The Intu infrastructure platform seeks to enable web3 users to protect their digital asset account as a crypto wallet with minimal cost.
Intu users will be protected by local cryptography and native decentralization of their chosen blockchain, according to a . Intu platform co-founder James Bourque said CryptoSlate:
Accounts created with Intu still have a public address like normal accounts, are non-custodial and decentralized like normal accounts, and work on most EVM-based chains, but increase user confidence knowing they can recover Lost accounts independently, proactively protect them, and never have to rely on a third-party company, network, or token.
According to the co-founder, Intu accounts don’t have a single private key to lose or expose, as it allows ownership to be spread across multiple devices or wallets, which can be changed, replaced or revoked in the event of a compromise.
As part of Intu’s web3 native encryption initiative, the platform enables end-to-end encryption without the need for additional passwords, keys or data.
As reported, web3 projects can integrate Intu into their dApps to provide users with ‘no strings attached’ asset ownership. The platform It would reportedly allow anyone to securely share and retrieve web3 accounts.
Intu claims that currently the only alternative to traditional web3 wallets are complex MPC solutions or smart contract wallets that are centralized and incompatible with some dApps.
Market uncertainty has devastated the crypto ecosystem and caused a decline in venture capital investments last year. Despite this, infrastructure companies the most funding among all other sectors in the crypto space, in December 2022, at around 22%.