ALPHA FEED # 1
For the past few days, I've been dwelling deep into the SUI ecosystem and trying to find out some highly under-rated and revolutionary technologies building on @SuiNetwork.
During my research, I came across @0xLegacyLink which is a project building on @SuiNetwork and @ikadotxyz integration. Upon reading further about project, I was mind-blown by the technology they are working on, that's nothing short of brilliant. Unfortunately, I wasn't able to find any effective guide on twitter that would explain this technology in simple words for a layman, so I thought of taking this initiative.
OVERVIEW:
Cryptocurrency has been the safest asset class since it's existence, impossible to hack unless external compromises, but one issue and complain with this asset has been the loss of access to assets. Till date, $30B worth of cryptocurrency has been lost or gone in one way or other. People pass away with keys no one can access, forget their keys or misplace hardware wallets forever like that guy who accidentally threw his hard drive containing $BTC worth billions into a landfill and has never recovered it since.
This is exactly what @0xLegacyLink is working on to solve. They are building a solution that will let beneficiaries claim cryptocurrency from a wallet after a certain period of inactivity.
TECHNICAL KNOWLEDGE AND WORKING:
@0xLegacyLink platform is using something called legacy wallet, which is a multi-chain dWallet secured by @ikadotxyz's novel 2PC-MPC cryptographic protocol, that unifies assets from multiple blockchains and automates their transfer to designated heirs upon certain conditions. These conditions are hard-coded in a smart-contract which keeps tracking the duration of inactivity, and will execute itself after a certain period of inactivity.
These smart contracts are deployed on @SuiNetwork, and use encryption algorithms along with zero-knowledge proofs to further strengthen transparency, security and privacy.
Getting started with @0xLegacyLink is simple:
1.Connect your wallet
2.Deposit assets
3.Add beneficiaries (email or wallet address)
4.Set the inactivity conditions
5.Deploy the contract
and you're done.✅
HOW TO INTERACT WITH PROJECT:
The project is in it's initial stages right now, and whitelist applications are open for now. Just register using the link below and wait for their product to go live soon.
Registration link: https://t.co/Hy6wOgVcoI
Moreover, they also have ongoing zealy quests. You can complete them as well and accumulate XP in the meantime:
Zealy link: https://t.co/IvzxrST1cd
They are also planning to launch a native NFT collection, which will provide holders with some future benefits and perks, both in-dapp and outside. Follow their socials to stay updated with the launch date.
Future Roadmap for Project:
@0xLegacyLink is initially deploying itself as a Web3 project, but moving forward they aim to bridge Web2 with Web3 and enhance their radius of services to other assets as well
Conclusion:
I am extremely bullish on @0xLegacyLink team and the product they are building. For long I was wondering there must be some way to recover lost assets and @0xLegacyLink is bringing it to reality. This is the beauty of L1s other than Bitcoin i.e building on blockchain rather than it just being used for monetary transactions. @0xLegacyLink is using @SuiNetwork the best in this regard.
Dropping an art collection soon..
- Minting on ETH Mainnet via Opensea.
- 1000 Fully onchain 1/1s.
- Art curated from @metmuseum and made in 2-bit style.
Follow, like, repost and drop addy for WL.
@Fregs_io holders will get WL + 50% of mint the funds.
We're excited to collab with LilBeans! 🤝
15 GTD + 15 FCFS Giveaway
How to enter:
• Follow @LilBeansNFT
• Like + RT this post
• Tag 1 friend + drop your EVM wallet address
Deadline: 12 hours
Good luck 👍
The deeper you travel into the cave
the more valuable the treasure becomes
Many enter searching for gold
Only a few discover something far more precious
Patience reveals what haste never will.
My Precious 💍
3 GTD WLs + 8 FCFS spots for S|GNAL OBJECTS - free mint
on-chain forever.// ETH
to enter:
follow @SIGNAL_OBJECTS & @EarnAlliance1
like + RT this post
drop your EVM wallet in the comments
collection info:
1,999 NFTs
free mint
mint date: TBA
winners announced in 24h
let's gooooooo