The privacy of a public network is a bit contradictory, since by nature of its design, the data must be shared and distributed widely to be considered valid. So the developers of the wallet Argent, the belgian Itamar Lessuisse and Julien Niset, have been working on tools to perform private transactions and even calculations private in general about Ethereum. Even raised the objective of encouraging a wider adoption of cryptocurrencies.Itamar Lesuisse, in conversation with Breaking News, described proud of their development. It is a wallet, intelligent, non-custodial, easy-to-use, that allows the recovery of the private keys and subsidizes gas for transactions in Ethereum. A project whose characteristics made him a creditor in 2018 a prestigious award, for user experience, is granted by the conference Devcon4 of Ethereum.
Argent is the first portfolio of cryptocurrencies without custody, ease of use, presentation and security in the style of the best banking applications, as for example N26, Revolut and Monzo. You can freeze your account, and regain access without a phrase-initial and approve large transfers. We have also integrated with the best applications of finance decentralised so that it can earn interest and borrow in just a few steps.Itamar Lesuisse, CEO and co-founder of Argent.
To make more comfortable the user experience, the developers have changed the address long alphanumeric names domain Ethereum (Ethereum Name Services, or ENS) readable by humans. In this way, a user of the wallet’argent, you can register the name of your best friend and you click on “trust this contact”, after which there will be no daily limit for funds transfer between the two.
We got rid of long addresses and cryptic because they are too intimidating and easy to make mistakes. With ENS, on the other hand, you can write the name of a friend and ready. This is a small change with a big psychological impact.Itamar Lesuisse, CEO of Argent.
But the use of ENS is not only used in the wallet Argent to send Ethereum tokens or ERC-20, and thus also serves to simplify the security functions, such as, for example, to add guardians to help restore or close the portfolio in a given time.
When we started with Argent we knew that we had to get rid of the phrases initial. So with Argent, we’ve reinvented the banking experience of a decentralised manner. In banking, if you lose your card, call your bank and they send you a new one. With us, you can choose people, devices (such as portfolios of hardware) or even third-party services that you trust. Help you regain access to your wallet in case you lose your phone. We also have withdrawal limits per day. These automatically detect the large transfers and delayed for 24 hours. At this point you can cancel them or approve them. This prevents anybody can empty your account.Itamar Lesuisse, CEO of Argent.
In addition to sending funds from one user To one B in private, Argent used a tool Hopper. It is a mixer of open-source code to perform private transactions in Ethereum using a mobile device iOS.Itamar Lesuisse, CEO of Argent, said that the goal is that when you use the wallet, it seems that we use an application that is not of cryptocurrencies. Photo: Twitter profile of Itamar Lesuisse @itamarlEn essence, Hopper is a contract smartphone in which users can make transfers of 1 ETH and withdraw funds privately without revealing any direction of public account. It also takes advantage of the zero knowledge proof (ZKP for its acronym in English) to demonstrate that they are recipients of private transfers.The ZKP is a type of blockchain that determines the legitimacy of a transaction, without revealing any information of the same.”Users can deposit notes 1 ETH in a contract smart mixer and remove them later to a different account by providing only a Zero Knowledge proof (zkSNARK) that previously placed a note in the mixer, without revealing from which account you sent that note,” describes the official page of GitHub.
Building a unique experience
In’argent assure you that working with the aim to achieve a unique user experience, but what, then, is what they believe that makes them lack?
We want to eliminate all the complexity to make it seem that we use an application that is not of cryptocurrencies, but with the advantages of the unique services that only the world crypto may offer. We also want to provide a greater peace of mind with secure deposits, a fiat is easier and cheaper to the market all over the world, and more integrations with the best Dapps.Itamar Lesuisse, CEO of Argent.
However, some complications have been presented in the pathway, as you did see recently a user on Reddit who commented that by providing your e-mail and phone number is put in the queue between about 3,000 users and that in two weeks the tail has not moved.About Lesuisse points out that working to solve the drawback, since it takes a while to manage the comments and needs of each user. He explains that currently have managed that the queue in iOS is just a day or two, while on Android is a little slower. Also to solve this are to present to each user Golden Tokens to invite your friends and they can jump the queue.On the other hand, a wallet as Argent, which subsidizes the gas transactions in Ethereum, it can be the item that is generating great interest among the users waiting in queue. Something from the inside of the Argent is seen as necessary to improve the user experience. But then there arises another question What is your business model? How do you pay’argent to your employees?
We charge a small fee for the exchange of fiat to crypto and crypto to crypto. But for the future we have planned many options, from premium services to share revenue with DeFi Dapps. We also are fortunate to have the support of the best venture capital firms in Europe, Index Ventures and Creandum. We raised four million dollars from them at the beginning of 2018.Itamar Lesuisse, CEO of Argent.
Lesuisse adds that currently the wallet is offering to exchange cryptocurrencies by fiat money to the market of Europe, where they have a home of change, built for the sale and purchase of tokens ERC-20. In addition to in the near future have plans to integrate with a partner in the united States. Their aim is to achieve that for the user it so easy to relate to the world of cryptocurrencies that you hardly notice that they are negotiating with cryptocurrencies.