- Torus is a startup and new in the crypto ecosphere, aiming to offer a key management tool to the decentralized app (Dapps).
- It has been in beta for a while testing features and getting decent enough to launch it to the outer world and on Thursday, February 13, 2020,
Torus is a startup and new in the crypto ecosphere, aiming to offer a key management tool to the decentralized app (Dapps). The key management system in Blockchain Is essential as, in the blockchain industry, everyone knows if you forgot your password, the only option is to reset your account which is not cool completely and that makes this startup idea flourish by providing a one-click login to such apps.
Torus Key Management System based on Web 3.0
Web 3.0 is an internet space or web application which will be getting improved by every individual user and get personalized enough to understand the user and recommend him only that data that intrigues him.
It has been in beta for a while testing features and getting decent enough to launch it to the outer world and on Thursday, February 13, 2020,
Torus launched its first stable version 1.0 with an initial offering of eight hosting partners. The products it launches alongside Binance, ENS (Ethereum Name Service), Etherscan, Matic network, Ontology, Skale. Tendermint Core and Zilliqa.
A high-throughput public blockchain platform – designed to scale thousands of transactions per second. Torus is elated to be journeying with @zilliqa to build the #blockchain ecosystem towards a more practical future. #torus pic.twitter.com/yt67Lm76Lr
— Torus (@TorusLabs) February 14, 2020
They will be the running nodes supporting the decentralized login system. Torus ensures the keys it will be storing will done by an MPC style key management system that will process the user’s key and generate a distributed network that will be shared with independent node operators for them to store. The authentication of these accounts will be verified by using a real social media profile or digital profile of users like Google. The nodes will be Dynamic, which, after a predefined time, it will migrate keys across nodes.
One-click login for Dapps
The one-click login service promises access to Dapps with user’s social media presence on the internet such as Google, Reddit, Facebook, Discord, or Twitch within a single step, and no additional installations are needed.
Torus is very transparent about how it is getting financially incentivized by the nodes, which bring in revenue through logins, and the Node-list is public to strengthen further the trust they are putting on Torus. Torus as a Decentralized Custody, its every part of the system, is open source, from the backend code run by the company operators to the front-end client, which the users load up.