ChainUp Custody: Institutions vs Bitizen - Crypto/Web3 Wallet Usage & Stats

Bitizen is a next-generation crypto/Web3 wallet with NO Seed Phrases, NO Private Keys, which provides state-of-the-art security and simplicity with keyless signature and seedless recovery. - Keyless Signature No Private Keys, No Single Point of Failure. By utilizing threshold signature scheme (TSS) and multi-party computation (MPC) technology, from key generation to transaction signing, the private keys (or portions of private keys) are never been created, stored or shared at any point. By using a Distributed Key Generation (DKG) protocol, the traditional single atomic private key is replaced by two or three independently created mathematical secret shares, which will be used to sign transactions securely and collaboratively in a distributed signing protocol, so that we can remove the risk of private key theft and eliminate the risk of single point of failure. This enables users to benefit from a highly secure service. - Seedless Recovery No Seed Phrases, Simple and Secure Wallet Backup and Restore. Seed phrases suck. They are difficult to remember and are usually stored on piece of paper, which is incredibly insecure. Bitizen Wallet offers a secure, easy-to-use and intuitive backup and recovery solution to securely restore wallet so that we can say goodbye to the hassle, insecurity and anxiety of managing seed phrases and storing paper recovery cards. It’s not only much simpler, but much more secure.