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- MPC Wallets offer easier access with robust cryptographic protection.
- Leading wallets and wallet features can bring more users to Web3 apps.
- Web2 to Web3 onboarding remains easier with a new generation of wallets.
MPC, or Multi-Party Computation is a new wallet approach that gives the highest security, while also sharing the wallet keys between parties. This technology makes it possible for new Web3 users to join through an integrated wallet.
MPC wallets are not a fix-all solutions, but they are becoming more common, and some are featured through the Alchemy Web3 toolbox. This type of wallet is available through some of the leading providers of other Web3 developer packages. Some claims were made that using an MPC wallet was more secure compared to MetaMask, especially where it comes to phishing or protecting the seed phrase or private key.
Play2Moon picked the most widely known and available Web3 MPC wallets in 2023.
ThirdWeb MPC Wallet: One Option Among Many
ThirdWeb is one of the most comprehensive sources of Web3 tools. The wallet workflow is one of the most important for Web3 builders. MPC wallets by ThirdWeb are part of the SDK available through ThirdWeb, and are targeted at both teams and end users.
ThirdWeb’s wallet offers a secure storage of the private key, while also giving several parties cryptographic protection and rights to the assets within the wallet. This allows account abstraction, where users are onboarded to a game and given a wallet without special tasks on their side.
ThirdWeb’s wallet splits the private key between the end user and the app server. Together, the two sides can sign a transaction with a valid key, but the whole key is not exposed to anyone. With a MPC wallet, phishing is impossible, as the end user cannot expose the whole key by mistake.
OKX Wallet:Best in Class App by Alchemy
OKX Wallet was awarded the Best in Class app in the Alchemy aggregation of MPC tools. The app offers multi-chain access, with exposure to a long list of established blockchains. The wallet is available as a mobile and desktop app, as well as a browser extension.
The OKX Wallet is also expanding rapidly, adding new blockchains as partners.
The wallet is also tied to OKX, one of the fast-growing exchanges for multiple assets. OKX claims to serve between 20 and 50 million users worldwide, and the OKX MPC wallet is an access point to trading and swaps. OKX is also dedicated to the Web3 world, offering regular prizes and special NFT mints.
DFNS Wallet Infrastructure and Multi-Chain Access
DFNS aims to become the infrastructure for Web3 projects, offering access to more than 30 blockchains. DFNS is a relatively recent addition to working wallet apps, arriving in May 2023.
DFNS aims for innovation, using biometric authentication. Additionally, the relatively new wallet with multi-asset access will offer satellite-link transactions.
DFNS is part of the trend of simplifying Web3 authentication and making wallets as convenient as possible. DFNS offers 2FA logins and a user ID, while leaving the end user in sole control of all funds. This means apps using the DFNS technology are not bound by crypto asset custody regulations.
DFNS wallets also delegated signing to the app and the end user. DFNS also offers to onboard any blockchain within weeks, and already carries major ones like Ethereum, BSC, Avalanche, Solana, Polygon, and more.
MPC Vault: Wallet Resource for Teams and Builders
MPC Vault is a wallet project targeting business-grade Web3 projects. The wallet offers access to multiple chains, for now encompassing the most prominent ones such as Ethereum and Polygon.
MPC Vault aims to become a hub for identity and account creation, targeting Web3 apps. MPC Vault is just starting out to grow and add more transactions and deposits. The MPC hub tracks new accounts in real time, giving a preview of the current Web3 trend.
The features of MPC Vault are tailored to safe usage of financial operations in Web3 apps. The wallet offers easier accounting operations, batch payments, cross-chain payments with no need for bridging, batch trading, multi-sig management and more. As with other similar wallets, MPC Vault leaves all funds and assets in the hands of the end user. But even if their cryptographic protection is compromised, the funds will be safe and the wallet will be recoverable.
Marble Wallet: Self-Custody Without Seed Phrase
Marble Wallet uses account abstraction and offers seamless onboarding with an email wallet. The goal of Marble Wallet is to help all apps bring as many users as possible into Web3 with no extra steps.
Apps can customize Marble Wallet when integrating it into their onboarding process. The white-label wallet is fully customizable, with tailored SDK. As of May 2023, Marble Wallet is available for EVM-compatible blockchains, but will add more types of networks in the future.
As with other software wallets, Marble offers seamless cross-chain transactions, bypassing the risk of bridges.
MetaMask remains the earliest and leading form of Web3 wallet access. However, seamless integration is gaining speed in 2023, marking a watershed in having both on-chain access and the chance to onboard Web2 users which may not be comfortable with generating seed-phrase wallets.