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Two-Factor Authentication (2FA)

Introduction​

Two-Factor Authentication (2FA) is a user verification method that employs two distinct layers of security, enhancing the safety of your account. W3Smart Wallet has integrated 2FA into our system to ensure that your digital wallet is protected from unauthorized access and malicious attacks. In this article, we'll explore the benefits and features of 2FA in W3Smart Wallet, and how it contributes to the security of your digital assets.

How 2FA Works in W3Smart Wallet​

Traditional non-custodial wallets rely solely on your private key for security. If your private key is compromised, you lose control of your wallet, and attackers can execute transactions without your knowledge.

With W3Smart Wallet, our system acts as the first guardian to protect your wallet (please refer to the Guardian-based security document). When you initiate a multisig transaction, we activate 2FA by sending an OTP code to your email to verify your identity. Successfully verifying OTP code means the system guardian signs and approves your transaction request.

Customizing Your 2FA Setup​

If you prefer a completely non-custodial wallet and don't want us to act as a guardian, you can remove us by disabling 2FA and adding other trusted guardians (e.g., friends, family members).

You can also re-add us as a guardian at any time, we give you full control over your wallet's security setup.

2FA Role in Multisig Transactions​

In cases where you have more than two guardians, our guardian signature isn't mandatory for a transaction to be executed. Enabling 2FA simply allows us to help you submit transactions to the blockchain.

You can independently send multisig transactions to the blockchain when more than 50% of your guardians agree.

Benefits of 2FA in W3Smart Wallet​

2FA brings a lot of advantages for users:

  • Enhanced Security: By introducing an additional layer of verification, 2FA makes it significantly more difficult for unauthorized individuals to access your wallet.
  • Flexibility: W3Smart Wallet allows you to customize your wallet's security settings by adding or removing guardians as needed.
  • Peace of Mind: With 2FA enabled, you can trust that your digital assets are safeguarded against potential threats.

Conclusion​

Two-Factor Authentication in W3Smart Wallet provides an essential layer of security, ensuring that your digital assets remain safe and secure. By offering customizable guardian settings and multi-guardian transactions, W3Smart Wallet gives you the control and peace of mind you need to manage your digital wallet with confidence.