• OKX Wallet has upgraded to become the first Web3 wallet to utilize multi-party computation (MPC) technology in combination with its support of 37 blockchains.
• The upgrade also includes a first-of-its-kind asset recovery feature, called independent ‘Emergency Escape’, which allows users to recover access to their assets without the involvement of OKX.
• The upgrade is part of OKX’s goal to accelerate the growth of Web3 and spur mainstream adoption by delivering user-friendly experiences that keep users and their assets safe.
OKX Enhances Security With MPC Technology
OKX, the second-largest crypto exchange by trading volume and a leading Web3 technology company, recently upgraded its OKX Wallet to become the first Web3 wallet to utilize leading-edge multi-party computation (MPC) technology in combination with its support of an industry best 37 blockchains. MPC technology eliminates the need for traditional written down keys and seed phrases by splitting a user’s private key into three parts, greatly improving security and eliminating a single point of failure.
Introducing Independent ‘Emergency Escape’ Feature
In addition, the wallet upgrade also includes a first-of-its kind asset recovery feature, called independent ‚Emergency Escape.‘ This feature is unique because it allows users to recover access to their assets without the involvement of OKX To recover access in an emergency situation, users will need two out of three (a.k.a 2/3) access credentials: device , cloud backup or an OKX account login .
Other Features Of The Leading OKX Wallet
The existing features of the leading OKX Wallet include: decentralized multi chain wallet that allow users take custody of their own crypto; trade NFTs; access DeFi protocols; explore thousands of DApps .
Goal Of Accelerating Growth Of Web3 And Spur Mainstream Adoption
The upgrade adds to this list as part of OKX’s goal is accelerating growth of web 3 and spur mainstream adoption by delivering user friendly experiences that keep users and their assets safe. According to Haider Rafique, Chief Marketing Officer at OKX : ‚This milestone signifies the beginning future where crypto wallets are more accessible interoperable & ubiquitous while being safe & secure“.
Empowering Individuals To Take Control Of Financial Future
Nate Zou head off web 3 product at okx said: „the philosophy web 3 centers around self custody , which empowers individuals take control their financial future . However removing intermediaries from equation also means assuming greater responsibility securing one on chain property , including digital artwork & cryto“
