User:Natonphone/sandbox

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= ZenGo =

About
ZenGo, is an Israeli company founded July 2018, that developed a cryptocurrency mobile wallet for retail investors. The company was founded by Ouriel Ohayon (CEO), Tal Be'ery (VP R&D) and Omer Shlomovits (VP Research). The privately held company has raised a total of $24M in funding over 3 rounds. Their latest funding for $20 million was raised from a Series A round on Apr 27, 2021. This funding was led by Insight Partners with participation from Distributed Global (in partnership with Temasek Holdings) and Austin Rief Ventures, as well as existing investors Benson Oak Ventures, Samsung Next, Elron, Collider Ventures, FJ Labs, and others.

ZenGo processed more than $100 million in crypto transactions from 100,000 users in 2020 and reached the same milestone within the first three months of 2021. With the latest round of funding, the company intends to offer a crypto debit card through Visa that will be accepted anywhere Visa is accepted. Currently the wallet is available on iOS devices (iPhone 6 and higher) as well most Android devices. The wallet supports Ether, Bitcoin and Binance Coin. Users can buy cryptocurrency through the app using a credit card or Apple Pay.

Technology
ZenGo is a non-custodial, keyless digital currency wallet that can be used to buy and sell cryptocurrencies, generate and manage private keys for digital assets and investment portfolios. The intellectual property of ZenGo includes 4 registered patents primarily in the 'Electric Communication Technique' category. ZenGo's keyless technology claims to be more resistant to security breaches and human error, providing cryptocurrency traders and investors a secure wallet to manage their digital assets and investment portfolios.

ZenGo’s multi-party computation based keyless wallet technology replaces the traditional crypto private key with two independently created mathematical secret shares, while remaining on-chain and user-controlled. Unlike crypto exchanges, ZenGo cannot access users’ funds and facial biometrics is used for restoration of accounts.

With cryptocurrency wallets, users are generally required to choose between full-custody for increased security and convenience. Using “threshold signatures” ZenGo's technology doesn't only store the private key on a user’s phone, it divides the private key into two parts, one part which is stored on its server the other part on the user’s phone. Only when both parts interact, the private key can be computed and a transaction take place. On sign up, ZenGo scans the new user's face and stores an encrypted backup of their private key share on the user’s personal cloud storage (e.g iCloud, Dropbox,). If a user loses their phone, they can re-authenticate with a quick face scan which decrypts the private key share initially stored on their iCloud to access their wallet again.

Services
ZenGo enables the saving and lending of cryptocurrencies. The following Blockchains are supported by ZenGo: Bitcoin, Ethereum, Ethereum based ERC-20, Tezos and Terra (Luna). Because it supports ERC-20 tokens you can store a range of popular DeFi tokens like SUSHI, AAVE, COMP but also the popular stablecoins like USDC or USDT. Users can browse DeFi projects through ZenGo and access savings pools.

ZenGo also supports staking Tezos which means users can act as a validator in the Tezos network and earn approximately 5.5% for doing so. The DeFi lending platform Compound is also supported, which allows users to deposit stablecoins and other Ethereum based assets and earn 5-15% annual interest on them. Through a partnership with Nexo, a crypto lending service, users are able to earn daily interest on crypto assets.