The problem SecuredWal solves

Problems Solved by SecuredWal

1. Single Point of Failure

• Traditional single-signature wallets are vulnerable to a single point of failure, where if the private key is compromised, the entire wallet is at risk.

2. Lack of MultiSig Support

• Many existing solutions do not easily support MultiSig capabilities, limiting the ability of users to secure transactions with multiple authorizations.

3. Complexity of MultiSig Wallets

• Setting up and managing MultiSig wallets can be complex and daunting for users, especially those unfamiliar with blockchain technology.

4. Insufficient Integration with Web3 Wallets

• Integrating MultiSig functionality with popular web3 wallets like MetaMask often requires technical expertise, creating barriers for non-technical users.

5. Limited Security in Web3 Transactions

• Without MultiSig, web3 transactions may lack an additional layer of security, making them more vulnerable to unauthorized access.

6. Difficulty in Account Recovery

• Traditional wallets without MultiSig functionality may have limited options for account recovery, increasing the risk of permanent loss if access is lost.

7. Inconvenience of Managing Multiple Accounts

• Users often struggle with managing multiple accounts across different platforms, leading to inconvenience and potential security risks.

8. Lack of Control over Transactions

• Single-signature wallets give limited control over the authorization process, which may not be sufficient for users needing higher security and oversight.

Challenges I ran into

Technology Challenges Faced During Development

1. Concurrency Issues with Safe SDK

• Integrating Safe SDK for managing MultiSig transactions led to unexpected concurrency issues when handling simultaneous transactions. This required implementing custom synchronization mechanisms to ensure that transaction states remained consistent across all users.

2. Transaction State Management

• Managing transaction states across multiple signers and ensuring that the correct state was maintained in real-time proved to be complex. Implementing a state management system that work