Torus is a private key management firm that develops and provides dApp authentication via OAuth API to improve logins for dApps (Decentralized Application), also an Ethereum wallet. Torus allows users to login to dApps with OAuth protocol via Google, Facebook, Github etc without sharing passwords or private keys. Torus aims to make trustless logins more secure, advanced and common.
Torus is backed by exchanges and companies like binance labs, coinbase ventures, sixth horizon, accomplice and terminal. Torus secured $2 Million seed funding from the above mentioned companies during July of this year. The company aims to have potential and aggressively wants to expand in password security and protection.
OAuth stands for Open Authorization Protocol. It is a standard authentication protocol developed to help delegate seamless login access. This protocol allows users to grant information to other websites without sharing passwords. Some famous examples can be “Login with Google” or “Sign up with Facebook”.
The convenience of these login methods has increased web and app usability, it is a welcome innovation in the dApp authentication and identity space.
Image courtesy TORUS
By now you might have realized torus is serious business. It is most suitable for developers looking for decentralized key generation systems to integrate in their dApps. The user keys are encoded into a smart contract. Torus runs nodes & maps and shares it without holding any custody as it modified standard OAuth to make logins completely decentralized and trustless.
Torus plans to support more smart contracts platform as it is still in development stage. That being said torus works on ethereum mechanism and is developed on nodeJS. The web wallet also works on OAuth protocol, If you are looking forward to store some ethereum or any of the smart contracts or collectibles.
If you are a nodeJS developer torus might be an amazing development hobby for you. You can develop frictionless logins for your dApps, wallets, softwares etc. A complete documentation is available on https://docs.tor.us/
Torus has a message on their developer documentation that they are working on email/password logins. To get notified when this is ready, email them at the supplied address on this page.
Torus's OAuth logins inherits account recovery and management mechanisms from thier Verifiers. Each OAuth provider has their own methods of handling account recovery, completely independent from Torus.
Torus has a range of providers to allow your users to purchase cryptocurrencies directly with Credit Card/Wire Transfer. Developers can either access this through presenting the "Topup" page below, or trigger the FIAT-to-Crypto providers directly from the API.
You can also purchase Ethereum using Debit or Credit cards while working with TORUS
Torus UI supports collectibles via the OpenSea API. It is easier if already listed on OpenSea so that the Torus support can be done through the UI.
In the event where the user would like to export their private key and use their funds from a different wallet provider, they can export their private key from Settings > Private Key.
The Torus wallet app supports multiple languages (Whitelabelling). Contact us at hello@tor.us for more information. The front-end is customizable to Enterprises on a production level.
Torus resolves user's ETH Address into OAuth IDs. This can be email address or social login. So there is no need for the person sending you money to type in long ETH addresses.
