Today we are talking about 👇
Turnkey
Are you interested to co-write more broader and long form reports with me? If yes, please do feel free to reach out on Twitter
What is Turnkey building?
Building simple APIs to manage your private keys securely
Security-first driven service with the idea of:
Generating and managing private keys across blockchains
Conducting transactions and wallet creations at scale
How does Turnkey do it?
They've got three core features:
Scalable wallets
Fully flexible signing
Intuitive security controls
Let's understand a bit about each of them 👇
→ Scalable wallets
Create thousands of wallets on-demand with a simple API call.
→ Fully flexible signing
Sign any transaction, enabling you to build even the most complex crypto products
→ Intuitive security controls
Keep your assets protected with fine-grained policies and approval workflows.
Core advantages
Cloud scale
It offers simple APIs that enable users to generate multiple wallets and sign transactions across any blockchain.
The APIs are flexible and programmable, allowing users to set permissions that ensure only desired transactions are signed.
This makes it easy to manage large amounts of cryptocurrency across multiple chains.
Accessibility
It is free to get started, and users can begin building in minutes with open APIs and SDKs that make it easy to integrate Turnkey's solution into their existing systems.
This makes it easy for anyone to get started with cryptocurrency management, regardless of their technical expertise.
Security
It was built on a minimal, immutable, and deterministic operating system that is designed to provide maximum security.
Users have complete control over their keys, which ensures that their cryptocurrency is protected at all times.
Additionally, the solution provides institutional-grade security, making it suitable for use in high-security environments where accountability is essential.
What are the core key security features being addressed?
Industry-leading key storage
Turnkey provides advanced architecture for private key security, drawing from years of experience securing hundreds of billions in crypto.
The solution leverages secure, isolated environments and immutable, verifiable data stores to ensure users have full control over their keys.
Passwordless authentication
To ensure the highest level of security, Turnkey has eliminated the use of passwords.
Instead, it offers hardware-based WebAuthn authentication that makes user accounts virtually unphishable.
Customizable policy engine
Turnkey's policy engine offers fine-grained controls for how users can access private keys.
All actions on a user's account are checked against custom policies and approval workflows, leaving an audit trail that ensures accountability.
The APIs can help with the following:
Wallet creations for thousands of users
Automating your most complex DeFi strategies
Easily minting, storing, and managing NFTs in your app
Investors & Supporters
They recently raised a $7.5M Seed round led by @Sequoia, with participation from @Variantfund & @Cbventures
Docs & References
The private beta is live now!
Demo Video: https://loom.com/share/5117ab93a7194eaf9158266336491709… -
Github: https://github.com/tkhq
Closing thoughts
The team at Turnkey are doing some exciting work and am looking forward to joining the private beta and learning more about the product.
Website: https://www.turnkey.io/
Twitter: https://twitter.com/turnkeyhq
Sign up for the private beta: https://www.turnkey.io/waitlist.html