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January 15, 2024

Portkey Allows Direct Token Transfers within Chats, Group Management Made Easier with Pinned Messages

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Dear Portkey community members,

Portkey is excited to announce the release of V1.4.15, featuring significant enhancements such as direct token transfers within chats, improved group chat functionality, and heightened account security with the optimised rules for guardian and verifier addition/update. Additionally, minor changes have been implemented to enhance user experience in setting or modifying transfer limits and bolster security as well as decentralisation by mitigating verifier’s single points of failure.

Making Direct Token Transfers within Chats

The token transfer function is now seamlessly integrated into chats for your convenience. Whether you are engaged in a one-to-one conversation with a friend or communicating with a group, you can easily initiate a transfer without leaving the chat window. Unlike crypto boxes, which require manual claiming by the recipient, asset transfers are automatically credited to the recipient’s address.

To access transfers within chats, click the paper clip icon at the bottom left corner, and select “Transfer.” If you are transferring within a group chat, you’ll need to select the recipient. Then, simply choose the asset and enter the amount before confirming the transaction.

After a transfer is made, it will appear as a message in the chat window as a notification to the recipient. Clicking on the notification will reveal the transfer details.

Replying to or Pinning Messages in Group Chats

In the latest Portkey update, the user experience in group chats is enhanced with the introduction of reply and pinned message features. Every member in a group now has the ability to long-press or right-click on a message and respond directly to that specific message. Group owner also possesses the authority to pin any message within the group. Pinned messages remain prominently displayed at the top of the chat window, providing everyone with quick access for reference. This feature facilitates admins in disseminating announcements or notifying the community about upcoming events effortlessly.

Enhancing Account Security

Guardians serve as protectors for your Portkey wallet and can be social accounts/credentials of your choice. Currently supported guardian types include phone numbers, email addresses, Google accounts, and Apple IDs. Verifiers, on the other hand, are external verification service providers responsible for verifying data with guardians. They are the crucial roles in Portkey’s social recovery mechanism that safeguards user accounts and assets.

To uphold security and avoid single points of failure, Portkey mandates that the same guardian account or verifier cannot be reused. This ensures that a phone number, email, or social account serves as a unique guardian for any given Portkey account, and each guardian must have a different verifier. Portkey recommends a minimum of two guardians for enhanced security. You can easily add more guardians or edit existing guardians to change the verifiers in Portkey through the “Guardians” section.

With the newly introduced transfer within chats feature and enhanced group chat functionalities, Portkey opens up additional possibilities and elevates user-friendliness. Furthermore, the improved rules for guardians and verifiers mitigate potential risks, fortifying account security. Experience a new level of convenience and security now!

Update/Download

If you already have the latest version installed on your device, the above features will be automatically updated in the Portkey App/extension with no need for manual operation. However, if you haven’t downloaded Portkey or the App/extension requires an update, please use the link below to download/update: iOS

Android

Chrome extension

If you encounter trouble updating it, please email the team at support@portkey.finance or get in touch via:

Discord: https://discord.gg/EUBq3rHQhr

Telegram: https://t.me/Portkey_Official_Group

Portkey values your opinions and wishes to hear from you so that we can continually improve our product. Hence, we would appreciate it if you could take just 2 mins for this questionnaire after you try the product: https://forms.gle/CqzdzCcKGE4fo3oe6.

Hope you enjoy Portkey and have the best Web3 experience with us!

🐦 Twitter | 🎮 Discord | 💬 Telegram | 🏠 Website | 💻 Youtube

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Portkey
WalletWhy It Stands OutSupported Assets
Coinbase- Publicly-listed on the Nasdaq stock exchange- Holds your assets in a 1:1 ratio and does not repurpose them200+ cryptocurrencies, including BTC, ETH, XRP, and SOL
OKX- Supports 300+ cryptocurrencies and NFTs across multiple networks- Available as a mobile or desktop app, and browser extensionBTC, ETH, XRP, SOL, and 300+ more cryptocurrencies, along with NFTs on Ethereum, Solana, BASE, and more
Crypto.com App- Rewarding if you hold and build a cryptocurrency portfolio over time- Nifty features like Crypto Earn and Recurring Buy help you grow your holding easilyMore than 350 cryptocurrencies, including BTC, ETH, XRP, and SOL
Trust Wallet- Very wide range of assets- Available as a mobile app and browser extensionOver 10 million cryptocurrencies and 600 million NFTs from Bitcoin, Ethereum, Solana, Cosmos, and more
MetaMask- Can be used to complement your main Web3 wallet- Perfect for ownership of Ethereum-based tokens and NFTsAny asset on the Ethereum blockchain
Exodus- Over 100,000 cryptocurrencies supported- Buy any of them within the Exodus walletMore than 100,000 cryptocurrencies and NFTs across 16 blockchains
Ledger Stax- 5,500+ cryptocurrencies and NFTs supported- Certified Secure Element chip to shield it from online attacks5,500+ cryptocurrencies and NFTs
Trezor Safe 5- A compact device at 23g with a 1.54-inch touchscreen- Supports over 1,000 cryptocurrencies, and has a CC EAL6+-certified chipOver 1,000 cryptocurrencies, including BTC, ETH, XRP, and SOL
SafePal S1 Pro- Slim and sleek, with a 1.3-inch colour screen to show your holdings- Can be paired with the SafePal Wallet app and browser extension to grow your portfolio30,000 cryptocurrencies and more across 100+ blockchains
ZKPsMultisig WalletsTEE
StrengthsZKPs provide wallet owners with security and privacy at one goMultisig wallets are hassle-free and secure; easy to implement for any group or organisationTEEs allow Web3 wallets to achieve a similar level of security as hardware wallets
WeaknessesTransacting parties need to interact multiple times. It’s not ideal for non-real-time applications.Transaction costs are higher due to the multiple signatures – and gas fees – needed. Transaction speeds are lower too.Cannot be easily implemented for software-based Web3 wallets as it is operating system-dependent
Wallet TypeHardware WalletBrowser ExtensionMobile App Wallet
Pros- Offers the best security for Web3 digital assets- Many brands and models to choose from- You can conveniently add it to your web browser- It doesn’t take up much storage space on your PC- You can access your assets from anywhere- You can easily transfer assets between apps
Cons- You risk losing your assets when you lose the device- The cost can be prohibitive for some- Susceptible to security breaches if your browser is compromised- Functionality may be limited for some- Vulnerable to similar security breaches as browser extension wallets- You also bear the same risk of losing your assets if you lose your mobile device
Web2 PhishingWeb3 Phishing
MethodPurely reliant on offline or Web2 platforms. For example, phone calls, SMSes, publishing fake websites, etc.Utilises a mix of Web2 and Web3 platforms. For example, hackers impersonating a key opinion leader or deploying malicious smart contracts.
PurposeTo steal cash, personal information, and sensitive data.To steal digital assets and sensitive data, and control Web3 projects.
ProsCons
MPC wallets are incredibly safe thanks to their novel security mechanism.There are relatively fewer MPC wallet solutions available, as compared to multisig wallets.
MPC wallets provide you with more flexibility in managing your assets, especially if it’s a wallet for institutions or investment groups.MPC wallets appear easy to use on the outset, but they still require a level of technical expertise and cryptography knowledge.
MPC wallets greatly reduce the risk of a single point of failure.MPC wallets can take slightly longer to execute transactions because its security mechanism is fairly resource-intensive.
MPC wallets are highly decentralised, adhering to cryptocurrency’s core principles.You’d still need to manage each private key fragment carefully. After all, each one is crucial to forming the full key.