DeFi Planet is excited to announce its media partnership with Tezoro, a remarkably innovative non-custodial service designed to eliminate the risk of permanently losing access to stored crypto assets.
Typically, investors secure their tokens in digital wallets using cryptography and private keys, making it difficult for others to access their holdings. However, if the wallet owner loses their access key, the wallet and its contents become permanently inaccessible.
Studies have shown that about 20% of all Bitcoin is lost and irretrievable. Though this may not significantly impact the Bitcoin market, it has severe consequences for individual investors and crypto holders.
Tezoro was launched in May 2023 to proffer a solution to this problem without compromising the privacy and security of crypto assets. The platform operates as a non-custodial service and enables users to back up their assets through a smart contract linked to their MetaMask wallet.
In the event of a user’s death or loss of access, the smart contract automatically transfers the crypto to a backup address specified by the user. Users can manually initiate this process or schedule it for automatic execution.
Tezoro’s approach stands out because of its commitment to user privacy and security. The platform does not require users to provide wallet credentials, ensuring that Tezoro never gains access to their assets. Furthermore, Tezoro operates as an anonymous service and it does not require users to undergo Know Your Customer (KYC) procedures or disclose personal information like credit card details.
The code that powers Tezoro is open-source and officially verified by Etherscan. It is based on mathematically proven concepts that guarantee 100% retrieval success and security of the user’s assets. The smart contract powering the service is unhackable, and not even Tezoro’s team can alter its details after it is deployed.
As an advocate for Web3 and blockchain-powered innovations, DeFi Planet aims to educate the public about various aspects of blockchain technology, including cryptocurrencies, NFTs, Metaverse, and decentralized applications (dApps), and how it can help individuals achieve their aims.
Tezoro’s CEO, Kamil Mamin, expressed excitement about the company’s partnership DeFi Planet, stating, “We’ve noticed DeFi Planet’s specific interest in blockchain projects with real-world utility, and we are thrilled to partner with this growing Web3 media house to advance the growth of both projects.“
Tezoro presents a simple yet effective solution to a significant problem that has hindered the wider adoption of blockchain technology. This partnership between DeFi Planet and Tezoro is driven by the belief in the platform’s potential and the far-reaching impact its products can have on the crypto-asset market.
To learn more about Tezoro, please visit their official website.
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