individual who they trust. These multisig wallets are more secure and have very low risk towards any hacks than any other wallets.

Biometric Authentication (Fingerprint/Face ID)

Biometric is the most common feature among all the device applications and digital operation as the fingerprint and face recognition is more secure on a daily basis. Implementation of biometrics is an additional layer of support so that the users will be able to make a secured login to the wallet each time avoiding  others to access the wallet in the devices at ease and it is most commonly used in all wallets in the present modern world.

Two-Factor Authentication (2FA)

Two factor authentication, the most common one used for years, is just an additional layer of security to verify the login is done by the owner. The 2FA is done in many ways whether using a separate application or a device the users opt for. The 2FA is a simple process of verification with a code sent to the app or device you have already chosen for the verification process.

Cold Storage Support

Cold crypto wallets are one one of the most safest ways to hold your crypto away from hackers. These cold wallets are kept away from online networks when not in use which prevents any kind of access over the internet world. Cold wallets hold crypto keys offline protecting it from risk of hacks, phishing, and malware as it is never exposed to the internet.

End-to-End Encryption

The most common security feature most of the crypto wallets have is end-to-end encryption. It’s a simple solution which encrypts all the sensitive data, including private keys, seed phrases, transaction details and more. It safeguards the information that no third-party or even the wallet provider cannot access the data once encrypted, this is why most products move with end-to-end encryption.

Shamir’s Secret Sharing

Shamir’s Secret Sharing (SSS) is a cryptographic method which is used in recent days in the crypto space to split a private key into multiple parts and save them or share them among different trusted parties or devices. This enhances the wallet security by ensuring that not a single entity has complete control over the private key which reduces the risk of loss or theft.

Zero-Knowledge Proofs

Zero-Knowledge Proofs is also a recent usage in the crypto space to prevent any theft. It’s a cryptographic technique that allows one person to prove to another person (the verifier) that they know a piece of information without revealing the actual data. In crypto wallets, it helps to enhance privacy, security, and authentication by enabling transactions and identity verification without exposing sensitive details.

End Note

Dappfort offers the top-notch security features for the crypto wallet we offer to the clients based on their needs. Our team comes up with multiple security layers that protects the users data and crypto assets of the users at any cause. Apart from the above mentioned security features we provide extra security layers if required by the client. Want to launch your own crypto wallet in the digital space with the most advanced features and standalone in the market, get connected with our team and plan your future crypto business growth.