Portkey Launches on aelf Mainnet as the First CA Wallet in the Ecosystem
After having been proven stable and reliable on aelf Testnet, Portkey, the first CA wallet with DID solution in aelf’s ecosystem has now officially launched on aelf Mainnet. It is ready to officially connect users and projects to the digital verse and to lead the migration from Web2 to Web3. You can now get Portkey on these devices: iOS, Android, and Chrome browser.
From now on, users are able to create their CA wallet addresses on aelf Mainnet and receive or send Mainnet ELF peer-to-peer. Users can also try other functions within Portkey, such as on/off-ramp powered by ACH, transfer NFTs minted on aelf Mainnet, or explore the Web3 games and DApps going live soon. You will also be able to switch between aelf Mainnet and Testnet within Porkey.
Portkey is officially here
Supported by account abstraction and driven by the market demand for user-friendliness in crypto wallets, the CA wallet is more competitive than the traditional EOA wallet as the entrance to Web3 in every aspect. Portkey CA wallet provides users with a smooth, simple, and secure Web3 experience at a low cost.
- Easy to use: Portkey enables the creation of accounts using Web2 social info, like phone numbers, emails, Google accounts, or Apple IDs. There is no need to remember and keep complex private keys or seed phrases anymore.
- Social recovery and security: Asset owners can set guardians whose confirmation is needed to perform certain tasks, e.g. regaining access, logging in on new devices, and adding new guardians.
- Fully decentralized: Portkey verifies users’ identities by guardians supported by decentralized verifiers.
- Zero fee: Account creation in CA wallets will trigger smart contract transactions which generate transaction fees. Portkey adopts unique fee models to make it free for users to create, log in and out of their Portkey accounts, and so forth.
With these features, the pain points of traditional crypto wallets are addressed and well-solved, which makes Portkey a perfect entrance to Web3.
Why Portkey chose to build on aelf
As a high-performance layer-1 network, aelf keeps its single-chain TPS as high as 35,000. It also has a mainchain + sidechain structure, which theoretically has no limits for scalability. This suits Portkey’s goal to lead the mass migration from Web2 to Web3.
Perhaps what’s most important is that aelf has realized account abstraction, a technology that makes it possible to build CA wallets. Account abstraction frees users from seed phrases like when using EOA crypto wallets. Users can log into their CA wallet account as easily as logging into a Web2 application because their accounts are coded into smart contracts.
Apart from these, Portkey greatly values aelf’s interoperability. In order to become a Web3 entry with infinite potential, Portkey needs to support projects from different networks. And aelf’s ability to connect and interoperate with multiple chains like Ethereum, BSC, and so on, makes it possible for Portkey to support different chains and DApps from other ecosystems in the future.
Besides, aelf supports C# coding language, which is the coding language for many games. To boost the growth of Web3, game developers from Web2 can be a huge contributing force. Building a CA wallet on top of a network that supports C# allows Portkey to become the entrance for projects wanting to migrate from Web2 to Web3.
With the above being said, combining Portkey’s all-around advantages as a CA wallet and aelf’s network performance, interoperability and inclusiveness, Portkey is fully equipped to serve both projects and users that are seeking to migrate from Web2 to Web3.
About Portkey
Portkey is the first CA wallet from aelf’s ecosystem, migrating Web2 users and developers into Web3 with DID solution.
Users can swiftly log into Portkey via their Web2 social info with no private keys or mnemonics required. Underpinned by the social recovery and decentralized verifier design, Portkey safeguards users’ assets from centralized control and theft. Portkey also generates nearly zero fees for account creation and user usage with its superior delegation mechanism.
Portkey provides crypto on/off-ramp services, allowing users to exchange fiat with crypto freely. It supports the storage and management of various digital assets such as tokens, NFTs, etc. The compatibility with multi-chains and seamless connection to all kinds of DApps makes Portkey a great way to enter the world of Web3.
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About aelf
aelf is a high-performance blockchain designed to support the development of Web3 and its explosion in the next 5 to 10 years. As a layer-1 network, aelf has incomparable processing speed which is even faster than most of the layer-2 projects. Built on cloud computing, aelf has a distributed network of nodes on various cloud data centers. Multiple tools like browser extensions, aelf blockchain explorer, wallet App, and SDKs have been built and open-sourced so that developers can easily build and contribute to aelf ecosystem.
