Torus, the startup that offers one-click logins for decentralized applications, has gone live. Earlier, Torus was available in the beta version, and people loved its simplicity and ease-of-use. In its release announcement, eight hosting partners have been announced to work on its Web 3.0 product.
Torus will be working with a host of other services to deliver a comprehensive system that encapsulates every login service on offer. Important names include Ethereum Name Service, Zilliqa, Binance, Skale, Etherscan, Matic Network, Ontology and more. These firms will be responsible for running the nodes that will further support the login system for dApps.
Torus – An important milestone for the decentralized web
Many startups don’t offer One-click logins. Torus is one an exception in the decentralized realm offering such a solution to the community members.
The next-gen Web 3.0 provides users with the ability to store their personal information safely without depending on the sneaky corporations that spy on their data. Moreover, Web 3.0 offers much more speed and efficiency in data transmission. In the practical world, these services have delivered average results and most are still in the prototype stage.
One-click logins are still comparable to the cryptocurrency in concept. Users have to maintain a private key to access their dApps. Thus, they are still responsible (and vulnerable) to hold their private key that comprises of letter strings and number combination. Just like hardware wallets, these logins are also prone to physical or digital data loss. Torus delivers an innovative solution to this issue by uniting the common login applications using private keys.
Torus is a promising startup in the cryptocurrency realm
In July 2019, Torus raised two million dollars ($2 million) in their first seed round. The round was led by industry leaders, including Coinbase Ventures, Multicoin Capital and Binance Labs. Zhen Yu Yong, Chief Executive Officer of Torus, claims that Torus can help a user login into any dApp or Web 3.0 application with lightning-fast speed without compromising on user safety. It claims to beat OAuth that powers current apps.
Torus also works with current Web 2.0 apps, including Google, Facebook, etc. In total, it partners with around one hundred applications.
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