Kaikas Wallet : In this article, we cover a detailed review of Kaikas Wallet. How does Kaikas Wallet work & Are important features?
About Kaikas
Kaikas is a browser extension wallet for the Klaytn Network. Available in Google Chrome, Kaikas provides a secure and usable means to interact with the Klaytn network via web browser. With Kaikas, you are able to store and transact with your KLAY and Klaytn-based tokens. You are also able to sign requests from web-based dApps (Decentralized Applications) in realtime. Kaikas is a browser extension that provides secure and usable means to interact with Klaytn network from web sites. In particular, it handles account management and connecting the user to the blockchain.
Klaytn Wallet
Klaytn Wallet is a browser-based account management tool for dApp (decentralized application) developers on Klaytn. It helps developers create new accounts or view existing account information directly through a web browser without having to run a Klaytn node locally. Klaytn Wallet also lets users transfer KLAY or Klaytn tokens to other accounts for testing purposes.
Klaytn Safe
In a typical blockchain platform like Klaytn, most users are familiar with single key wallet systems such as Kaikas and MetaMask, which are also known as externally owned accounts (EOA). These accounts make use of traditional key pairs, i.e., public keys and private keys, which isn’t ideal as the private key creates a single point of failure.
This makes EOAs unsuitable for organisational use, as a compromised private key could lead to the organisation losing all of its crypto funds—such was the case in the Wintermute hack where $162.5 million was lost.
This is where multisig wallets like Klaytn Safe come in. Unlike single key wallets, a multi-sig wallet needs multiple parties’ private keys to sign and execute a transaction, removing the single point of failure and providing greater security for organisational use cases.
Klaytn Safe Design
Currently, Klaytn Safe is a collection of tools to create and manage multi-signature wallets, viz:
- Safe React: This is a react web app to create and interact with a multi-sig wallet.
- Safe Transaction Service: This keeps track of transactions sent via safe contracts and listens to events from recent blocks in Cypress and Baobab. Transactions can also be sent to the service to allow off-chain collecting of signatures or to inform the owners about a transaction that is pending to be sent to the blockchain.
- Safe Config Service: This provides configuration information of the Klaytn Safe clients environment, e.g configs of all chain details and APIs.
- Safe Client Gateway: This is a gateway between the Klaytn Safe client and the backend services (transaction service and Klaytn Nodes)
- Safe Infrastructure: This is a cluster setup to deploy the backend services (Safe-Transaction, Safe-Config, Safe-Client gateway).
How is Kaikas Secure
Private key encryption
Users’ private keys are secured by Kaikas using industry-standard encryption; they are never disclosed to the server or any third-party services.
Non-custodial wallet
Since Kaikas is non-custodial, users maintain total control over their money.
Integration with hardware wallets
Kaikas offers integration with hardware wallets like Ledger and Trezor, which increases the security of users’ accounts.
Open-source code
Kaikas is an open-source wallet, which means that anyone may read and examine the code.
Verified DApp integration
Verified DApp integration decreases the danger of fraudulent or malicious applications because Kaikas only supports decentralized applications (DApps) that have been examined and approved by the Kaikas team.
Multi-factor authentication
Kaikas provides alternatives for multi-factor authentication, including Google Authenticator and biometric verification adds an additional layer of security to user accounts.
Kaikas Conclusion
In summary, Kaikas is a trustworthy and straightforward wallet for handling Ethereum-based assets. It is a safe choice for consumers who want complete control over their cash due to its non-custodial nature, integration with hardware wallets, and multi-factor authentication methods. Additionally, it offers users a practical and adaptable platform for accessing a selection of cryptocurrencies and decentralized applications thanks to its support for numerous chains and integrated DApp browser. In conclusion, Kaikas is a fantastic option for anyone searching for a trustworthy, user-friendly, and secure Ethereum wallet.
