We have replaced the traditional private key with two shares that are used to sign transactions.
The technology powering Kryptonio's wallet is threshold signatures. With threshold signatures, multiple parties must cooperate to initiate a crypto transaction. The Kryptonio wallet uses a two-of-two signature system, always requiring two “shares” to sign any transaction.
Using a distributed key generation and signing protocol, one share is stored on the user’s mobile phone and the other on our server. Both shares are always required to sign transactions, so even if something happens to one of them, your digital assets are always safe.
If the user loses their device, deletes our wallet, or wants to install the wallet on a new device, the user can recover their share using facial recognition technology. With a simple face scan, we match the 3D FaceMap created during the registration process and restore the wallet on the user's device.