CyberWallet: Enhancing Security Measures by Incorporating Ultimate User Verification Solution

About CyberWallet

CyberWallet is a cutting-edge, non-custodial decentralized crypto wallet that blends the convenience of popular wallet features with advanced account cybersecurity controls, providing users with powerful tools that offer full control over their financial assets.

What sets CyberWallet apart from other crypto wallets is its primary focus on security. It is the only wallet that provides secure, automated backup of seed phrases and private keys. Plus, CyberWallet supports the MultiSig Wallet feature (i.e., multi-signature wallets that require two or more private keys to perform certain actions), which ensures the integrity and security of the personal, joint, or corporate assets.

CyberWallet Business Requirements

There is a security issue with some decentralized applications: The same user is identified as a different person on different devices.

CyberWallet needed to approach this problem holistically. That was the key to finding a technological means that would strengthen the app’s security:

1. The team needed to incorporate a unified and adaptable user verification and authentication system that would make it easy and fast to authenticate a user in the same way across all media, be it a PC, a smartphone, a browser, or an app.
2. Another challenge the team faced was the need to apply a convenient second factor for action approvals within the app, which is critical for two-factor authentication (2FA), -- the goal was to ensure the security of transactions and users' personal information during their use of the wallet.

To address these cybersecurity risks, the team turned to HyperID.

HyperID Solution: Secure, Fast User Authorization and Private Data Protection Methods

What HyperID does is it simplifies the onboarding for Web 2.0 users, as all it takes is an existing email and password or a social network account, and they are seamlessly integrated into the expansive and diverse crypto community.

And with the HyperID Authenticator, a MFA-enabled mobile app, users can securely and promptly log in to their HyperID account and confirm sensitive actions using biometrics, SMS, OTP, or a QR code.

Currently, HyperID Authenticator is available at the Google Play Store and the Apple App Store.

With the integration of HyperID, CyberWallet has completely achieved the goals that the team set out for themselves.

1. HyperID helped solve the user authentication challenge in the app: users now have only one account for different devices, through which they can log into their CyberWallet account from both their phone and their PC browser.

2. HyperID also allowed CyberWallet users to greatly increase the security of their funds through multi-factor authentication (MFA) settings - for every action in CyberWallet, be it transferring funds or confirming account login, users are prompted to confirm their actions. They can do so either through the HyperID Authenticator App or by setting up the second factor directly in the HyperID account.

Summary

CyberWallet, the most secure decentralized crypto wallet, has seamlessly integrated HyperID's leading-edge digital identity validation solution. This integration effort not only significantly strengthened the protection of users' wallet accounts, ensured a fast, secure login experience, and explicit user identification, but it also improved user confidence in the CyberWallet app.

The integration with HyperID has also brought forth exceptional benefits to CyberWallet users:

• Users now enjoy a unified account enriched with convenient features, including KYC verification, MFA setup, confirmation alerts, and more.
• The user experience is now even simpler and more straightforward: users can easily share their KYC status (with their explicit consent) with different services without disclosing any personal details, eliminating the need to repeat the procedure for each service individually.

Overall, HyperID didn't just bolster the security of CyberWallet users; it also added an extra layer of authentication, enabling users to validate actions such as digital asset transfers with advanced biometric confirmation.