Elrond Wallet ownership via cryptohraphic

New Elrond Wallet Feature: Proof Of Address & Assets Ownership Via Cryptographic Message Signing & Verification

Elrond is built to be a fast, secure, and scalable blockchain project for decentralized apps, enterprise-level use cases, and the decentralized economy.

It’s an open-source blockchain platform that is revolutionary in its ability to exchange, validate, and document valuable data. It’s valuable for payment transactions, contract signing, and transfer of rights. Transactions on Elrond are decentralized, which eliminates the need for intermediaries such as governments, banks, and other third-party entities.

Elrond places great emphasis on security, which is evident from its network design built to withstand significant security risks such as Sybil and nothing-at-stake attacks.

The latest addition to the Elrond wallet is the “Proof Of Address & Assets Ownership Via Cryptographic Message Signing & Verification” as announced on their medium blog.

The team states that “providing irrefutable proof of ownership with 0 costs and 100% confidence is an exciting development in the collaboration space involving digital signature.” The blog further points to the power of blockchain as an arguably more secure solution than central certification authorities, which also provides a more secure and cost-effective alternative that might soon become the norm for digital signatures.

As a matter of fact, most Elrond dApps already include the new feature, most notably the project’s official wallet app Maiar, DeFi Wallet, Ledger, etc.

Individual users can now quickly verify ownership directly from the Elrond Web Wallet via the newly launched Message Signing & Verification feature.

To sign a message, you simply connect your Elrond Web Wallet and select the “Sign Message” option found in the left menu and follow the prompts to complete the process.

Whether you mistakenly sent funds to an exchange hot wallet or just need to verify if you have access to an address for receiving rewards or other funds, the Sign Message feature comes in handy as an extra security check to avoid many errors and greatly reduces the risk of losing funds.

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