FAQs

General

How to contact Big Wallet

You can email us at info@bigwallet.jp to get in touch with the big wallet Team.
How much does Big Wallet cost?

Big Wallet offers a free Basic Plan. For more advanced needs, we have a tiered pricing model. Find out more by sending an email to info@bigwallet.jp . 。

Why should I use Big Wallet?

Big Wallet is the best option for private key security management using Multi-Party Computation (MPC) technology and transaction/approval workflows to eliminate single points of failure for private keys.

How long does it take to get started with Big Wallet

Download the app and start using it right away. No more going through the tedious process of trial registration. You can register your organization and start using Big Wallet in less than 5 minutes.

Who does Big Wallet serve?

Centralized financial systems, over-the-counter trading, brokerage firms, exchanges, cryptocurrency funds, and the Web3 initiative are just a few of the many types of customers Big Wallet serves.

What is a Private Key Shard?

Generally, private key sharding is the process of dividing a single complete private key into several parts, each of which is a private key shard. This overcomes the concern of asset loss due to the loss or theft of an entire private key by a large extent. big wallet private key sharding involves using the MPC algorithm to generate key shards before constructing a wallet, and then using the MPC algorithm to compute the signature when transacting. In contrast to generic private key sharding, the MPC algorithm generates multiple key shards and the original private key never appears during the entire process, resulting in enhanced security.

Which tokens are supported by Big Wallet?

Big Wallet supports 11 native coins and hundreds of tokens including BTC and ETH. Our Web3 wallet is compatible with all EVM chains and non-EVM chains such as Solana and NEAR that will be available soon. more

What distinguishes Big Wallet from a MultiSig contract?

Big Wallet's MPC signature algorithm implements ECDSA, EdDSA, and BLS signature algorithms, covering over 99% of public blockchains. However, the MultiSig contract is limited to his specific EVM chain, resulting in higher gas prices. Big Wallet MPC MultiSig, on the other hand, is cheaper than a typical MultiSig contract, yet more secure and effective.

Is there a role with the highest permission in multi-people management?

Once the wallet is initialized, admins have the same permission that multiple people will jointly make important decisions in the manner of threshold signature set in the management mode.

What is MPC and why should I use it?

Secure Multi-Party Computation, or MPC for short, is also known as SMPC. Learn more about it on our MPC 101 . MPC ensures that you can use it while remaining invisible throughout the entire process, from private key generation to usage and storage. big wallet utilizes MPC to transform a single private key into distributed private key shards, effectively eliminating the risk of a single point of failure of a private key, while allowing multiple individuals on a team to co-manage assets.

What is TEE and why should I use it?

Intel SGX Trusting Execution Technology . Sensitive data is secured by TEE with hardware isolation, which protects it from external attacks and sniffing attempts. big wallet uses TEE to store users' data, transaction policies as well as other sensitive and important information. This help ensures the security of users' data on the hardware.

Security

What is Big Wallet's security model?

When using MPC to generate private key fragments, the original private key is hidden from generation until transaction signing. All private key shards are stored and used in the TEE, so even if a hacker takes over your server, they won't be able to access your data inappropriately. In addition, Big Wallet's unique offline public-private key exchange mechanism prevents man-in-the-middle attacks on the generation and transmission of private key fragments.
How can I be sure my assets are safe if my email is compromised?

Big Wallet offers enterprise-level security. If you log in using a new/unusual device, you will not be able to access your wallet data and this device will need to be verified by the team creator. This means that even if a user's email account is compromised, hackers will not be able to access the funds. And you can't steal funds.
Are Big Wallet MPC wallets more secure than hardware wallets?

Hardware wallets have risks associated with a single point of failure for private keys. Big Wallet, on the other hand, uses MPC technology that utilizes distributed key shards. Since the private key is not visible at any point, it becomes exponentially more difficult for the private key to be compromised. Additionally, Big Wallet employs a Trusted Execution Environment (TEE) to ensure the security of key shards and code execution. Big Wallet's multi-party and multi-cloud deployment further minimizes the risk of single points of failure.
What if Big Wallet goes bankrupt?

Big Wallet is a decentralized MPC MultiSig solution provider, users own all private key shards from the beginning. As a result, even in the unlikely event of Big Wallet Inc. going bankrupt, users will be able to recover the original private key and all key fragments using offline private key recovery tools. Users can import the original private key into any decentralized wallet to regain access to their funds.
What happens after I recover the original private key?

Once the plaintext of the original private key is revealed, Big Wallet will deem the asset compromised and authorize it to halt all movement until further confirmation is obtained. For security reasons, we recommend that you recover your wallet's private key only at the end of your service with Big Wallet.
Is your code open source and has it undergone a security audit?

Yes, the code is open source. Our code has been audited by SlowMist, an established leader in the cybersecurity industry, and our MPC algorithms have been audited by Kudelski Security, a well-known security firm.
Is your code open source?

Big Wallet core algorithms, signing machine, etc. will be gradually open source, view big wallet open source on GithHub
What should I do if the creator's local private key shard is lost?

If the creator's local private key shard is lost, you can recover it using the backed-up recovery phrase.
What should I do if the backup user's private key shard is lost?

