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ChainFront, an API-as-a-service company that removes the complexity of the use, creation and management of blockchain portfolios while maintaining enterprise-level security, today announced the launch of its public API and a developer portal self service.
Led by a former leading architect in Oracle and a serial entrepreneur with more successful releases, the vision of ChainFront is to allow the adoption of mass blockchain introduced by a higher level of security and usability for the next wave of cryptographic applications.
After working on a series of blockchain implementations, founders Alan Warms and Darryl Anderson began to believe that tokenization would quickly change our economy and that one of the biggest obstacles to the widespread adoption of blockchain was the experience dell & # 39; user.
The use of private and public keys to perform transactions is inherent to all tokenization applications. These new applications are based on cumbersome "wallets" that present significant user experiences and security issues in the storage of private keys and in the execution of transactions. In order for the blockchain to become mainstream, the experience must be simple and secure for the end user. Likewise, the management of public and private keys must be completely invisible to the end user.
"We looked around the blockchain ecosystem and saw that, in order to drive traditional adoption so that users interact with blockchain assets significantly, the simplicity and overall experience needed to improve Not surprisingly, nobody wants to run their own "bank" or their own security – at the heart of the problem is what we call the "portfolio" problem. "
With their public launch today, anyone who creates applications that interact with blockchain data and resources can solve the "portfolio problem" by easily implementing ChainFront's API-as-a-Service. End users, whether they are consumers or within companies, can simply perform transactions with username, password and multi-factor authentication. Developers interested in their solution can visit developers.chainfront.io and start testing their APIs.
One of the most successful blockchain companies is CoinBase – and its success can be attributed directly to simplicity and abstraction. CoinBase made the process of buying and storing cryptographic resources as simple as sending someone a few dollars on Venmo. ChainFront's API-as-a-service allows developers to create similar experiences for their customers, completely eliminating the need for them to manage the complexities of a portfolio to interact with blockchain assets, making secure blockchain interactions and free from stress.
Wallets allow end users to store private keys and execute transactions. However, if a user loses his or her wallet on a device (on a mobile device or browser) through a hack, a theft, a device loss or an update and fails to back up his private keys, their ability to perform transactions and access to their cryptocurrency is over forever.
With ChainFront, backup keys and the need to track a device portfolio are completely removed from the equation and developers can create simple and secure user experiences. Private keys are created within the protected area and are never transmitted elsewhere. ChainFront uses HashiCorp vault, secret key management and a data protection tool with support for code loading and a virtual hardware security module. The service is implemented in the private subnets of Amazon Web Services (AWS), unreachable via the public Internet, using the AWS security model. AWS also offers multi-regional backup and redundancy. FIPS 140-2 compliance is available. This security model offers confidentiality, integrity, availability, responsibility and authentication.
"Prior to Coinbase, previous attempts at centralized private key management have been poorly implemented, resulting in many of the exchange hacks that have dominated the press over the course of Bitcoin's history, such as Mount Gox." Coinbase that portfolio deletion can drive mass adoption and at the same time demonstrate that centralized and secure key management can be performed ChainFront brings this capacity to any blockchain project on public or private blockchains. Self-service is available live on Stellar today and Ethereum, Ripple and Bitcoin and other various authorized blockchains on arrival.
