DFINITY Foundation Launches OISY: ‘First Fully-Decentralized Wallet’ for Bitcoin, Ethereum, Solana, and ICP

The DFINITY Foundation, a major contributor to Internet Computer (ICP), has launched Version 1.0 of the OISY Wallet following its incubation of the project.

The website described the wallet as “a next-generation, fully on-chain crypto wallet designed for security, simplicity, and decentralization.”

OISY Wallet trustlessly integrates with Bitcoin, Ethereum, Solana, and ICP. The team plans to add support for more chains.

According to the press release shared with Cryptonews, OISY enables users to manage and self-custody digital assets on multiple blockchains. The functionality comes from a web experience “served directly” from the blockchain by smart contracts.

This means that there is no need to install any wallet software, including browser extensions and phone apps. Users utilize passkey technology for authentication. This technology, says the team, maintains authentication data and signs sessions inside “secure hardware on modern phones and laptops.”

Therefore, all this helps protect users and their funds from a wide range of software-associated risks.

Pierre Samaties, Chief Business Officer at DFINITY, commented that OISY “streamlines multi-chain asset management while increasing decentralization and security.” Also by removing the complexity of key management, the wallet “makes multi-chain digital asset management accessible to a wider audience.”

Meanwhile, the Network Nervous System, the decentralized autonomous organization (DAO) that controls the Internet Computer blockchain, exclusively controls and updates the smart contracts that power OISY.

This prevents OISY project code contributors from modifying smart contracts. “Thus, the risks of censorship, key compromise, key loss, phishing attacks and third party failures are greatly reduced,” the team argues.

Smart Contracts Sign Transactions

The team notes that crypto wallets typically require users to sign transactions themselves, exposing them to potential errors and guaranteed difficulty. However, OISY’s goal is to alleviate these issues and provide a user-friendly experience.

One of the ways they do so is having the smart contracts sign transactions on users’ behalf. When the smart contracts move to sign a transaction, independent blockchain nodes cooperate to create the signatures through consensus, the announcement explains.

Furthermore, the smart contracts leverage “chain key” technology, so they can trustlessly sign transactions for users on multiple blockchains. In turn, this enables users to interact with tokens and decentralized applications (dapps) on the four supported chains.

Also, per Akeel Qureshi, Core Contributor at OISY Wallet, technology should “feel invisible when it’s working at its best.” Just as nobody thinks about the TCP/IP stack when sending an email, they shouldn’t have to think about blockchain protocols when managing their assets, he says.

Dominic Williams, Founder and President of the DFINITY Foundation, commented that the OISY Wallet is “a wonderful example of the World Computer paradigm” as envisioned by ICP.

The World Computer is the decentralized union of all blockchains hosting tokens and smart contracts, the announcement explained.

Meanwhile, to celebrate the release of this first version, the team revealed the ‘OISY Sprinkles’ program. The project will distribute “semi-random quantities of well-known tokens,” such as BTC and ETH, into users’ wallets “at unpredictable times,” to reward them for activity.

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