If the backup user's private key shard is lost, you can use the Big Wallet App and back it up again.

Transaction

Support speeding up or canceling transactions?

Yes.
Support EIP-1559?

Yes.
Does Big Wallet support Dapps?

Big Wallet offers a Web3 browser extension and REST API, as well as flexible authorization flows to enable secure interactions with dApps. Big Wallet also allows multiple users to manage their assets simultaneously.
Why are Big Wallet transaction fees low?

The MPC MultiSig algorithm computes signatures using pure mathematical algorithms. As the Secure MPC runs off-chain, it appears just like a standard single signature transaction when it's on the chain, thus incurring a similarly low transaction fee. This is in contrast to the significantly higher fees incurred by BTC native MultiSig or EVM smart contracts during the multi-signature process.

FAQs

General

How to contact Big Wallet

You can email us at info@bigwallet.jp to get in touch with the big wallet Team.

How much does Big Wallet cost?

Big Wallet offers a free Basic Plan. For more advanced needs, we have a tiered pricing model. Find out more by sending an email to info@bigwallet.jp . 。

Why should I use Big Wallet?

How long does it take to get started with Big Wallet

Download the app and start using it right away. No more going through the tedious process of trial registration. You can register your organization and start using Big Wallet in less than 5 minutes.

Who does Big Wallet serve?

Centralized financial systems, over-the-counter trading, brokerage firms, exchanges, cryptocurrency funds, and the Web3 initiative are just a few of the many types of customers Big Wallet serves.

What is a Private Key Shard?

Which tokens are supported by Big Wallet?

What distinguishes Big Wallet from a MultiSig contract?

Is there a role with the highest permission in multi-people management?

Once the wallet is initialized, admins have the same permission that multiple people will jointly make important decisions in the manner of threshold signature set in the management mode.

What is MPC and why should I use it?

What is TEE and why should I use it?

TEE stands for Trusted Execution Environment. More information can be found in Intel SGX Trusting Execution Technology . Sensitive data is secured by TEE with hardware isolation, which protects it from external attacks and sniffing attempts. big wallet uses TEE to store users' data, transaction policies as well as other sensitive and important information. This help ensures the security of users' data on the hardware.

Security

What is Big Wallet's security model?

When using MPC to generate private key fragments, the original private key is hidden from generation until transaction signing. All private key shards are stored and used in the TEE, so even if a hacker takes over your server, they won't be able to access your data inappropriately. In addition, Big Wallet's unique offline public-private key exchange mechanism prevents man-in-the-middle attacks on the generation and transmission of private key fragments.

How can I be sure my assets are safe if my email is compromised?

Big Wallet offers enterprise-level security. If you log in using a new/unusual device, you will not be able to access your wallet data and this device will need to be verified by the team creator. This means that even if a user's email account is compromised, hackers will not be able to access the funds. And you can't steal funds.

Are Big Wallet MPC wallets more secure than hardware wallets?

Hardware wallets have risks associated with a single point of failure for private keys. Big Wallet, on the other hand, uses MPC technology that utilizes distributed key shards. Since the private key is not visible at any point, it becomes exponentially more difficult for the private key to be compromised. Additionally, Big Wallet employs a Trusted Execution Environment (TEE) to ensure the security of key shards and code execution. Big Wallet's multi-party and multi-cloud deployment further minimizes the risk of single points of failure.

What if Big Wallet goes bankrupt?

Big Wallet is a decentralized MPC MultiSig solution provider, users own all private key shards from the beginning. As a result, even in the unlikely event of Big Wallet Inc. going bankrupt, users will be able to recover the original private key and all key fragments using offline private key recovery tools. Users can import the original private key into any decentralized wallet to regain access to their funds.

What happens after I recover the original private key?

Once the plaintext of the original private key is revealed, Big Wallet will deem the asset compromised and authorize it to halt all movement until further confirmation is obtained. For security reasons, we recommend that you recover your wallet's private key only at the end of your service with Big Wallet.

Is your code open source and has it undergone a security audit?

Yes, the code is open source. Our code has been audited by SlowMist, an established leader in the cybersecurity industry, and our MPC algorithms have been audited by Kudelski Security, a well-known security firm.

Is your code open source?

Big Wallet core algorithms, signing machine, etc. will be gradually open source, view big wallet open source on GithHub

What should I do if the creator's local private key shard is lost?

If the creator's local private key shard is lost, you can recover it using the backed-up recovery phrase.

What should I do if the backup user's private key shard is lost?

If the backup user's private key shard is lost, you can use the Big Wallet App and back it up again.

Transaction

Support speeding up or canceling transactions?

Yes.

Support EIP-1559?

Yes.

Does Big Wallet support Dapps?

Big Wallet offers a Web3 browser extension and REST API, as well as flexible authorization flows to enable secure interactions with dApps. Big Wallet also allows multiple users to manage their assets simultaneously.

Why are Big Wallet transaction fees low?

The MPC MultiSig algorithm computes signatures using pure mathematical algorithms. As the Secure MPC runs off-chain, it appears just like a standard single signature transaction when it's on the chain, thus incurring a similarly low transaction fee. This is in contrast to the significantly higher fees incurred by BTC native MultiSig or EVM smart contracts during the multi-signature process.