

How Odsy Network Plans to Solve Access Control Issues Using dWallets



The co-founder of Odsy Network wants the new blockchain to be the Access Control Layer for all of Web3, via Dynamic Decentralized Wallets (dWallets).
Odsy Network, dWallets
New security-focused blockchain Odsy Network aims to bring decentralized and flexible access control to crypto users on any blockchain, via Dynamic Decentralized Wallets (dWallets).
Omer Sadika , co-founder of Odsy Network and CEO of dWallet Labs, told BSC News during the recent Messari Mainnet event:
“Access control is something so fundamental, yet so basic that people do not even think about. The idea behind the Odsy Network is to solve the access control problem in crypto caused as a result of the binary choices which pushes Web3 projects towards centralized alternatives. We see Odsy Network as the Access Control Layer for Web3, and it is also the blockchain for dWallets.”
In essence, dWallets aim provide the quality and ease of access control currently provided by centralized entities (i.e. crypto exchanges) but in a decentralized manner. The Odsy Network is a purpose-built layer-one blockchain with its main utility being dWallets. A dWallet lives on Odsy Network and is bound to a smart contract that manages access to the dWallet, from any other blockchain.
The nature of dWallets also allows for transfer of wallet ownership, like other digital assets.
Sadika said, “dWallets is a new primitive on the blockchain that is programmable and transferrable which means it could be treated as an asset and business logic can be written on top of it. There are many more use cases that we are thinking about. Because dWallets are transferrable, we could create a marketplace for dWallets so users are able to trade dWallets.”
dWallets could be used to build secure Retail and Institutional Custody solutions since they are integrated with MPC (MultiParty Computing) to enhance privacy and security. In addition, Web3 projects such as natively multi-chain Decentralized Autonomous Organizations (DAOs) can utilize dWallets to enable decentralized access control and granular access sharing in an interoperable manner between different networks.
“The way that users interact with blockchains today is too direct, with no flexibility. The beauty of dWallets is that users can give limited access to other parties, products, or solutions,” Sadika said.
dWallet Labs announced a $5 million pre-seed round in August, led by the Digital Currency Group (DCG) and Node Capital.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Related News


Ether Futures ETFs Hit the Market: ProShares, VanEck, and More Offer Options

This marks the first-ever ETFs based on ether futures, following the introduction of the first bitcoin futures ETF two years ago.
Summary
- A range of exchange-traded funds (ETFs) targeting the performance of ether futures have been launched.
- These offerings mark the first-ever ETFs based on ether futures, coming almost two years after the introduction of the first bitcoin futures ETF.
In a significant development for the crypto industry, a range of exchange-traded funds (ETFs) targeting the performance of ether futures have been launched. These offerings mark the first-ever ETFs based on ether futures, coming almost two years after the introduction of the first bitcoin futures ETF.
Renowned for launching the first U.S. bitcoin futures ETF, ProShares leads the charge with the launch of the ProShares Ether Strategy ETF, along with two additional offerings that provide a blend of exposure to both bitcoin and ether. ProShares’ CEO, Michael L. Sapir, expressed optimism about the appeal of these crypto-linked ETFs to investors, stating, "We think that many investors who are interested in cryptocurrencies but are concerned about custody risks, or who are challenged by the learning curve and complexities required to buy them directly, will be attracted to our crypto-linked ETFs."
Bitwise also joined the fray with two ether futures ETFs: the Bitwise Ethereum Strategy ETF and the Bitwise Bitcoin and Ether Equal Weight Strategy ETF.
VanEck, a prominent asset manager, has also entered the arena with the VanEck Ethereum Strategy ETF. This ETF is designed to target capital appreciation by investing in ether futures contracts, providing investors with an alternative path to participate in the robust futures market centered around Ethereum.
Additionally, the VanEck Ethereum Strategy ETF has also entered the market, “designed to seek capital appreciation” through ether futures contracts. As highlighted by Kyle DaCruz, Director of Digital Asset Product at VanEck, these offerings provide a means for investors to tap into the robust futures market surrounding Ethereum.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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