Hello there! 👋
Glad to have you as a part of the Safient family. Welcome to our newsletter. At Safient we prioritize community growth through product growth, making us a reliable and trustless protocol. Our ecosystem offers every individual the opportunity to be a contributor by simply joining our community, tap on the discord server link https://discord.safient.io to join us today!
We are going to make the next 6-8 minutes worth your while by covering topics centered around trending topics in the crypto space, as well as educating you through the “self-custody gyaan” section.
If you loved the newsletter, message us! If you hated the newsletter, message us! We're always looking for a fresh perspective on things to cover and feedback to make your experience better!
- Team Safient.
What we're covering this week:
- Ethereum mainstream hackathon events visit India!🇮🇳
- Multi-Signature Wallet explained. 🔐
- Updates from Safient.💥
A WEEK IN CRYPTO
Ethereum Mainstream Hackathon Events Visit India!🇮🇳
The week of November 28 to December 4 is about to be a historic and event packed week for the Indian community in the crypto space as there would be loads of events happening!
In this week’s newsletter, we have decided to have a chat about some of the major events happening during this week.
This is a hackathon event happening in Bengaluru being hosted by StarkNet India, it promises to be the biggest community event in the StarkNet ecosystem. StarkNet CC India is a 30-hour offline hackathon organized by the StarkNet Indian community to foster and promote the Ethereum Layer2 and StarkNet ecosystem.
StarkNet CC India will get all the creative and innovative minds across the globe together to build the best L2 native Dapps for a decentralized modular Web3 future using the power of Cairo (the native Smart Contract language of StarkNet)
You can read more abou this here: https://starknetccindia.com/
FILBangalore is an event organized by Huddle01 that aims to bring together developers, ecosystem partners, clients, and thought leaders from around the globe under one roof to collaborate and create.
There will be insightful talks from top-notch speakers, interesting panel discussions, and an opportunity for attendees to take part in interactive workshops and tracks with fellow web3 co-builders who are fascinated by the decentralized storage space.
You can read more about this here: https://fil-bangalore.io
This happens to be Asia’s biggest Ethereum hackathon event scheduled to happen in Bengaluru, India. Eth India is a movement with the goal of inspiring and fostering a community of builders promoting technological advancements for Ethereum. It is a place where the leading minds in the Ethereum ecosystem are uniting with 1500+ builders from around the globe to build decentralized applications for the future. The goal of this event happens to be an open invitation to all builders who believe in self-sovereignty, where everyone is an owner, where hierarchies don’t exist.
You can read more about this here: https://ethindia.co
Our previous newsletter focused on cold and hot wallets, but we at this time want to focus on another type of wallet, the Multi-Signature Wallet. We would explain in detail and simplicity what Multi-Signature wallets are, and their relationship with self-custody.
Multi-Signature wallets require approvals from multiple user accounts to broadcast a transaction. They mandate two or more private keys to sign and send a transaction. The storage method presses for multiple cryptographic signatures to perform transactions for the wallet.
Imagine a bank vault that requires more than one key to open, there you have a multi-signature wallet.
Realistically, multi-signature wallets provide an extra layer of protection for crypto holders, but they are not without risks as they are way too technical for a common user. Although they may seem like a good solution for recovery, they pose the challenge of being blockchain dependent and are not so flexible to implement in the ever-evolving crypto space.
When dealing with self-custody, backups, security, and convenience remain core issues. When you self-custody your crypto, you are responsible for keeping your private keys safe and secure, and this implies that appropriate measures must be taken to ensure that your keys are not lost or stolen, and also a backup mechanism is being implemented in case of unprecedented events.
Moreover, it is highly never advisable to back up your private keys to a google drive, a computer, cloud or an online application as hacks and cyber-attacks remain a core problem to deal with.
Also writing down your private keys might just be a way to safely keep your keys secured but the bottom line remains that all possible means of keeping your private keys safe are susceptible to unparalleled events.
Tragic events happen at times we do not expect and with self-custody in question, there is a high need for a robust, secured, and more convenient way of storing digital assets without having to bother about issues such as inheritance and recovery.
As noted earlier, self-custody is one of the most desired features of crypto assets. The underlying issue remains that crypto users do not want to be entirely responsible for preserving their assets against attacks and making sure that they are inherited at the right time. A research survey conducted shows that only 48 percent of people have a recovery plan and only 22 percent have created an inheritance plan for their crypto assets. This is a much more convincing reason to venture into a solution that would tackle the problem of crypto recovery and inheritance.
SAFIENT WEEKLY INSIDE
Let us update you on what we are up to at Safient this week.
Safient Voucher public beta launch:
Safient Voucher went public last week with the release of the beta version graduating from our internal alpha version. Check this announcement tweet and join our Discord to know more. LFG 🚀
We at Safient are super excited to announce the release of the beta version of Safient Voucher graduating from our internal alpha version. 🥳🚀
Use this link to get started now: voucher.safient.io
— Safient Protocol (@safientio)
Nov 21, 2022
Our community Twitter space:
We talked about the state of wallets and the future, this week on our Twitter space. Check it out if you missed it 🤝
Let's discuss gifting and giveaways in crypto and much more!
Join us today at 9 PM IST, 3:30 PM UK TIME.
See you soon! ✌️
— Safient Protocol (@safientio)
Nov 17, 2022
Safient at ETH India and in India blockchain week.
Our team will be at ETH India, StarkNet CC, FILBangalore, and a few other events this week. Say hi if you bump into us :)
Have a lovely week y'all. Cheers!