In my previous two articles, we reviewed 1) that Bitcoin and Ripple each took the concept of “blockchain” and implemented it differently to fit the needs and requirements of their respective applications, and 2) that Zilliqa significantly boosts transaction rates through the use of sharding.
Now, we will look at an example of the range of blockchain implementation variation driven by application purpose. We will consider the impact of the blockchain concept to mobile payments.
Mobile payments currently require users’ digital identity and payment information to be stored in centralized databases making them vulnerable to attack. Blockchain-powered smartphones can disrupt the smartphone industry by turning smartphones into trusted, sharing revenue centers rewarding users and making payments easy and secure.
What is Zipper?
Zipper addresses the awkward user experience found in Ethereum and other blockchain versions. Difficulty in handling private keys, for example, is seen as a barrier preventing the adoption of various blockchain services by users in significant numbers. Add to that real concerns over numerous recent cases in which people’s credit card and other payment data have been hacked.
Zipper, a mobile device platform, simplifies blockchain-based solutions, so they are easily accessible to users. The Zipper platform seeks to make access to blockchain-based distributed apps seamless and user-controlled by making the handling of our cryptographic identities and private keys easy. Zipper turns user’s phones into hardware wallets, that safely and easily manage user’s identity and private keys. Rather than complex interfaces such as paper wallets where users store their private keys, Zipper lets us confirm crypto-based transaction smoothly and securely via mobile phones.
Inherent security meets usability
Blockchain eliminates digital identity risks with private keys so that purchasers’ identity is not stored in centralized locations. Zipper works independently of the phone’s OS which means the phone cant access data on the Zipper layer unless the user allows it.
The Zipper wallet solution uses cryptographic identity management through key splitting and decentralizing the key holding to different online services. Zipper only allows each online service provider to hold part of the key. It is only the user, who has full access to all parts of the key, who can execute payments. The device itself never stores the full cryptographic key.
The Zipper product turns your Smartphone into a simple, secure hardware wallet. The developers achieve this through Shamir’s Secret Sharing code that helps to decentralize storage of your wallet’s private key. It includes a feature that turns a user’s wallet into a personal multi-signature “vault”. The user can then access their funds using a combination of various verification methods like pin code, fingerprint, voice and facial recognition.