ZenGo Becomes First Non-Custodial Wallet on Polygon with no Seed Phrase VulnerabilityExternal - Press Release
By: Chainwire •External PR
Tel-Aviv, Israel, 25th January, 2023, Chainwire
ZenGo has become the first non-custodial wallet with no seed phrase vulnerability to integrate with the Polygon network. As a result, Polygon users can enjoy self-custody of Polygon (MATIC), ETH, BTC, and more with secure asset recovery built-in.
By leveraging advanced biometrics and cutting-edge MPC cryptography, ZenGo eliminates onboarding complexities, allowing anyone to safely set up and secure their wallet in seconds from any iOS or Android device. ZenGo’s security model removes the single point of failure that besets traditional non-custodial wallets: Not a single ZenGo wallet has been taken over since the company was founded in 2018.
Ouriel Ohayon, ZenGo CEO and Co-Founder, said: “We’re delighted to become the first Polygon wallet with no seed phrase vulnerability and built-in web3 firewall protection. We’ve been blown away by the innovation, engagement, and growth in the Polygon ecosystem, the global brands building on it, and can’t wait to securely onboard newcomers.”
“Today, digital asset security is still one of the biggest concerns, especially when it comes to those just starting their web3 journey,” said Hamzah Khan, Head of DeFi at Polygon Labs. “This is why the integration of ZenGo is so beneficial to Polygon users, allowing them to reliably and securely self-custody their cryptocurrencies. It also aligns perfectly with Polygon’s mission to onboard the next billion users to web3, making the space as accessible, safe, and inclusive as possible.
In addition to sparing users from the responsibility of seed phrase storage, ZenGo protects them when signing web3 transactions. Its built-in firewall, ClearSign, helps users understand the permissions they are approving, preventing them from signing dangerous transactions.
More than 800,000 users rely on MPC technology to secure their digital assets, with ZenGo the most popular wallet of its kind. ZenGo replaces the traditional private key with two independently created mathematical “shares.” One is stored on the user’s mobile device and the other on ZenGo’s server, ensuring no single point of failure while facilitating recovery in the event of device loss.
ZenGo’s integration with Polygon will empower a new wave of web3 users to enjoy all of the upsides to self-custody without the vulnerabilities that come with seed phrases.
ZenGo is the most secure crypto wallet: The only self-custodial wallet with no seed phrase vulnerability. ZenGo has never been hacked and is always recoverable, thanks to 3 industry-pioneering technologies: MPC cryptography, a built-in web3 firewall, and a 3-factor-authentication recovery model. Enjoy 24/7 in-app customer support, and join 800,000+ users to buy, store, and trade crypto and NFTs. www.zengo.com
About Polygon Labs:
Polygon Labs develops Ethereum scaling solutions for Polygon protocols. Polygon Labs engages with other ecosystem developers to help make available scalable, affordable, secure and sustainable blockchain infrastructure for Web3. Polygon Labs has initially developed a growing suite of protocols for developers to gain easy access to major scaling solutions, including layer 2s (zero-knowledge rollups and optimistic rollups), sidechains, hybrid chains, app-specific chains, enterprise chains, and data availability protocols. Scaling solutions that Polygon Labs initially developed have seen widespread adoption with tens of thousands of decentralized apps, unique addresses exceeding unique addresses exceeding 211 million, over 1.12 million smart contracts created and 2.36 billion total transactions processed since inception. The existing Polygon network is home for some of the biggest Web3 projects, such as Aave, Uniswap, and OpenSea, and well-known enterprises, including Robinhood, Stripe and Adobe. Polygon Labs is carbon neutral with the goal of leading Web3 in becoming carbon negative.
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