Why
@portal_hq? Why not Privy?
Don't get me wrong, Privy is an incredible product and they deserve all the praise they get. But we opted for a solution that focused more on hardcore security.
In our mission to become a deobank (decentralized neobank), we wanted unmatched security and we receive that with Portal's MPC architecture.
When creating a wallet, we save the private key of the EOA to the user's keychain on their phone.
Two key shares are created, encrypted, and stored separately for recovery. One half in the user's cloud. The other half on our servers.
These key shares cannot be put together unless the user initiates recovery.
So in the unlikely event that a hacker accesses both our encrypted servers, your cloud account, retrieves both halves, AND decrypts them, without access to your OTP liveliness check (email or sms) and biometric/PIN, they cannot even put the halves together.
By rolling our own OTP auth alongside Portal, we've created a hacker's nightmare.
We also store the KeyValueStore in the user's cloud in a way that is not visible to the user. This means that the user cannot accidentally delete their keyshare if they are wiping their cloud files.
As many of you have noticed, we do all of this behind the scenes. Onboarding takes about 30-45s when we do all the magic.
Easy to get in if you're you. Really hard to lose your seed, even accidentally. Really difficult to hack if you're not you.
Hyper secure. Easy recovery. Pistachio.