Argent Wallet Ready To Launch Its Product After $4 Million Investment
Argent, an Ethereum-based cryptocurrency wallet provider will be launching its offering this week after receiving $4 million in investment some months ago. The information was released by Diar in a recently published report. The main intention behind this wallet is to make it easier to recover a wallet without having to use the 12-word seed.
According to Argent, the intention is to streamline the whole recovery process. Users will have the possibility to trust “Guardians” that would be able to assist them in case they cannot have access to their wallets.
The company wrote about it:
“We founded Argent to radically simplify how you access the decentralized web. We started by tackling the problems with holding and using cryptocurrencies. One problem is particularly significant: the fact you have to risk everything on a piece of paper with 24 words on it – your seed.”
According to the firm, this does not make sense if the crypto space wants to build the next era of digital life.
The company explains that they have shaped their experience by dealing with banks. Clearly, they might not be the best solution in many different aspects, but if users lose their cards, they still have access to their account.
Thus, with Argent Guardians it is possible to use people or devices that users’ trust to have limited permissions that would help them perform specific tasks. One of these permissions is related to approve a recovery. According to the firm, it is very easy to set this up and it can be performed through their platform.
Coinbase has also offered users the possibility to back up their seed phrase on platforms such as Google Drive and iCloud, allowing them to have access to their wallets at all times. Nevertheless, these solutions require users to provide some level of trust to other devices or individuals.
Users can have as many Guardians as desired. They can be people, devices or third party services.
It will be important to follow the evolution of this application in the market and what other wallet creators and platforms do in order to simplify the account recovery process.