The enormous growth of DeFi has scaled up the number of users utilizing non-custodial wallets. The downloads of wallets like Metamask, Trust Wallet, and Frontier have been on the rise due to the influx of DeFi participants actively exploring various DeFi primitives. Now there’s a new non-custodial wallet competitor in the market that provides an intuitive web experience to users opposing the routine token storage and token swapping capabilities. It aims to provide increased flexibility, utility, and accessibility in the cryptoverse making ultimate decentralization a reality.
TrustKeys is a new ecosystem project with trading, communication, and more built natively into a SuperApp. TKblockchain Corporation, the company behind the platform, envisions creating decentralized applications for mass audiences by utilizing cutting-edge technologies and powering innovation.
Creating a Social Network within a Decentralized Model
TrustKeys is a new project trying to be a swiss army knife for the blockchain. It is trying to build not just a conventional wallet, but an entire ecosystem for market participants. The main product being pushed here is an app-the TrustKeys SuperApp- which combines multiple features of communication, wallet services, and trading.
Blockchain has facilitated a lot of projects over the past decade. With the amount of news, developments, trading, and much more going on every day, it could become tedious to keep track of it all. This seems to be the niche that TrustKeys is exploring. Rather than producing multiple services for different things. The project has created its ‘SuperApp’ to serve the functions users would usually have to depend on multiple apps for. The first feature native to the app is its wallet.
The wallet is a non-custodial wallet like Trustwallet, Metamask, SafePal, and others. This means that users will be in complete control of their wallets and no one can access it apart from them. While wallets and holdings on centralized exchanges are made to be integrated into the platform and ultimately have restrictions on what you can do with them, non-custodial wallets are personal. Essentially they are a digital form of the kind of wallet you would keep in your pocket for daily activities. To bolster security on the app, users will be obligated to create a 24-word seed phrase which is more protected than the conventional 12-word seed phrase that most wallets use.
SuperApp for Super Humans?
Further, the SuperApp also has a dedicated social media and messaging platform. This seems to have also been developed with security in mind. All messages sent are end-to-end encrypted. Along with this, messages sent are automatically deleted after a certain period, a feature reminiscent of Whatsapp’s new disappearing message feature and the Snapchat platform. Using this social media platform users will be able to interact with other users in the crypto space. It would probably be a stretch to think this could replace Twitter or Facebook in your life as the number of people in the crypto community is comparatively smaller and with only about 10k downloads, the TrustKeys social media platform is even less populated.
What this app does represent however is an alternative to traditional forms of exchanges. The platform comes inbuilt with the ability to send and receive crypto. With this and the ability to communicate, this could easily serve as an alternative to the traditional p2p systems native to most exchanges. Although with the disappearing messages, recourse in the event of a faulty trade could be a problem. That, however, would be up to the discretion of the team handling the app.
The SuperApp is a HEX(Hybrid Exchange) which is less popular than its brother exchange types CEX and DEX which stand for centralized and decentralized exchange respectively. The HEX system is a hybrid of both types of conventional crypto exchanges. For the TrustKeys ecosystem, the exchange gives you features typical of regular centralized exchanges such as buying and selling of cryptocurrencies but also creating a new account easily like creating a non-custodial wallet.
The project has currently publicized its documentation including the whitepaper. Users can also download the TrustKeys application to experience the look and feel of the platform. The project has raised successful funding and is working to ameliorate the user experience of the platform. It aims to bounce back with an intuitive and engaging UI to attract native crypto users. The project is quite actively engaging across its community and is in talks of announcing its upcoming token offering and launch.