Binance Launched Web3 Wallet using MPC Technology

Binance Launched Web3 Wallet using MPC Technology

Binance launched its new Web3 wallet and will be made available to all users via the Binance mobile app. The web3 wallet launches within the primary Binance app, which is predominantly used for trading.

The wallet features the multiparty computation (MPC) technology, which remove the need for users to memoirze the seed phasses. With MPC, private key will be broken into three smaller parts known as key shares. Two of the three key shares will be controlled by the users at all times, allowing for self-custody and one key share will be with Binance.

Binance's aim is that users can use the wallet to "swap thousands of tokens across" more than 30 blockchains, explore decentralized applications, transfer funds between exchange and wallet, the company said.

Source

Binance

Wallet

In This Article

Related News
Binance suspends employee for allegedly profiting off of insider information Binance suspends employee for allegedly profiting off of insider information
Binance Records $3.97B Weekly Inflows Binance Records $3.97B Weekly Inflows
Phantom Wallet raises $150 million at $3 billion valuation Phantom Wallet raises $150 million at $3 billion valuation
Crypto wallet Phantom confirms it won’t launch a token amid airdrop rumors Crypto wallet Phantom confirms it won’t launch a token amid airdrop rumors
Binance inflows for 2024 are almost 40% higher than the next 10 exchanges combined Binance inflows for 2024 are almost 40% higher than the next 10 exchanges combined
Latest News More More
1 Day Ago 0xbow unveils ‘Privacy Pools,’ a new blockchain privacy tool drawing from Vitalik Buterin’s research
6 Days Ago Ethereum edges closer to deploying Pectra on mainnet with successful upgrade on Hoodi testnet
6 Days Ago MEXC Extends DEX+ Platform to Binance Smart Chain Users
March 25 BlackRock launches bitcoin ETP in Europe following US success
March 21 Pump.fun launches DEX called PumpSwap to instantly migrate graduated token
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open