Worldcoin’s Proof of Personhood solution provider, Tools For Humanity, has announced its intention to team up with the fast-rising web3 wallet developer, Kresus. The collaboration will see yet another cryptocurrency project put World ID, the decentralised identity system most notably utilised by Worldcoin, to use. With World ID 2.0 integrated, the Kresus SuperApp will effectively do away with seed phrases, a move that is expected to help expand its territory.
An answer to the seed phrase question
Non-custodial wallets typically use seed phrases with 12 or 24 words for security. For the most part, this system is reliable, but there’s always a risk that you can wrongly record your mnemonic phrase or even lose it. Many wallet developers, Kresus included, have been working on a solution to this problem in recent years.
For most developers, the best way to deal with the downside of seed phrase is to use more robust alternatives. For Kresus, this means implementing extra security features including time-delayed transactions and social login like Google or Apple. This ensures your funds remain secure, even if an attacker gains access to your phone and the wallet software.
World ID 2.0, which will be implemented with the help of the Tools For Humanity team, is an extra security measure. In addition, Kresus will be able to incorporate new features that require users to verify their identities. The “Proof of Personhood” feature by World ID within the Kresus app is optional and not mandatory.
Incorporating World ID is not only essential to Kresus’ mission, but Tools For Humanity will also reap some benefits from the arrangement. Kresus Labs has developed a top-tier seedless wallet, and in exchange, they have offered to help the Worldcoin developer come up with strategies and technical aspects of the project.