Onboarding is Dead. Long live Transacting.
Today we introduce Capsule, a toolkit for transaction signing and permissioning that enables developers to go beyond onboarding and seamlessly connect their users to all web3 has to offer.
We're excited to announce the opening of our beta and our support from the very best: a16z Crypto Startup School, Geometry, Spice Capital, Diogo Monica & Nathan McCauley, Rene Reinsberg & Marek Olszewski, Ian Lee & Will Papper, Zaki Manian, Charles Songhurst, and many more.
About Capsule
Crypto developers are currently stuck between a rock and a hard place when interacting with new-to-crypto users. Their options:
- Simplified wallet onboarding that walls-in users to specific apps
- Traditional wallet onboarding with few guardrails and massive drop-off
This is the result of a focus on the first billion onboarded users instead of driving utility to the first billion transacting users.
How we got here is clear – for the first time, crypto has matured into a wide ecosystem of products, stretching the limits of our infrastructure. We've long espoused the benefits of programmability, but ironically we haven’t thought about this feature at the most fundamental aspects of crypto: transaction signing and private key management.
Introducing Capsule: Transactions without Tradeoffs
Capsule is a toolkit for developers to easily upgrade their signing, made possible by two key innovations: Programmable MPC and Secure Enclave-Managed Authorization
Programmable MPC
Capsule is expanding the nature of transacting on-chain with MPC (Multi Party Computation) by introducing programmable MPC that keeps funds safe and ensures keys can only authorize transactions they’re meant to. MPC based systems have been used in crypto before, but typically only to enable key recovery.
Programmable MPC enables simple and secure transaction signing, but also a variety of features like permissioning, autonomous transactions, and even fraud prevention, while still maintaining a non-custodial design and developer flexibility.
Secure Enclave-Managed Authorization
Today crypto relies on passwords and digital account-based identity– factors that don't mirror the realities of cryptography (you can't reset a private key like you would a password!).
We believe auth should be context-dependent and decoupled from key management. To this end, Capsule provides enclave-managed authorization to construct nuanced levels of logic when accessing assets and transacting on-chain.
Where We Are Today
We're building for a future where developers are empowered to create applications that can interact in-context with user assets on users' terms, without sacrificing interoperability. Where there's no need to build your own mobile wallet or desktop client to get the benefits of closed-loop experiences.
Capsule's SDKs are entering a closed beta phase to serve both mobile and web developers’ needs around secure wallet and key management, end-user experience, and transacting - join the beta by submitting your interest here. To stay up to date, subscribe to this blog or follow our progress on Twitter.
We're also hiring – check out our jobs page for open roles.
Transacting should be simple. With Capsule, it finally can be.