Our Alpha Release of SIX Wallet : What you can expect?
According to our Strategy & Vision that was released a few weeks ago. Returning the power of control to people. Replace other complicated unnecessary function by simplifying the feature and design. For this reason, our wallet was developed to be the most friendly wallet.
Our first release is to build a strong foundation and provide the smooth and nimble experience. With passionately will, we want to shows that our user friendly crypto wallet can work well along with strong security mechanism called MultiSIX and other feature you can expect for in the future.
The Design Thinking Process
We spent lots of hours emphasizing people in the cryptocurrency industry. Defining their pain point and conduct more interviews session to hear what they like and dislike about the experiences with the most popular crypto wallet in the market. Here are some of the findings we got.
- Crypto wallets are slow (most of the users at the moment use Bitcoin wallet or ERC20 Wallet)
- Lots of people are still not getting used to the usability of how they need to save the seeds themselves
- Many people experienced losing their seeds. Some did writing error so that they could not recover their wallet and lost the money.
- Average transaction time is around 5–15 mins with lots of redundant conversation.
- And the top issue everyone mentioned is ‘the usability of when they want to transfer money using “crypto addresses” is really annoying. We need to copy the address or scan QR, paste into the wallet, come back to chat to check that the address is correct. Then after long waiting time for the blockchain confirmation, they need to copy the transaction id to paste it again to the recipient chat to let them recheck that they will receive money.
At SIX network, we believe the usability issue directly affects to the crypto wallet adoption rate which redesigning will be our first priority task. In this version, the objective is to create a better experience for people when they are using the crypto wallet. However, the more exciting feature will be introduced in the next version soon.
The Technology and Usability team is working on the above issue to solve it. As we envisioned in our previous post, here again, are some important topics we are working with
- Usability x Secured
- Forgot password
- Username instead of long address
Our SIX Wallet Feature (Alpha release)
SIX wallet was built on the foundation of simplicity and usability. Our main goal is to change the way people use crypto wallet which is hard to use and slow for now. For this reason, our wallet will be daily life platform that everyone can easily access which redesign those features to answer all the pain points that people is facing.
- Access app using only PIN code.
- Easily complete all transaction by using the only username. (SIX wallet to SIX wallet)
- Use public key only to complete your transaction with another wallet. (SIX wallet to another wallet)
- Track your transaction history.
- Live cryptocurrency charts.
The multisig wallet is a wallet that requires another user to sign a transaction before broadcasting to the blockchain. By designing a multisig wallet, SIX Network could help users keep their private keys (in an encrypted form, we could not decrypt the keys as well) onto the distributed + permission network.
Why do we need that?
As we want to improve the UX of how people use a crypto wallet, we need more signers to help do some wallet operations such as recover their seed or password. Also, this could reduce the probability risk of losing the seed or private key that users lose it.
MultiSIX (Multi-signature) will be our killing feature which giving a push on our wallet to be outstanding from the other since the Alpha version.
For instance, every transaction on SIX wallet will be required at least 3/4 keys to made a transaction.
The first key will be kept by the user who is requesting on the transaction and another one will be kept by SIX network’ s server who will help to confirm those transactions from the user.
All the data from the user side will be encrypted (KEY A) and send to our server which will be clarified and compare with another encrypted data (KEY B). If those 2 key is a match, the transaction will be complete.
In case the server got hacked, your money still safe as hacker did not get data from the user as well as if the user got hacked, the encrypted data (KEY A) will be unmatched with KEY B from the server which means all transaction will be incomplete.
Learn more about Multi signature (MultiSIX): https://youtu.be/yeLqe_gg2u0
Centralized or Decentralized?
Semi Decentralized with ease of use
SIX Wallet helps users keep two keys in encrypted form, but we need 3/4 keys (one from the user) in order to sign a transaction. So this reduces the risk of when the user loses the private key, and lose all money, but still useless even the hacker could hack the server. Yea, this is not 100% decentralized yet a mix of secured x convenient way to use crypto wallet.
Username instead of long address
Username is made SIX wallet become the most human-centric cryptocurrency wallet. Apart from copy/paste long addresses, now that you could easily send money to your friends via @username instead. So, please hurry to grab your username!
2018 SIX Wallet development plan
Our goal toward 2018 is to get a proof of concept with the business alliances that have joined and founded SIX Network. We have been architected it into 3 main parts which you can expect in a couple month.
- SIX Wallet: a single point for all your digital assets.
- Core Services: Provide API for SIX Digital Asset Wallet and business integration. This shall be the infrastructure of the digital services. In 2018, we will start with the financial services layer which includes the payment API for businesses.
- Business Integration & Tokenization: Our go-to-market strategy is to integrate with as many related digital businesses as we could by providing SIX Network infrastructure for any strategic partnership.
SIX wallet Release Date
This is the last paragraph and you need to do something after finish your reading. Lock on your calendar 9th August 2018, our wallet will be ready to grab. So, please test it and feel free to leave the message for us as we will keep improving for your best benefit. > Link to the FB messenger for feedback.
And definitely, not only simplicity and tough security mechanism, SIX wallet will offer no transaction fee (2018) as well.
Lastly, we hope you can enjoy our alpha release version of SIX wallet and please drop your comment to us.
Stay tuned to the next update! Adios!
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