We think so.
Hardware devices like Ledger and Trezor, are widely used by people who are uncomfortable with both external third-party custody and online, on-device self-custody wallets. Multi-signature (multi-sig) wallets, which an m-of-n quorum of keys to execute a transaction, have proven robust enough to be used by most exchanges.
But in both cases, vulnerabilities have been exposed. And to a large extent those risks come down to one single fact: they use a private key.
Multi-sig models offer protections across such attacks, because they require simultaneous control of more than one key held in separate locations, but the fact is that multi-sig wallets have also failed because of both technical and human vulnerabilities. Also, the blockchain needs a way to encode multi-sig, which might harm privacy because the access structure is exposed on the blockchain. The cost of a multi-sig transaction is higher because the information on the different signers also needs to be communicated on the blockchain.
With Kryptonio uses threshold signature (TSS) and we have eliminated the private key flaw in blockchains. There is no private key, there is nothing to remember and nothing to steal.
In TSS, the signers’ details are folded into a regular looking transaction, reducing cost and maintaining privacy. The different keys never meet each other, the Threshold Signatures vault is indistinguishable from a regular vault and hence universal, and it has the same privacy and cost (fees) as a regular vault.