Why scammers can’t steal anything from Spatium wallets.

Our “No private key” technology means there is nothing to steal.

Which cryptowallet protects your private key the best?

Some brand names come to mind, but what if we told you that, in the end, it doesn’t even matter?

Even the coldest of wallets have been shown vulnerable to hacking and theft of your private key. As long as there is a key, there is a possibility of theft. This is exactly why the Spatium Protocol does away with the private key altogether.

Scammers beware

Scammers love to find ways around even the most advanced security. One of their favorite ways of bypassing the most sophisticated security features is to go for the weakest link: the user. Unfortunately, even the most skeptical of humans are relatively easy to trick into opening or downloading content that could have a virus that grants attackers access to your device and/or allows them to discover your passwords. People’s phones can be stolen (and so can specialized cryptocurrency storage devices).

At the end of the day, the very existence of a private key puts your funds at risk of being stolen. But what if there was no key to steal?

No key — nothing to steal

The Spatium Protocol helps you crypto securely by getting rid of the single point of attack that scammers tend to exploit: the private key.

Instead, the Spatium Protocol brings together and perfects the Secure Multi-Party Computation (SMPC) algorithm and other well-tested technologies to sign transactions without generating or storing a permanent private key.

To sign a transaction without a private key, two or more devices with the Spatium wallet installed need to participate in the signing. These devices can include a PC, smartphone, tablet, Spatium hardware wallet, etc. The way each device interacts with the others allows it to create a unique signature every time, without exposing any data that would be useful to a scammer.

Specifically, each participating device has a “secret” that is unique to that device and never leaves it. The Spatium Protocol uses a specific mathematical formula for the secret to perform a manipulation with the transaction that needs to get signed, and pass the encrypted result onto the next participating device. There, that device’s own secret will do another mathematical manipulation with the encrypted data and pass it onto the next device in line.

Once all of the participating devices performed the necessary manipulations, the process repeats as many times as needed to make sure there is a one-time, accurate signature for the transaction. This signature acts like a private key without really being one. For every new transaction, the process repeats. Because of the technology involved, this process is so fast that it can be done again and again for every new transaction or for generating a public address.

And the benefit is both obvious and critical: no private key to steal. This is what we mean by being able to crypto securely.

If a scammer somehow gains control of one of your participating devices, that will still yield no access to the other devices, your data, or your funds. There is just nothing to steal. Spatium does not store anything on central servers — everything is distributed. And again, there is no permanent private key to steal.

So, understandably, scammers are frustrated with the Spatium wallet. When there is nothing to steal, what would be the point of wasting time trying?

From passing an independent audit from top U.S. cybersecurity auditor, Sera-Brynn, to letting anyone test the wallet with an openly available download from Google Play, Microsoft Store, and the App Store — the Spatium wallet is here to make hacking pointless. This is the end of the road for scammers. As for users, they can now crypto securely with Spatium.

For more details about the software wallet and other components of the Spatium multiservice platform, join our Telegram community. And since we are an open source platform — you can see the latest commits in our GitHub repository.