The complexity of the user experience is one of the reasons why most people don't use the services. A top Indian exchange wants to make that better for users around the world.
Okto is a mobile platform that won't require users to remember a long string of words as a password. The platform will tie the rest of the key to the customer's device, where it will be used to verify their identity.
Okto has integrated multi-party computation technology to solve private key related issues, helping users to recover their passkey and funds easily.
In an interview, Khandelwal said that Okto is meant to help the mass get exposure to web3. He said that the larger population wasn't comfortable with storing and remembering the key.
He said that the new platform would support more than 20 chains and eliminate transaction fees across them. Okto will be available to users from all over the world. He said that the startup has begun to engage with developers.
A dedicated team of over 50 people work on Okto. Despite the downturn in the market, the startup is sticking to its guns and focusing on coin
The internet is becoming more equitable as the technology matures. The first step in this direction is our new Defi offering. He said that in the next three to five years, all CeFi platforms will have a DeFi arm that will be efficient and economical.
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