Portkey Demonstrates the Positive Impact of Social Recovery on Wallet Functionality and Security

Portkey, a contract account wallet with a decentralized identity solution, is aiming to make Web3 more accessible to Web2 users and projects. The current entry point for Web3 wallets has issues with usability, security, and self-custody. Portkey’s social recovery mechanism uses aelf’s account abstraction feature to register users with phone, email or other social accounts without using EOA wallets or accessing and using wallets directly with private keys. The identity verification process is decentralized, ensuring users’ identities and wallet accounts remain self-custodial. The verification process can include multiple guardians, which strengthens wallet security and removes the risk of a single point of failure. Portkey is also more affordable than other contract account wallets, as the application or partnered applications cover the fees for users. Portkey is one of the few wallets currently carrying out DID and social recovery processes seamlessly. By delivering easy usability, total self-custody, extra security and low fees, Portkey has strong potential to lead the migration from Web2 to Web3.