Two days of very labor-intensive workshop and the Digital Assets Standards Association is born! More details later, but for now it’s safe to say that together with a stellar cast of blockchain professionals of all trades – lawyers, technologists, investment bankers, etc.


Two days of very labor-intensive workshop and the Digital Assets Standards Association is born! More details later, but for now it’s safe to say that together with a stellar cast of blockchain professionals of all trades – lawyers, technologists, investment bankers, etc.

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The Gnosis Safe is live on mainnet


**TLDR:**
*You can download the Android app (iOS coming soon) right now that will deploy a mobile-friendly personal smart contract wallet (multisig). You can add a Chrome extension that will hold the second key and will allow you to interact with dApps similar to Metamask (but then with your phone effectively as a 2FA device).
[**safe.gnosis.io**](https://safe.gnosis.io)*

Why is this a big deal?
Basically all wallets today are EOAs (Externally Owned Accounts) – those accounts are “all-or-nothing accounts”. You have the key – you have FULL control over the account, you don’t have it – you have nothing. Smart contract wallets, in contrast, can have access logic by whom and how they can be used. So far, the only instance of smart contract wallets in use are “multisigs” used by teams. However – we are bringing them to the end user because they will provide **significant UX and security improvements**:

**UX:**

* you can have a wallet that only contains tokens/tokens are used to pay for gas
* batching of transactions into one atomic transaction
(many dApps require multiple transactions where the user would expect a single transaction; e.g. approve a token + interact with the contract that then uses the approval)
* outsource the gas pricing strategy to a specialized service
* have different devices control the same account without sharing/exporting the seed (instead multiple keys are registered as an owner)

**Security:**

* The Safe removes the single point of failure; it can be controlled from multiple devices without any device having full controll
* different permissions for different devices (e.g. you have all your ETH/tokens in one account and can spend up to $500 per day with the Chrome extension, for more you have to also use your hardware wallet)
* (social) recovery rules (e.g. if your account has not been touched for 100 days (you lost your keys), you can trigger a recovery process in which a set of your friends can give you back ownership)
* exchange your keys if you have reasons to believe they might be compromised

All of that is enabled with the contract design. However – to manage expectations – in this first release the benefit over other wallets is the 2 factor aspect. You can interact with dApps using the Chrome extension and you will have to confirm the transaction on your phone as well. If either your computer or your phone gets compromised, your funds are still safe.

Some are asking us why we are building such a product when our main product is prediction markets? As a project early in the space (we had a [live prediction market](https://www.reddit.com/r/ethereum/comments/3i9i8m/groupgnosis_prediction_market_is_live_trading_has/) on mainnet just weeks after Ethereum’s launch in 2015), we have always contributed to infrastructure. At the time we prepared our token sale, there was no multisig wallet that could handle tokens – that is why we built what became the standard for teams in the space: https://wallet.gnosis.pm. Instances of that contract handle around 2 million ETH today and much more in tokens. The Safe is the successor of that project with many improvements that make it easy enough for normal end-users to use it. For further reading, check blog.gnosis.pm and specifically this [post on the safe](https://blog.gnosis.pm/product-status-tl-dr-8f27ca699e93).

When we release the prediction market, it will be possible for a user to use it only having a stable coin in their Gnosis Safe and without worrying about complicated gas pricing or loss of all funds if a single device is compromised.

For help, questions, critique also join us on Riot: https://chat.gnosis.pm/

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Any thoughts on Safe Haven (SHA)? New Project focused on Crypto Inheritance – Even though the market is in a bad state it shouldnt stop encouraging projects from keep striving to fulfill their ambitions.


Any thoughts on Safe Haven (SHA)? New Project focused on Crypto Inheritance – Even though the market is in a bad state it shouldnt stop encouraging projects from keep striving to fulfill their ambitions.


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View Reddit by Crypto913