Improving Crypto Wallets

Improving Crypto Wallets

Traditional crypto wallets have limitations that make them risky or hard to use. Vultisig offers a better solution.

Problems with Single-Signature Wallets

Single-signature wallets are dangerous. If you make a mistake, like losing your phone or getting hacked, your funds can be stolen forever. It's easy to make a mistake with these wallets.

Issues with Hardware Wallets

Hardware wallets are clunky and annoying to use. They have small screens and buttons, and the setup is complicated. Firmware updates can be scary, and transactions are confusing. Hardware wallets need to be easier to use.

Challenges with Multi-Sig Wallets

Multi-sig wallets are painful to set up and use. If you lose one key, you lose all your funds. Different blockchains require different multi-sig setups, so there's no simple way to use them across all your crypto.

Vultisig: A Better Crypto Wallet

Vultisig solves the problems with traditional crypto wallets. It's secure, easy to use, and works with many different blockchains.

What Makes Vultisig Special

• Works with many blockchains: Vultisig supports UTXO, EVM, BFT, and EdDSA chains, so you can use it for all your crypto.

• Flexible vault options: You can choose how secure you want your vault to be, with options like 2 of 2, 2 of 3, or 3 of 4 keys needed to access your funds.

• Simple to use: Vultisig has a friendly interface that's easy for anyone to understand, whether you're new to crypto or an experienced user.

• Decentralized keys: Your signing keys are kept off the blockchain, so they're more secure.

• Funds are safe: Even if a key is lost, your funds are protected because vault shares don't hold your crypto directly.

• Open-source technology: The platform's code is publicly available, allowing for community audits and transparency.

Vultisig makes managing your crypto easier and safer. It's a better alternative to the problems with single-sig, hardware, and multi-sig wallets. Try it out and see how much better crypto can be!

2-of-2 Vault: The Easy One

With this vault, you only need 2 devices to create it and 2 to sign transactions. It's the simplest and most convenient option.However, it's important to note that the 2-of-2 vault is not automatically backed up. You have to manually export the vault shares and store them safely somewhere else. If you don't do this and lose a device, you could lose your crypto. So while the 2-of-2 is the easiest, it's also the least secure. Only choose this if you're okay with the risk.

2-of-3 Vault: The Recommended One

This vault needs 3 devices to create but only 2 to sign transactions. The cool thing is, it automatically backs up one of the devices for you. You still should export the vault shares as an extra precaution though. The 2-of-3 is the most popular choice because it's more secure than the 2-of-2 but still pretty easy to use. It's a good middle ground between convenience and safety.

3-of-4 Vault: The Secure One

If security is your top priority, go with the 3-of-4 vault. It takes 4 devices to create and 3 to sign. Like the 2-of-3, it automatically backs up one device. But again, export those shares just in case.The 3-of-4 is the most secure option Vultisig offers. It's perfect if you have a lot of crypto to protect or you're really risk-averse. The downside is it's a bit more work to manage all those devices.

Which Vault is Best for You?

The best vault depends on your needs. If ease of use is key, the 2-of-2 works. But be careful with the security.For most people, the 2-of-3 is probably the way to go. It's user-friendly but still provides good protection for your crypto.Only choose the 3-of-4 if you really value maximum security over everything else. It's the most secure but also the most complicated.No matter which you pick, be sure to export those vault shares! That's the key to keeping your crypto safe with any of these Vultisig vault types.

How Vultisig Handles Transaction Signing

When a device starts a transaction, it begins a secure cryptographic session to sign that transaction. This device takes the user's input and converts it into a transaction payload while also serving as the main host for the session.

Step 1: Initiating the Session

The initiating device sends session information, including a unique session ID, to the Vultisig relay server or shares it over the local network. At the same time, it generates a QR code that contains all the necessary session details for other devices to join.

Step 2: Joining the Session

Other devices can scan the QR code to connect to the session. The QR code includes the session ID and a hex chain code, allowing for a secure pairing process through encrypted messaging. The initiating device keeps track of the devices that join and starts the keysigning ceremony once it detects that enough devices are connected.

Step 3: Signing the Transaction

During the keysigning ceremony, the devices involved work together to sign the transaction, following the rules of the threshold signature scheme. Once the signing process is successfully completed, the initiating device sends the signed transaction to the blockchain and shares it with the other devices.

Step 4: Confirmation

After the transaction is broadcasted, the participating devices display the transaction hash, confirming that the transaction has been executed successfully.This entire workflow ensures a secure and organized process for starting sessions, pairing devices, and executing multi-signature transactions, making it a robust solution for managing crypto transactions.

Future of multisig wallets ?

Vultisig is currently in beta status and is actively rolling out updates and new features to enhance its platform. As a multi-signature crypto vault solution, Vultisig aims to provide users with a secure and user-friendly way to manage their digital assets. To participate in the beta testing, users can join through TestFlight, where they can install the latest builds and provide feedback. Each build is available for testing for up to 90 days, and testers are notified when new updates are available. This ongoing development process allows Vultisig to refine its features and improve user experience based on real-world usage.With a focus on security and convenience, Vultisig is working to create a robust platform for cryptocurrency management, making it an exciting option for users looking for a reliable wallet solution.