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CA wallet Portkey to become Web3 “Super Application” with various utilities

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Portkey, the first CA (contract account) wallet with DID (decentralized identifier) built on aelf network, introduced how it addressed the current pain points aching with a crypto wallet and enabled the massive migration from Web2 to Web3 at Consensus 2023 in Austin, Texas. 

The CA wallet coming to live supported by account abstraction technology of aelf, the high-performance layer-1 blockchain network, features easy login without seed phrases, the capability of social recovery, full decentralization, low cost, and interoperability among different networks. Equipped with all these merits, Portkey is deemed to be a strong competitor to become one of the biggest gateways to Web3, if not the biggest. Moreover, Portkey offers both CA wallet to users and CA wallet SDKs to developers. Hence, it is highly anticipated that Portkey will soon attract an influx of users and projects from Web2 and Web3. 

With the above being said, it can be expected that Portkey can become a Web3 “Super Application” where users get access to abundant DApps of various utilities within the wallet. As of now, Portkey already supports a considerable number of essential and innovative utilities for Web3, with some of them coming on the way. 

First and foremost, Portkey supports on/off-ramp fiat to crypto exchange powered by Alchemy Pay. Web2 users can simply obtain their first batch of cryptos via Portkey just like making a purchase via Paypal. Developers also don’t need to worry about the inconvenience for potential users to purchase their well-designed or rendered digital assets. In terms of digital assets, Portkey allows peer-to-peer NFT transfers, which would add liquidity to the first-tier market of NFTs. It could also lead to an in-app NFT marketplace adding liquidity to digital assets. 

One of the biggest utilities Portkey supports is Gaming. Having plenty of elements closely related to or could be related to Web3, such as digital assets, decentralized governance, metaverse, and so forth, gaming is deemed as a strong potential force for the future of Web3. Different from CA wallets or crypto wallets on other networks, Portkey is compatible with C# coding language, which is a widely used programming language for Web2 games. By providing them with the CA wallet SDKs compatible with C#, Portkey positioned itself as the strongest tool to onboard Web2 games onto Web3. In accordance with this, Portkey users can expect to discover and explore the largest amount of good quality Web3 games within the wallet application. 

And this would have ripple effects on Portkey to attract more DApps in the areas beyond gaming or say, GameFi, such as DeFi, SocialFi, and other innovative Web3 DApps. With the convenient CA wallet tool, and at the same time, the high performance delivered by aelf which theoretically has unlimited scalability due to its main chain plus side chain structure and has a main chain TPS of around 35,000, Portkey foresees a steady and yet exponential growth of in-app DApps. 

On top of the above, due to the interoperability of aelf, Portkey can also accommodate projects from other blockchain networks, including EVM-compatible ones. To accompany this, Portkey allows projects to pay gas fees using multiple tokens including non-native tokens to aelf. In this way, Project owners can expand their range of applications to increase their competitiveness, attracting more potential users and creating more traffic.

Token issuers can extend the use cases of their tokens and connect them with Portkey and to aelf ecosystem to enhance their liquidity. Users can enjoy the convenience and flexibility of using different tokens across different chains. Together, this will enlarge the scalability and richness of DApps within Portkey and do the same with an ecosystem of aelf. 

About Portkey

Portkey is the first CA wallet from aelf’s ecosystem, migrating Web2 users and developers into Web3 with DID solution.

Users can swiftly log into Portkey via their Web2 social info with no private keys or mnemonics required. Underpinned by the social recovery and decentralized verifier design, Portkey safeguards users’ assets from centralized control and theft. Portkey also generates nearly zero fees for account creation and user usage with a unique delegation mechanism.

Portkey provides crypto on/off-ramp services, allowing users to exchange fiat with crypto freely. It supports the storage and management of various digital assets such as tokens, NFTs, etc. The compatibility with multi-chains and seamless connection to all kinds of DApps makes Portkey a great way to enter the world of Web3.

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Disclaimer: This is a paid post and should not be treated as news/advice.  

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With Masters in Mass communication and journalism, Anjali's interests lie in blockchain technology adoption across emerging economies.
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