Win $500 in Bitcoin for sharing product feedback: Zengo Wallet AMA

We built Zengo in 2018 to fix the biggest problem with self-custody: Seed phrases. Zengo is not a hot or cold wallet. Zengo is a multi-factor MPC wallet: No seed phrase, no single point of failure.

Since 2018: Over 1,000,000 users and a milestone no hardware wallet can claim:

0 wallets taken over 0 wallets drained 0 wallets phished

Seed phrase maxis may not be interested in Zengo. That’s fine – every system has pros and cons. But Zengo’s approach solves a problem for many who don’t want to leave assets on an exchange, but are worried about seed phrases.

So no seed phrase: How does Zengo work?

Using a 2-of-2 Multi-Party Computation (MPC) framework, each of the two Zengo parties (Zengo app on user device and Zengo server) independently generate their own “Secret Share” during the wallet creation process. The secret shares are cryptographically locked to prevent MITM attacks. The share randomly generated on the user’s device is called the Personal Share and leverages the device’s hardware-based random number generator (TRNG). Only the Personal share can initialize and sign transactions, all of which are verified by the device’s hardware (Secure Enclave or TEE/Trusted Execution Environment). The share randomly generated on Zengo’s remote server is called the Remote Share and is used to co-sign transactions emerging from the Personal Share.

Using MPC, these two Secret Shares are able to compute their corresponding public key securely. NOTE: We hold the world’s largest open-source cryptographic MPC library on our GitHub, and all of our cryptography is open-source.

Single-factor (seed phrase) v. Multi-factor (MPC like Zengo)

Even if a hacker gains access to one of the two secret shares, it is still useless to them as they cannot spend user funds.

Lose your phone? The wallet recovery process is simple and secure. More info here. Worried Zengo closes? Guaranteed Access ensures you can always access your funds.

The AMA: How to win $500 in Bitcoin

In the last year we launched a series of industry firsts (built-in inheritance-style feature, Biometric Theft Protection, Multiple Wallets, and soon, Bitcoin Vaults).

The question is: What should we build next?

We will share ALL feedback with our Product team, and they will help us pick 1 winner with best insights/reasoning.

To be considered for the $500 in Bitcoin: Pls share in the thread

Your favorite feature about Zengo (as it is today) The one thing you think is most missing that will help encourage others to use Zengo as one of their main wallets.

BONUS: We will also give a bonus $50 in USDC to the best general AMA question.

Zengo Pro: If you want to test Zengo Pro features, we will share a free coupon for 1 month of Pro: Fill out this Google Form ASAP & include Code: REDDIT

(About the form: Use any email and name, we don’t care – we just need a way to email you the unique single-use code. Do not share private information online – ever.)

AMA with the Zengo team will go from 9AM EST -11PM EST on Sunday, September 8th. Until then feel free to start posting questions

AMA