Assure’s Trusted Ecosystem
Assure is a decentralized Web3.0 digital wallet and asset management platform all in one. It meets the needs of Web3.0 customers by providing a safe, dependable, and easy-to-use self-custodial solution for encrypted assets.
Assure was developed by a team of blockchain industry security experts. Using offline private keys, multi-signature agreements, and multi-layer security privacy protection mechanisms, Assure ensures that each user’s private key is unique and that the user keeps it for himself and never connects to the Internet. This private key may be recovered and used with any decentralized wallet.
In addition to offering users total control over their wallet keys, Assure provides multi-signature technology guarantees and 2FA authorization verification for a variety of users’ asset operation preferences. Users can employ email verification, a digital password, a fingerprint scan, or face recognition when transferring digital currency assets.
Threshold Technology for Multiple Signatures
The primary goal of a decentralized wallet is security. To update and adjust the protocol contract, administrator authority is required. Transferring assets needs several private key signature authorizations due to Assure’s usage of multi-signature technology. Users can adjust the rules while creating multi-signatures (M-of-N). The minimum number of participants necessary for the signature to be valid is M, and the total number of participants is N. Assure’s multi-signature threshold approach has the following features:
- Mechanism: The data in the Assure wallet contract is restricted. To be more specific, there is a daily limit on the flow of cross-chain data transfer of the wallet. It is intended to guarantee data security to the greatest extent feasible at the mechanism level, so the data locked in the whole DWallet protocol has a limited amount, lowering the risk of hacker attacks.
- Technology: Assure uses multisig to certify each data flow while also assuring the cross-chain data transaction experience. Assure substantially improves the security of digital wallets in this way.
- Consensus: Assure supports a number of signature validators. It is a sort of risk management since the only way to avoid the misbehavior of one manager is to add more. At the same time, Assure employs the DRAND consensus random process to select the primary validator for each transaction, and the main validator collects signatures from other validators. The validation efficiency has substantially improved. Furthermore, for security considerations, the signatures acquired by the main validator will be revalidated by resigning. As a consequence, Assure can reduce the likelihood of primary validator misbehavior. Approximately 90% of digital asset trading terminals presently utilize wallet address management. Once multi-signature wallet management is used, the wallet’s security will be greatly strengthened.
The smart contract architecture enables the user’s on-chain transaction behaviors to self-manage transaction settlement; that is, whether the transaction criteria are satisfied and the settlement is completed, or the transaction fails, the user’s assets are always retained in the wallet under their control.
Delay in Entry Into Force
Simultaneously, the contract has created a timelock feature to take effect in a delayed manner for operations involving user assets to avoid undesired immediate impacts, and administrators can make changes during the waiting period.
Principle of Risk Minimization
When it comes to the trust link between users and protocols, Assure conforms to the minimization principle. In the first iteration of Assure’s architecture, users had to rely on the insurance contract’s verification and settlement procedure. All contract codes are open source, and on the chain, transparent contract verification is done, letting anybody view the contract’s content and fostering trust via transparency.
Audit and Bug Bonus
A professional security team will perform the first set of audits before the mainnet is launched, and the launch timeline will be determined depending on the audit report’s results. Following the launch of the mainnet, the second set of security audits will be performed based on the contracts deployed on the mainnet. A third-party node audit will be submitted prior to each contract update. Assure will continue to give Bug Bounties and encourage members of the community to report security vulnerabilities.