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Overview
Web3Auth provides authentication infrastructure for Web3.0 wallets and decentralized applications. It offers a plug-and-play service that lets developers add user onboarding and secure login to DApps using MPC-based cryptography, eliminating seed phrases. The product works by handling key management and authentication flows on behalf of the app, enabling users to sign in with familiar methods while keeping their crypto keys secure through multi-party computation. Web3Auth differentiates itself from competitors by focusing on developer-friendly authentication infrastructure for the Web3 space, simplifying onboarding for mainstream users, and reducing security frictions and support needs. Its goal is to accelerate Web3 adoption by making secure, easy-to-use login and onboarding accessible to any DApp or wallet, converting more visitors into users and reducing barriers to entry.
About Web3Auth
Industries
Enterprise Software
Cybersecurity
Crypto & Web3
Company Size
11-50
Company Stage
Series A
Total Funding
$15M
Headquarters
Singapore, Singapore
Founded
2018
Simplify's Take
What believers are saying
- ConsenSys acquisition integrates Web3Auth into MetaMask for 50 million users.
- Zilliqa EVM integration expands hassle-free logins to EVM-compatible chains.
- SafeAuth partnership with Safe enables seedless wallets via social logins.
What critics are saying
- ConsenSys deprioritizes Web3Auth roadmap, causing developer churn in 12-24 months.
- MPC vulnerabilities expose 50 million users' keys, triggering exodus in 12-36 months.
- Regulators reclassify MPC wallets as custodial, imposing AML/KYC in 12-24 months.
What makes Web3Auth unique
- Web3Auth uses MPC threshold cryptography for secure key management without seed phrases.
- Enables Web2 logins like Google for seamless Web3 wallet onboarding.
- Serves 8200+ apps and 50 million users with non-custodial authentication.
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Funding
Total Funding
$15M
Below
Industry Average
Funded Over
2 Rounds
Industry standards
Growth & Insights and Company News
6 month growth
↑ 15%1 year growth
↑ 15%2 year growth
↑ 15%ConsenSys, the developer of MetaMask, has acquired Web3Auth to enhance the wallet's user experience and address seed phrase management issues. The deal's amount is undisclosed. Web3Auth, serving 50 million users and supporting over 8200 Web3 apps, will enable wallet creation and recovery using familiar Web2 login methods. The integration will also facilitate non-EVM network support, like Solana and Bitcoin, allowing seamless cross-chain transfers without gas fees.
Consensys has acquired wallet infrastructure provider Web3Auth for an undisclosed amount. Meanwhile, BTC prices are below the EMA24 and EMA52 moving averages, indicating a continued downward trend. Despite a KDJ golden cross suggesting a potential short-term reversal, trading volume is low, and large transactions are absent, signaling market uncertainty. The MACD dead cross below the zero axis suggests caution against further pullback risks. This data is from the PRO member's BTC/USDT Binance 2-hour candlestick.
Today, we’re thrilled to announce that Web3Auth is now part of Consensys! When we first started in 2019, our mission was simple: to make digital ownership and identity accessible to everyone.
Consensys, the company that owns MetaMask, has acquired Web3Auth, a crypto security management company.
NEW YORK, Nov. 19, 2024 /PRNewswire/ -- Best Web3 Inc. introduces Best Wallet, an easy-to-use crypto wallet that allows users to seamlessly buy, swap, receive, and sell cryptocurrencies like Bitcoin, Ethereum, Solana, and USDT.Best Wallet supports thousands of cryptocurrencies on 50+ major blockchains, making it the best place for crypto users to access and manage their assets
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About Web3Auth
Industries
Enterprise Software
Cybersecurity
Crypto & Web3
Company Size
11-50
Company Stage
Series A
Total Funding
$15M
Headquarters
Singapore, Singapore
Founded
2018
There are no jobs for Web3Auth right now.
Find jobs on Simplify and start your career today