æpps Update: æternity wallet X AirGap

At æternity, our primary goal is to bring the blockchain experience to mass adoption. In order to do so, we need to deliver technology which is not only intuitive and easy to use, but also provides the highest level of security.

Trust Free Systems vs Centralized Systems

There’s a fundamental difference between interacting with a trust-free network like the blockchain and interacting with centralized systems. In a blockchain, much of the data is encrypted and only accessible to the holder of the key with which it was encrypted. There’s no third party who can recover the data if the key is lost.

User Expectations

This is fundamentally different from what most users are used to, especially when it comes to money. For example, if a user has an account with a traditional bank and they lose the password to their online banking they can go to the bank, identify themselves, recover their login and regain control of the funds in their bank account. In a blockchain, if the same user loses their private key and cannot recover it they lose access to their data and/or tokens forever. Additionally, if anyone else gets a hold of their private key they can gain access to all of the data and tokens. For this reason, protecting one’s private key and having a recovery method is paramount to maintaining control of one’s data and tokens.

The Gold Standard in Securing Wallets

In order to facilitate this level of security as well as control of users’ data and tokens, we are looking to provide users with the most secure technological solutions. For this reason we have partnered with Papers.ch in supporting their project AirGap and integrating it directly into our Base app.