ParallelChain Lab Beta Tests Its First-Of-Its-Kind Multi-Biometric Wallet, ParallelWallet

Source : zycrypto.com

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ParallelChain Lab is opening its doors to Beta testers on iOS to sign up for an early preview of ParallelWallet, the native wallet on its ecosystem.

As per the announcement, the Beta testing will allow users access to the high-tech soft wallet mobile app built from blockchain and artificial technologies. The ParallelWallet implements multi-biometric-based authentication that delivers an unparallel user experience with maximum security and simplicity.

The Beta program will be open until June 5, 2022, at 5 pm UTC. Initially, it will be available to iOS users but later will be open to Android users. Note that selected participants will test the app’s core functionalities to provide essential feedback and suggest an improvement for the final product. The key features available in ParallelWallet Beta include multi-biometric authentication and send and receive testnet BTC, testnet ETH, testnet USDT, and testnet USDC. Participants will also check “ParallelChain-ed” activity logs, built-in live token price charts, market data, and account privacy mode.

ParallelWallet implements a multi-biometric system for user authentication, three biometric modals in one mobile terminal. This advanced multi-biometric system aims at enabling ParallelWallet to replace passwords entirely. This system combines anti-spoofing facial, voice, or speech, and palmprint recognition technologies. The user’s unique bio-key will secure all wallet accounts to combine two or three biometric traits.

Notably, the ParallelWallet is the first implementation of personal blockchain technology. Each time an account is created on the wallet, a personal ParallelChain is automatically generated. This chain powers that account, providing it with unique privacy and security capabilities, allowing users to monitor and track account activities.

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In addition, ParallelChain Lab will not have access to any ParallelWallet users’ biometrics data. ParallelChain Lab also does not perform any data management in this regard. Users have sole ownership over their data. This data is stored in a non-readable format in their personal ParallelChain blockchain.

Commenting on the wallet, Ian Huang, Founder, and CEO of ParallelChain Lab, explained:

“Imagine a world where customers can take their real-world purchases into the Web 3.0. What we are talking about is the possibility of building a Metaverse that works as smoothly as the real world and, as an example, loyalty points can be converted into digital rewards. ParallelWallet provides a secure safeguard for transactions on the blockchain platform, which is truly a “blockchain in your pocket!”

The ParallelWallet will enable users to view the live status of the ParallelChain Mainnet. Inspect the transaction on ParallelChain, track the performance of XPLL and manage XPLL staking. The wallet supports XPLLs, other ParallelChain-standard tokens, and NFTs, BTC, ETH, and ERC-20 tokens.

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