It’s no secret that the friction for new users to on-board into the blockchain ecosystem is notoriously high, and is arguably one of the biggest reasons for it’s slow adoption. A big driver for this friction is that key management is complicated, with users managing private keys and mnemonic phrases, especially when compared to existing Web 2.0 applications with Single-Sign-On (SSO) solutions via Facebook or Google enabled. The other driver for this friction has been performance and cost. An example most of us are familiar with is the use of cryptocurrencies as payments, where Bitcoin was accepted on the Steam platform at one point, but was eventually dropped due to its price volatility, high transaction fees during network congestion and slow settlement.
As a result, we’re excited to share that both Solana and Torus have decided to collaborate to tackle these issues, as both our teams are focused on making blockchain more accessible, user-friendly and scalable for everyone. At Solana, our edge is in enabling a high-performance protocol with cost-efficient transactions and sub-second confirmation times. And for Torus it’s to provide a simple authentication solution and make key management not only as simple as existing Web 2.0 applications, but also compatible with them.
Currently the Torus network is supported by a collective of validator nodes run by Binance, Etherscan, ENS, Tendermint and other ecosystem stakeholders. Their solution is blockchain agnostic as they believe an improved developer experience/user experience should be accessible for everyone. However, they’ve prioritized this collaboration with Solana to bring the familiar web OAuth user onboarding experience to all developers looking to build applications on Solana. Specifically, this will give them access to seamless key management via Torus’ DirectAuth integration where they have full control over their own login and user onboarding or wallet systems to suit their users’ needs. Regardless of whether they are looking to build fast, secure and scalable exchanges, marketplaces or other applications tailored to mainstream crowds, they’ll be able to find their solution in Solana.
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