Torus Rolls Out Non-Custodial Crucial Management Solution to Simplify DeFi
Torus, top cryptocurrency management platform, has rolled out its non-custodial crucial management solution DirectAuth-facilitating simple log-in processes for web3 applications.
DirectAuth is developed over the Torus Wallet, which paves way for one-click logins for decentralized applications (DApps).
The inclusion of DirectAuth permits consistent logged-in process and simplify dealings. DirectAuth uses multi-party computation (MPC) for generation of disbursed key.
Users can also remit ERC-20 and ERC-721 tokens to Reddit usernames, Google emails or Discord IDs via Torus. In this regard, Torus co-founder Zhen Yu Yong stressed Torus’ wish to “bring web2.0-like to Web3 dapps.”
For Zhen, developing multiple simplified client experiences is crucial to lead widespread adoption of cryptocurrencies and DeFi (decentralized finance). Zhen stressed that the prevailing dapp ecosystem necessitates complex log-ins at every move, developing an unimpressive experience for amateur users.
Yong detailed several prevailing user-interfaces in Defi as providing a “terrible” user experience, saying “We all know triggering a pop-up on every transaction is not a great UX for the end-user, especially a mainstream user.”
Zhen said that Torus is aiming at the “class of applications that really target a mainstream audience that [also] need to maintain their own permission structure.”
Yong further stated “Any application can implement this [software development kit] and get the [Torus] UX, but on their own application, and with their own permission controls.”
Notably, DirectAuth has already been integrated with notable blockchain powered games, including Good Dollar and SkyWeaver.
In February, Torus unveiled its one-click key administration system Torus Wallet, drawing support from top cryptocurrency related firms as node operators, including Ethereum Name Service and Binance.
Torus received $2 million as funding in the seed round during last July, driven by Multicoin Capital. Both Coinbase Ventures and Binance Labs also took part in the funding.