Pantera partners interpret Dynamic: Unified multi-chain wallet authentication

Driven by the rapid popularity of DeFi and NFTs, the decentralized application (dApp) ecosystem has grown rapidly in the past few years, because dApps interact directly with smart contracts on the blockchain, so crypto wallets are often used to verify the operations in these dApps, and wallets are becoming an on-chain identity symbol, users can not only log in to the dApp through the wallet, but also interact with Web2 applications such as Instagram and Twitter through the Web3 social network. Or to verify asset ownership and gain access to some content, among other things. Wallets are becoming the “ID card” of the Web3 world.

The importance of wallets in the Web3 ecosystem makes the track one of the most crowded, with the most famous competitors including Metamask, Trust Wallet, Phantom and Coinbase Wallet. Since each blockchain may use a different elliptic curve, different blockchains often require different wallets to establish identities and interact, which further increases the market demand for wallet applications. At present, the mainstream wallet applications are divided into several categories, namely browser plugins, browsers (such as Brave and Opera, etc., with built-in wallet functions), smart contracts, mobile applications and desktop wallets.

However, the problem arises, the large number of wallets causes dApp developers to spend a lot of effort on supporting different kinds of wallet login, and developers must integrate as many mainstream wallets as possible to attract more traffic and provide convenience to users. For early-stage start-up teams, the impact of this consumption of time and energy on the development of core products cannot be ignored.

Dynamic solves this problem by providing a simple authentication SDK and toolkit that allows app and dApp developers to more easily integrate multiple wallets across chains and be able to quickly enable wallet-based identity features like NFT gating.

What Dynamic is

Dynamic is a suite of wallet-based authentication and authorization tools. It allows developers to create a unified multi-chain wallet authentication flow that is “future-proof”.

Dynamic’s toolkit consists of three main components: an SDK, a developer dashboard, and a set of APIs that allow customization. Once developers embed the Dynamic Wallet SDK into their website or app, they can access the Dynamic dashboard to configure it.

Pantera partners interpret Dynamic: Unified multi-chain wallet authentication

Dynamic provides dashboards that allow developers to configure enabled blockchains, capture user information during registration, create whitelists for closed beta and NFT distribution, and many other identity-related features. Authentication-based orchestration on Dynamic requires no touch of code.

In the case of Popartcats.xyz, the app used authentication and NFT gating to create restricted access deliveries of information for its customers, while Llama used Dynamic to create a members-only identity system for its website.

Pantera partners interpret Dynamic: Unified multi-chain wallet authentication

Dynamic developer dashboard

The combination of SDK and no-code dashboard allows developers to not only have a unified multi-chain wallet integration framework, but also to simplify the user management and registration process, and the SDK can directly interact with the code of the dApp frontend itself.

Thanks to the SDK dashboard structure, developers can get started more quickly as new features become available. Dynamic’s new multi-wallet feature allows end users to combine multiple wallets in a dApp into a single user identity in that dApp. Using dashboards, developers can “turn on” the feature in their Dynamic implementations without having to redeploy the integration.

team

Dynamic was created by Itai Turbahn and Yoni Goldberg, two Israelis who met at MIT 15 years ago. Itai previously spent 7 years in product management and was a consultant at the Boston Consulting Group. He holds an MBA from Harvard Business School and a B.A. in Electrical Engineering and Computer Science and Economics from the Massachusetts Institute of Technology. Yoni is vice president of engineering at companies such as AQR and Even Financial, and was previously head of technology at Gilt Groupe. He previously worked in research at Google and holds a bachelor’s degree in computer science and a master’s degree in engineering from MIT.

brief summary

Dynamic closed a $7.5 million funding round led by a16z and has begun working with alpha customers such as Llama, Popartcats, Handstamp, Newton, ProofOfMerge, and others to build its first release. This version is currently in closed beta and a public beta version is planned soon.

The problems that Dynamic solves are often overlooked by the market, but this pain point is rapidly magnified as crypto wallet infrastructure rapidly evolves and websites and apps become more complex in how they interact with wallets and manage users. As more and more teams become aware of this problem, everything Dynamic does is becoming critical.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/pantera-partners-interpret-dynamic-unified-multi-chain-wallet-authentication/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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