Ryder Raises $1.2M for Human-Centered Crypto Wallets Without Seed Phrases
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Ryder crypto startup raises $1.2 million to build wallets without seed phrases, using social recovery instead.
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The Ryder One hardware wallet uses the Shamir Secret Sharing algorithm to distribute private keys among a group rather than rely on seed phrases.
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The wallet's TapSafe recovery feature allows for easy onboarding in under a minute without sacrificing security.
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Ryder faces competition from major hardware wallet maker Ledger, but believes its human-centered design and team experience gives it an edge.
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The Ryder One wallet will launch November 1st on Kickstarter, initially supporting Bitcoin, Ethereum, Polygon, and Solana.