Midas wallet’s focus is speed, with low resource usage and simplifying the heavy traditional wallets.
● Instant on, always up-to-date: the wallet client does not download the blockchain, it requests that information from a Midas wallet services. Able to store hundreds of coins and tokens with low resource usage (few MB only)
● Encrypted wallet: the data file that contains private keys (of coins and tokens) and API keys (of exchange-account) is encrypted by user’s password, therefore user's data & private key are protected from thieves.
● Deterministic key generation: if the user loses the wallet, they can recover it from its seed.
● Transactions are signed locally: private keys are never sent outside, it verifies the information reported by Midas wallet service, using a technique called SPV (Simple Payment Verification). Users do not have to trust any external party (including Midas) with their money.
● Privacy: The servers do not store user accounts, unless they are sharing their portfolio and trading rules to earn leaderboard reward. Even in that case, users’ private keys would still be safe and no one could steal their money.
● No scripts: The wallet does not download any script. A compromised server cannot send arbitrary code and steal users' money.