Hello, Dfinity community!
This is our first post here, and we come with a question that’s been bothering us: How do we make digital asset management as easy as using Gmail, without compromising security and decentralization?
The Problem We See
Most people are still scared of Web3 because:
- They need to remember 12-24 word seed phrases (and not lose them!)
- Every address mistake means lost money
- Each blockchain requires a different wallet
- Lose your seed phrase = lose everything forever
Question for you: What are the most painful problems you encounter in your daily work with cryptocurrencies and DeFi?
Our Idea: KONG Wallet DAMS
We’re developing a decentralized identity management system on Internet Computer that aims to solve these problems:
The Key Innovation
Instead of relying only on seed phrases, we use a 3-of-5 recovery scheme:
- 2 parts stored encrypted in IC
- 3 parts managed by you (locally, in cloud, with a friend)
- Lose 2 out of 5 parts? You can still recover your account!
Simplified Registration
- Login with email, Google, or Telegram (as you’re used to)
- Automatic management of multiple blockchain addresses
- One identity for the entire Web3
The Dilemma We Face
We’re facing a difficult dilemma and want your opinion:
Security vs. Ease of Use
We can make the system maximally secure (self-hosted keys, full user control), but that makes it complex. Or we can simplify it (managed services, fewer steps), but that reduces decentralization.
How would you balance these two aspects? Where would you draw the line?
Specific Questions for the Community
- For developers: Do you see technical problems in our approach? What could go wrong?
- For users: What features would make you try a new Web3 service? What stops you today?
- For the community: What mistakes do new projects make here? How can we avoid them?
- For everyone: Would you participate in beta testing such a system? What would motivate you?
Technical Details (for those interested)
For those who want more technical details:
- Platform: Internet Computer with Rust canisters
- Architecture: Sharded system for scalability
- Security: Verifiable Secret Sharing (VSS) for recovery
- Integration: JWT/JWKS for external services
- Identity: Self-sovereign DID based on IC Principal
The full technical stack includes Saga Pattern for consistency, atomic operations, and idempotency protection.
Where We Are Now
- Beta version in active development (Q2 2025)
- Core libraries are ready
- Testing routing and sharding logic
- Planning integrations with external services
We Need Your Help
This isn’t a promotional post - we’re genuinely seeking feedback from the community before finalizing the architecture.
What do you think is the most important thing we need to get right?
Thank you for your time and we hope for constructive discussion!
P.S. We’ll be sharing regular updates here. If you want to follow progress or participate in beta testing, let us know!