Solana and Web3Auth collaborate to kill seed phrase authentication

SINGAPORE. February 3, 2022 — Along with scalability and transaction time, key management has posed a critical problem to any ecosystem gunning for mainstream adoption. And while the former two are solved on Solana, the current standard of managing keys via seed phrases is a far cry from perfect. Quantifiably, reports have shown that up to 20% of all bitcoin in circulation has been lost, users take up to 10-15 minutes to onboard onto any application/wallet and it's almost every day that you hear stories of lost phrases. 

A grant to push adoption - eliminating seedphrases on dApps and wallets

It's clear that in order to onboard the next billion users onto the ecosystem, something needs to change. These users need a seamless onboarding - an experience where the user can interface with the Dapp immediately without grappling with seed phrases. Fixing seed phrases has been Web3Auth’s mission and the Solana Foundation is glad to award us with a grant to help solve these gaps in onboarding for their ecosystem. Used already by Binance, Ubisoft’s NFT launch, Keplr (Cosmos), Rarible and other popular wallets/applications, we’re excited to share that today, Web3Auth’s threshold cryptography auth suite fully supports all Solana dApps and wallets.

How does Web3Auth solve the problem of onboarding for Solana

1. Web3Auth Auth suite

Web3Auth is a pluggable infrastructure that enables Web3 wallets and applications on Solana to provide seamless user logins for both mainstream and crypto native users. By aggregating OAuth (Google, Twitter, Discord) logins, different wallets, and existing key management solutions, Web3Auth provides a familiar experience that fits every user thereby increasing conversion rates by up to 64%

You can integrate Web3Auth into your application with a couple of lines of code. With web and mobile SDKs, you can customize its look for your application and even plug in your own existing auth/user base with the infrastructure.

Web3auth currently powers 500+ dApps and has over 8 million users. 

2. A state of the art Solana Torus Wallet

The Solana Torus Wallet is a result of months of collaboration between the development teams at Solana Labs and Web3Auth. It is a feature-rich non-custodial wallet built for users to securely store all digital assets on the Solana Blockchain and a gateway to access all dApps on Solana. The Solana Torus wallet is rich with some first-of-it’s-kind features such as:

• Meta transactions - Users can start interacting with your application without having any  SOL in their wallets. Applications get to pay transaction fees on behalf of the users.

• Fiat-to-crypto without KYC - Users can purchase crypto with credit card W/O KYC for up to certain dollars.

• Social logins - Users can log in straight into dApps under a min with non-custodial social logins.

• Mobile & web support - The wallet is mobile-first and supports both web and mobile flow with no need to download any app.

Experience the power yourself

Try out Solana torus wallet for yourself here. You can get started with the wallet by directly integrating it here or via the Solana adapter here.

You can access Web3Auth’s Whitelabel SDKs here. 

What’s next?

Web3Auth is committed to building an ecosystem and a lasting culture around the Solana blockchain to enable mainstream adoption among developers and users. You can look forward to Web3Auth participating in Solana’s hackathons in 2022 and for any developers looking to integrate, the Web3Auth team has been and continues to extend 100% support for dApps & wallets on the Solana blockchain. Web3Auth is already supporting a couple of exciting dApps & wallets in 2022 such as Magic Eden, Metaplex, and Holaplex. At the heart of it, this collaboration is all about empowering the developer community to onboard users into the ecosystem as seamlessly as it can get. Perhaps even better than the Web2 experience down the line. We don’t want any user to miss out on the possibilities that the world of Web3 has to offer to them just because they can't remember their seedphrase.