Ruby One — Launching Ruby Protocol’s MPC Wallet
Ruby One is the most user-friendly Web3 wallet to manage your crypto.
The only way to protect crypto is to build crypto.
The only way to serve privacy is to build privacy tools.
The only way to move forward is to break the status quo.
Since we started working on building services and tools for your privacy and data access control, each day has been a new chapter for us.
Building Ruby Protocol is to cultivate a mindset that embraces constant challenges and evolution. The diversity of today’s data needs, the density of its technical landscape, and the growing incumbent system keep pushing us forward and beyond the known territory.
Nobody can triumph standing still.
Ruby One is the most user-friendly Web3 wallet to manage your cryptocurrencies.
Ruby One, our MPC Wallet, is one of our answers to the many challenges ahead 👇
Challenge 1: Not Your Keys Not Your Crypto?
It is true that disclosing your private keys is tantamount to giving up your crypto.
However, reality shows it is too much to ask from everyday users.
The mantra “Not Your Keys, Not Your Crypto” has resulted in countless cases of lost and stolen seed phrases, misplaced private keys, a huge mental load for new users in crypto, and a massive exodus to centralized exchanges, where the ordinary Joe is forced to be subject to the whims of SEC.
Challenge 2: Centralized Exchanges Are SAFU?
The following headlines explain everything.
Headline A: SEC sues Binance and CEO Changpeng Zhao
Headline B: SEC sues Coinbase over exchange and staking programs
Headline C: Cryptocurrency exchange FTX now worthless
Headline D: Crypto lender BlockFi files for Chapter 11 bankruptcy
Challenge 3: Crypto Ideology vs Crypto Practicality
Behind the crypto movement is an ideology about social changes. However, while that is good and progressive, we must not forget that if the barrier to joining the force is too much, we might not have any support at all.
Either end of the extreme will not introduce crypto to mass adoption.
It is time to meet in the middle.
Ruby One As The Most User-Friendly Wallet to Manage Your Crypto
Crypto is cool but very hard.
We feel your pain.
Now starting with the Ruby One — MPC wallet, crypto is never easier. You can now forget about the seed phase, private keys, and the random string of characters.
Ruby One is a better way to crypto. It is a hybrid solution in the form of the cryptography called MPC, or multi-party computation, and many web3 and crypto native technologies.
In the case of Ruby One, MPC technology allows the creation of a secure key management system without a single point of failure, in which multiple parties can jointly perform all needed cryptographic functions, dividing the private key into three separate parts:
- User’s Local Share
- Ruby Server Share
- Third-Party Cold Storage Share
Building upon our MPC-based private key management system, we’ve designed an advanced account system that employs contract accounts instead of Externally Owned Accounts (EOAs). This approach carries several significant advantages for institutions and retail users too.
Trustless
Don’t trust us. Trust in the cryptography and technology from MPC-TSS.
Threshold Signature Scheme (TSS) serves as the base layer of the MPC technology, unraveling the multisig problem. It improves data protection while reducing the risk of single-point-failure.
Seedless
We understand seed phrases are too much for you. Now you can now forget about it.
Seed phrase is lost? Try social recovery.
DKIM (DomainKeys Identified Mail) enables you to get verified and manage the recovery of contract accounts using your everyday emails. It is an extra layer of security and peace of mind on your cryptocurrencies.
Seamless
We know you are already used to the convenience of Web2. Now just use your Web2 accounts to crypto.
With multiple security layers, Ruby MPC Wallet still renders your Web3 experiences seamless, allowing you to use your emails, Google, or other social accounts to crypto.
Gasless
Open Internet should be free. Crypto should be cheaper, with almost 0 gas fee. Now there is no need to fret about cost when relayers sponsoring gas for you.
Ruby V2 and the rollout of Ruby One (Ruby MPC Wallet) mark the beginning of a new chapter of Ruby Protocol.
With our wallet and MPC solutions in place, Ruby Protocol will add another layer of protection to user information, which ensures that only authorized computing nodes will have access to specific pieces of data, limiting the possibility of data breaches and unauthorized access.
Plus, with its simple user interface reducing the likelihood of user error, this solution will give our users peace of mind regarding the safety and security of their personal wealth and sensitive data.
About Us
Ruby Protocol is a privacy centric access control protocol, building an interoperable, scalable and privacy-preserving infrastructure as the ultimate gateway to Web3.
Our solutions and products include a private payment bridge (Ruby Connect), MPC wallet (Ruby One), and Account Abstraction & Access Control developer tools (Ruby SDK), with more to come.
