What are passkeys and how can they make crypto wallets secure?

18 SEP 2023
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What are passkeys and how can they make crypto wallets secure?

The beginning of the end of seedphrases! Forget traditional passwords and seedphrases and discover how Passkeys, chosen by Microsoft, Google, and Apple, can improve security and user experience.

What are passkeys though?

Passkeys are a new way to sign in to websites & apps that are more secure & easier to use than passwords.They use biometric authentication allowing users to sign in to apps and websites with biometrics, PIN, and patterns, freeing them from having to remember & manage passwords.

Passkeys are stronger than passwords and can be used to secure your digital devices

Major tech companies like Google, Microsoft & Apple have come up with passkeys to address the security shortcomings of passwords. Passwords are often weak, easier to guess & they're a hassle to manage.Passkeys are designed to be as easy to use as passwords but much more secure.

How do Passkeys work?

When you create a passkey, it's stored on your device and never leaves it.When you sign in to a website or app, your device generates a unique key that's used to authenticate you. For example:

Passkeys created are stored in the device and the device generates a unique key to authenticate

Passkeys when integrated with Crypto wallets:

Passkeys make crypto wallets more secure and user-friendly.They also make it easier to transfer crypto between wallets. Passkeys work by generating a pair of keys, one public key and one private key stored on the device. The public key is stored in the cloud and shared between devices that have their own private keys. For example:

Passkeys coupled with crypto wallets is an extremely secure solution. They can create a public private key pair to authenticate the address

The future of crypto wallets looks bright with potential innovations and improvements such as hardware wallet integration and user-friendly interfaces that make it easier for users to manage their cryptocurrencies.Crypto wallets will likely be passwordless, thanks to passkeys.

Passkeys represent a major step forward in authentication tech, providing a more secure & user-friendly alt to passwords.As more companies adopt it, we can expect to see a significant shift towards passwordless authentication across various industries, including crypto wallets.

If you are looking to see how to work with passkeys and crypto wallets, here is a demo to help you

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