The safest way to connect to dapps: Non-custodial mobile wallets with MPC! -
November 20, 2020

The safest way to connect to dapps: Non-custodial mobile wallets with MPC!

The safest way to connect to dapps

Nash’s multi-party computation technology (MPC) keeps a user’s full private key secret. This means that connecting to dapps through our mobile app is considerably safer than using a browser extension!

Most people think blockchain transactions are signed with one all-powerful private key. But with MPC, Nash generates signatures using two sub-keys instead. One sub-key is held by the user, the other by Nash. This lets Nash add security features like withdrawal limits and address whitelists. If an attacker has obtained the user’s login details and tries to withdraw assets to an unapproved address, Nash can simply reject the transfer.

Because MPC never uses full private keys, it offers hardware-level security without any cost or fiddly UX. At the same time, because each sub-key is useless by itself, Nash cannot do anything with the user’s funds. It is a non-custodial solution.

The safest way to connect to dapps

Both the iOS and Android versions of the Nash mobile app are integrated with WalletConnect, making it easy to connect to dapps. And because your Nash mobile wallet is powered by MPC, you’re never using your full private key when signing dapp transactions – much safer than a browser extension!

For a long time, interacting with dapps meant running a browser extension wallet like MetaMask. Such wallets allow users to access whatever dapp infrastructure lies on the normal web while at the same time making a wallet available to interact with its blockchain-based smart contracts.

Using browser wallets comes at a cost, however. Browser wallets don’t offer an ideal user experience for generating and securely storing a seed. Many users prefer to keep their coins on hardware devices or within an existing wallet. Interacting with dapps hence means generating a new wallet in the browser and transferring funds across.

Of course, it’s also possible to copy a wallet’s private key into a browser extension, “connecting” it to a dapp – but this is far from an ideal solution. Not only can the process be fiddly, but it leaves a private key exposed for a certain amount of time. This is to say nothing about using dapps conveniently on mobile devices, or the relative ease with which fake wallet apps can steal user funds.

Thanks to WalletConnect, connecting to dapps on Nash is as simple as scanning a QR code. And with MPC powering your Nash wallet, you can be absolutely sure your funds are safe!

Get the Nash mobile app here.

You can stay up to date with Nash by following our Twitter and Instagram, as well as joining our official Telegram group. We also encourage all Nash Exchange token (NEX) holders to join our community platform, where they can talk directly with the team and receive reliable answers to questions.

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Nash was the first Crypto Platform in Europe registered by the Financial Market Authority (FMA) of Liechtenstein. Nash is also registered with the De Nederlandsche Bank N.V. (DNB).
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Rates may vary over time. Crypto-powered earnings on Nash are not covered by any deposit guarantee schemes like bank savings accounts and involve risks unique to the underlying technologies: (i) Exploitations of the smart contracts used; (ii) Forex fluctations between your national currency and the US dollar, which underlies crypto earnings assets; (iii) USD stablecoins losing their peg. 
Nash is a trademark of Neon Exchange Aktiengesellschaft. Neon Exchange Aktiengesellschaft is an exchange bureau registered with the FMA of Liechtenstein (TT Exchange Service Provider Nr. 261096 as defined by the Token- und VT-Dienstleister-Gesetz / TVTG, 3 October 2019)
Nash Exchange B.V. is registered with De Nederlandsche Bank N.V. (DNB) as a provider of crypto services. DNB conducts supervision and monitors Nash Exchange B.V.’s compliance with the Money Laundering and Terrorist Financing Prevention Act and the Sanctions Act 1977. Nash Exchange B.V. is not under the prudential supervision of DNB nor under business conduct supervision of the AFM. This means there is no supervision of financial requirements or business risks and no specific consumer financial protections.
Neon Exchange Aktiengesellschaft is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870) for the issuance of electronic money and payment services. Your account and related payment services are provided by Modulr Finance B.V. Your funds will be held in one or more segregated accounts and safeguarded in line with the Financial Supervision Act – for more information please see this link.
Neon Exchange Aktiengesellschaft also provides fiat-crypto exchange services. These are separate and unrelated to the account and payment services you receive from Modulr Finance B.V.