When we say Elysium is "keyless," we mean that our wallet doesn't store or manage private keys in the traditional sense. Instead, Elysium uses a unique approach to handle key management securely:
- No Key Storage: Unlike traditional wallets that store private keys on the device, Elysium generates and uses keys on-demand for each transaction. This means your private keys are never saved or exposed.
- Dynamic Key Creation: Elysium’s system creates a key for each transaction as needed. Once the transaction is completed, the key is discarded. This minimizes the risk of key theft or loss.
- Enhanced Security: By not storing keys, Elysium reduces the risk of your keys being compromised through device theft, hacking, or malware.
- Multi-Factor Authentication: Elysium uses multi-factor authentication (MFA) to ensure secure access to your wallet. This adds layers of security beyond just key management, such as biometric verification or passcodes/words.
In essence, Elysium’s keyless approach simplifies the management of digital assets and enhances security by eliminating the need to store or handle private keys directly.
