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The quest for the optimal wallet-as-a-service (WaaS) solution has become so complex that anyone just starting with in-dApp web3 wallets might find it overwhelming to choose. So, in the spirit of good user experience, we are condensing everything you need to know under one post to help you decide which is best for you.
Various new MPC wallet providers are popping up, and this only shows a huge market demand for easier crypto onboarding. We now have products with different strengths tailored to different needs. It might take someone a lot of time to research, analyze, and compare their features comprehensively. You don’t need to because we already did it for you in this article.
What Features Are You Looking For?
We compared notable players in the MPC wallet sphere based on customizability, security, ease of use, frontend integration, and support. A startup that wants to ship an MVP in the shortest possible time might prioritize ease of use over customizability. Meanwhile, an app with millions of users would look for a wallet solution built on the most secure cryptography and mpc wallet architecture. Whichever aspect you are looking for, there is a platform for you:
Customizability
Web3Auth offers high customizability, allowing users to tailor authentication processes to suit their specific requirements. With support for custom authentication flows, third-party integrations, and full whitelabeling options, Web3Auth empowers users to create seamless and branded authentication experiences. Web3Auth is also compatible with AA wallets, so if you want to integrate with account abstraction without compromising flexibility, you can go with Web3Auth.
An alternative to Web3Auth would be Magic. They also provide robust customization capabilities, enabling users to personalize authentication processes according to preferences. If you are less technical but still looking for more customization options, then Magic can provide about the same level of customization for their more advanced plans.
Another option if you’re looking for a fairly customizable WaaS solution is Circle. Circle enables basic white labelling. However, there is no provided full whitelabeling option for those who want to create a faster wallet integration.
Supported Auth Factors
Web3Auth stands out with its comprehensive support for a wide array of authentication factors. With over 19 social logins, email passwordless authentication, SMS verification, and integration with external wallets through multiple adapters, Web3Auth provides users with diverse options to align with their preferences.
Other platforms, such as Privy, Particle Network, and Circle, also offer authentication solutions, each with its unique set of features. Privy, for instance, supports social logins for a few major platforms, such as X, Google, LinkedIn, and TikTok. Meanwhile, Circle supports signing in with PIN and security questions.
Ease of Use
Web3Auth offers straightforward authentication flows and easy integration options with Wallet Services, a new product release. Wallet Services is a full-stack wallet development suite that previews the wallet while enabling users to customize the authentication flow and front end with a simple click of a toggle.
In terms of ease of use, Privy offers a great alternative with its intuitive interface that requires less code. With simple toggle options that remove the necessity for making smaller decisions like how to design the modal UI screens, they simplify the implementation of authentication solutions for developers of all levels. As of this writing, they are supporting wallets only on EVM chains.
Particle Network is a good WaaS option for NFT companies. It provides simplified authentication workflows and built-in NFT functionalities, ensuring a smooth authentication experience for wallets intended for NFT minting and trading.
Another wallet that specializes in NFTs is ThirdWeb. It focuses on simplicity and accessibility, offering easy-to-use authentication services tailored to the needs of NFT companies. With intuitive interfaces and straightforward integration options, ThirdWeb makes it effortless for users to implement and manage authentication processes.
One thing of note is that specialized and simplified platforms usually charge a premium to their users for providing speed and convenience. So, if you’re looking for any of these services, weigh their pros relative to their pricing.
Security
Security can be a top concern in Web3 authentication, and each MPC wallet can have varying levels of security depending on the key infrastructure and cryptography they are using.
Web3Auth employs advanced cryptographic mechanisms such as SSS (Shamir Secret Sharing Scheme) and TSS (Threshold Signature Scheme) to ensure the integrity and self-custodiality of their wallets. With multi-factor authentication (MFA) support and customizable setup, Web3Auth stands out as the most secure and customizable solution for businesses and developers.
Magic implements stringent security measures to protect user data and assets but in a more centralized way. They use AWS Hardware Security Module Key Management System (HSM KMS), a cloud-hosted security module backed by its hardware. By centralizing some aspects of key management, they can speed up processes like key reconstruction, authentication, and recovery.
Privy uses a less flexible version of SSS, allowing MPC for just one device, one authentication factor, and one recovery factor. This simplicity allows for less room for errors and edge-case scenarios because users are forced to adhere to the same authentication template.
Frontend Integration
When it comes to frontend integration, many platforms offer comprehensive support for various web, gaming, and mobile frameworks, making it easy for developers to integrate authentication solutions to common frameworks like React Native, React, Flutter, Unity, Unreal, iOS, Android, NextJS, and AngularJS.
Web3Auth provides extensive frontend integration options, supporting web, mobile, Unity, and Unreal Engine platforms and 13+ frameworks. They offer both modal and non-modal options, allowing users to choose whether they want a templated or more customized authentication flow. This versatility undoubtedly makes them the wallet platform with the most extensive front-end integration.
Magic offers seamless front-end integration and supports web, mobile, and Unity. With customizable login modals and embeddable widgets, Magic enables developers to integrate authentication solutions into their applications effortlessly.
Particle Network offers flexible frontend integration options, supporting web, mobile, Unity, and Unreal Engine platforms. They nailed the modal option; however, there is no SDK to support those who wanted a non-modal SDK. With developer-friendly tools and documentation, Particle Network facilitates seamless integration of authentication services into diverse applications.
Support
Good developer support is important for the successful implementation of wallets, and each platform offers varying levels of support to assist users and developers.
Web3Auth offers the most comprehensive support through its documentation, tutorials, and developer community. This enables users to troubleshoot issues and access its resources effectively. With a lively community support channel, Web3Auth ensures timely assistance for users and developers.
Magic, Particle Network, and Privy also offer reliable support services, including documentation, tutorials, and a dedicated support team to assist users with queries or issues. Through its responsive customer support channels, Magic provides assistance and guidance to users and developers.
How to Pick the Right Wallet Provider for You
In conclusion, the Web3 WaaS space has diverse solutions catering to the needs of applications across various industries. The user can choose what they prioritize: security, customizability, ease of use, or front-end flexibility. There is always a solution tailored to them.
Each platform offers unique features and capabilities to address the evolving demands of the decentralized web. To summarize:
By evaluating your wallet options, you can make informed decisions when selecting the optimal authentication solution for your specific requirements.
As the market witnesses the emergence of various WaaS, it's evident that the demand for streamlined crypto onboarding is significant. It can be daunting to see so many options at first. Still, by carefully considering these aspects, you can confidently select the ideal wallet solution to elevate your dApp’s user experience in the evolving Web3 landscape.
If you're keen on experiencing the Web3Auth difference, then check out our live demo on this page.
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