3. Shaaare's Wallet

Security and user autonomy are paramount in the world of blockchain, and Shaaare takes these aspects very seriously. Our secure wallet creation and management system, designed to provide users with complete control over their digital assets while maintaining stringent security protocols.

The process begins when a user creates a new account on Shaaare. Our API triggers the function "ethers.Wallet.createRandom( [ options = {} ] )" from the ethers.js library. This function generates a new mnemonic—essentially a private key—in the secure enclave of the user's smartphone. The process ensures that the mnemonic is created and stored locally on the user's device, meaning Shaaare never has access to this sensitive information.

Once the mnemonic is generated, the user logs into their newly created wallet locally using the function ethers.Wallet(privateKey).

To add an extra layer of security, Shaaare prompts the user to create a PIN code, which is then used to encrypt the mnemonic. The PIN code serves as a safeguard, ensuring that only the authorized user can initiate transactions. Every time a transaction needs to be executed, the user must first decrypt the private key using their unique PIN code, adding a personalized security layer to the process.

If a user loses their phone, they can still securely access their digital assets. All they need to do is log into their Shaaare account on a different device and enter their encrypted mnemonic. The system allows for the recovery of the wallet using the function ethers.Wallet.fromMnemonic(mnemonic), thereby ensuring uninterrupted access to their assets.

The Shaaare Wallet is designed with the objective of making sure that the user never has to reveal their private key and maintains 100% responsibility for their cryptocurrency assets. This approach combines robust security measures with a user-friendly interface, giving our users peace of mind and full control over their digital life.