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Torus introduces a key management system to optimize the DeFi sector

May 29, 2020

The key management platform, Torus has launched its unguarded DirectAuth key management solution that provides a streamlined login experience for web applications3.

DirectAuth is based on the Torus wallet and makes logging in easier with one click for decentralized applications or dapps. Adding DirectAuth enables a persistent login, transaction optimization, and signing in a single application.

DirectAuth uses multipart computing (MPC) to generate distributed keys.

Torus introduces a key management system to optimize the DeFi sectorTorus introduces a key management system to optimize the DeFi sector

Users can also use Torus to send ERC-20 and ERC-721 tokens to Google emails, the Reddit username, or the Discord ID.

Torus wants to optimize the Web3 experience

Talk to Cointelegraph Zhen Yu Yong, co-founder of Torus, emphasized Torus’ desire to “deploy Web 2.0 as dapps for Web3”.

For Zhen, creating a more rational customer experience is critical to promoting the spread of crypto assets and decentralized finance (DeFi). Zhen emphasized that the current dapp ecosystem requires cumbersome logins at every step, which is an uncomfortable experience for beginners.

Yong described many of the existing user interfaces in DeFi as a “terrible” user experience.“We all know that enabling a pop-up on every transaction for the end user, especially a traditional user, is not a great user interface.”

The user experience is critical to the adoption

Torus targets the “class of applications that really appeal to a majority group that [también] You must maintain your own authorization structure. “Zhen said.

“Any application can implement this [kit de desarrollo de software] and get the UX [Torus], but in its own application and with its own authorization controls “Yong added.

DirectAuth has already seen the integration between remarkable blockchain-based games like SkyWeaver and Good Dollar.

Torus introduced its one-click key management system, Torus Wallet, in February, supported major crypto projects, including Binance and Ethereum Name Service.

Torus raised $ 2 million in a starting round led by Multicoin Capital in July 2019. Key industry figures, Coinbase Ventures and Binance Labs, also participated in the collection.

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