Com2uS Platform "Virtual Asset Wallet 'X-PLANET', Achieving Both Convenience and Security"

Interview with Lee Hwanhee, Head of Web3 Development at Com2uS Platform

Com2uS Platform Completes Patent Registration for 'X-PLANET Wallet'

Existing Blockchain Wallets Have Issues with Convenience and Security

"Solved with IdP Service and Dual-Key Encryption"

Lee Hwanhee, Head of Development at Com2uS Platform / Photo= Com2uS Platform

Com2uS Platform, a subsidiary of Com2uS Holdings, has developed its blockchain wallet 'X-PLANET Wallet' to address issues related to convenience and security in blockchain wallets and has completed patent registration for it.

Lee Hwanhee, Head of Web3 Development at Com2uS Platform (pictured), introduced the X-PLANET Wallet in an interview with Bloomingbit on the 27th, stating, "Creating user-friendly blockchain services is the goal of Com2uS Platform."

On the 3rd, Com2uS Platform announced that it had completed domestic patent registration for 'Method for Providing Decentralized Wallet Service, Device for Performing the Same, and Computer Program'. The patent focuses on ▲Web IdP (Identity Provider) service login that requires no separate program installation ▲Encryption and decryption of mnemonic and private keys using passwords ▲A completely decentralized service that does not store passwords on the server.

The development team leader stated, "Existing blockchain wallet services required the inconvenience of installing programs on each device and conducting mnemonic (randomly generated 12 or 24 recovery words) authentication," adding, "The X-PLANET Wallet is a web-based blockchain wallet service that requires no installation. It can be used easily anywhere just like using a website."

The IdP service, which supports login through accounts like Google and Facebook, was also introduced. The development team leader said, "It allows for easier creation and login of wallet accounts," adding, "Even if the device changes later, the wallet can be used through IdP service login without any separate process."

The security issues that existing blockchain wallets had were resolved through dual-key encryption and decentralization of data. The development team leader explained, "Most blockchain wallets store mnemonic data required for account recovery as local files on the computer. There is a possibility that someone could hack the computer, steal the files, and take the assets in the wallet," adding, "Additionally, centralized management methods like storing user account passwords on the server also act as factors that undermine the security of the wallet."

He stated, "The X-PLANET Wallet converts mnemonic data into encrypted files and then stores them on the server. When encrypted mnemonic data is requested from the web, the server sends it back to the web," adding, "In this process, the mnemonic data is transferred in a state where dual-key encryption is applied. Even if someone intercepts the data in the middle, it is impossible to decrypt it."

Furthermore, "The X-PLANET Wallet does not store the password required for wallet login in any form. No one except the user can know the password," he emphasized, "This is a differentiating factor from existing centralized blockchain wallet services that manage sensitive data like passwords through the server."

Finally, the development team leader conveyed, "All of this is to make it easier and safer for users to use our blockchain services," adding, "We hope that the X-PLANET Wallet can contribute to activating the ecosystem by increasing the transaction volume of the XPLA Mainnet."