How Exodus Passkeys wallet claims to simplify Web3 onboarding
Update July 10, 10:20 am UTC: The article was updated to reflect that Exodus Passkeys Wallet's transaction limit is not yet built but is a feature of the future MPC, as communicated by a spokesperson from Exodus.
Exodus, a major software self-custodial wallet for cryptocurrency, is expanding its ecosystem beyond its platform with a new solution that allows users to integrate the wallet into any application.
Exodus Movement, the United States-based firm that created the Exodus wallet, announced the launch of Exodus Passkeys Wallet on July 9.
The tool allows users to create and fund their embedded wallet directly in any platform or application, aiming to further boost Web3 onboarding and integration of decentralized applications (DApps). The new product can also be used as a standalone application, the announcement notes.
No need for seed phrases or verifications
With Passkeys Wallet, developers and users can create and fund an embedded wallet directly within the used application. According to the announcement, the process does not require users to fill in any seed phrases, browser extensions or email verifications, significantly simplifying the integration process.
“With just one click, users can create their wallet, or ‘Passkey,’ and seamlessly connect to an application, able to market-integrate in less than 10 minutes, with just a few lines of code,” Exodus co-founder and CEO JP Richardson said.
While simplifying wallet integrations across DApps, Exodus still ensures that users have complete control over their assets in a secured ecosystem.
Exodus Passkeys Wallet will allow transaction limits but will still maintain self-custody
According to the announcement, the Exodus Passkeys Wallet is built using multiparty computation (MPC) technology, which aims to enhance security by distributing private key control across multiple parties.
The Passkeys Wallet also expands user safety with upcoming MPC features like spending limits while maintaining self-custody, the announcement notes.
Additionally, Passkeys Wallet uniquely supports Ethereum Virtual Machine (EVM), Bitcoin (BTC) and Solana’s SOL (SOL), providing users with flexibility and access to diverse blockchain ecosystems and DApps.