ZenGo launches non-custodial Libra wallet, alternative to Calibra

Friday 5 July 2019 10:37 CET | News

Israel-based startup ZenGo have released the open source code for their own Libra non-custodial wallet, the first known alternative to Calibra, the Facebook owned Libra wallet.

In comparison to Calibra, ZenGo’s wallet is non-custodial, and will not feature the overlords of Facebook supervising what individual users do with their money. ZengGo highlighted that, unlike Calibra that is expected to be regulated, they will not demand any KYC checks, allowing users to remain mostly anonymous.

Moreover, the company says that by using a Threshold Signature Scheme (TSS), a key splitting technology, the user does not have to manage private keys. ZenGo distributes the secret between the user’s device and the ZenGo server, thus relieving users from the burden of managing their own private key while ensuring that the server cannot unilaterally spend the user’s money.

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Keywords: ZenGo, launch, non-custodial wallet, Libra wallet, Calibra, Israel, cryptocurrency, digital assets, private key, KYC, regulations
Countries: World