RareWeave Introduces Arweave Subaccounts Protocol
RareWeave, the new trailblazer in the Arweave ecosystem has announced its latest offering, the Arweave Subaccounts Protocol. Designed to revolutionise the way user keys are managed, the protocol is both flexible and secure, and does away with wallet pop-ups.
Let's take a closer look!
Arweave Subaccounts Protocol
The Subaccounts Protocol for Arweave enables users to establish and control sub-wallets (or subaccounts) linked to a master wallet. The relationship between each sub-wallet and the master wallet is completely verifiable. And the advent of this protocol holds promising implications for dApps built on Arweave.
Not only can dApps now have autonomous control over their wallets, but they can also achieve this without the need for user approval for individual actions, while also maintaining complete isolation from the main account, offering an improved user experience (UX) and a high degree of security. Nik Rykov, CTO and co-founder of RareWeave (aka mouse), had this to say:
Subaccounts is novel way for permaweb apps to handle key management. Up to this day every action should have been reviewed and signed by main user's wallet. It created "popup per click" UX problem. Subaccounts solves this problem by deriving key to app that app can fully manage, and so have more flexibility, security and usage convenience. Subaccounts is natural evolution of key management systems - mouse
Understanding the Basic Concept
The Protocol uses an ingenious method to create the Subaccounts, without the need for any additional data - it simply utilises what is already there.
Fundamentally, each subaccount is a new and unique Arweave wallet, where the private key of each sub-wallet is encrypted using the master wallet's public key. This arrangement ensures that only the owner of the private key of the master wallet can decrypt the private key of the sub-wallet. Following this, the encrypted private key of the sub-wallet is securely stored on the Arweave network.
To add an extra layer of verification, the sub-wallet signs a signature on-chain to verify its connection with the master wallet. This signature can be confirmed using the sub-wallet's public key, providing incontrovertible proof that the true owner of the sub-wallet's private key is claiming association with the master wallet.
Check out the full docs here.
RareWeave: New Entrants with Impressive Strength
While RareWeave may be the new kids on the block in the Arweave space, their innovative offerings and forward-thinking solutions are making them a formidable force to reckon with.
If you missed RareWeave's grand entry into the ecosystem, check out our article here: RareWeave - The New Arweave native NFT marketplace.