Our solution addresses the trade-off between usability and security in wallet creation by leveraging the iPhone as a hardware wallet, a prevalent issue in both retail and institutional wallet solutions like BitGo, Ledger, and Fireblocks. In contrast to popular consumer hardware security modules (HSM) such as Trezor, the iPhone offers a secure enclave and enhanced device security through biometric authentication, enabling users to focus less on managing private keys while maintaining protection for their funds, even in the event of device loss.
We introduce a security-centric, hardware-based iOS wallet app that provides a near-institutional grade experience for individuals at a substantially lower cost, making the iPhone a less operationally burdensome alternative to traditional hardware security modules and significantly reducing operational overhead. Additionally, private keys can be shared across multiple iPhone devices via iCloud Keychain, streamlining the backup process and ensuring seamless access for users.
Firstly, Account Abstraction is a new technology in terms of the latest EIP specification and we did not find many tutorials or sample implementations on ERC 4337 to learn from. Due to our care for security, we also focused only on iOS since a Secure Enclave is not available on most Android devices so there is limited portability to non iOS ecosystem and this goes to our future roadmap.
We researched various competitors regarding their wallet products. The below is a short list of projects we’ve researched. However, we found none of them to be helpful in thinking how we could refine our idea and implementation
Below is the list of some projects we have researched.