Detailed technical FAQs relating to Fiorin wallet
Fiorin is a non-custodial / self-custodial Bitcoin SV (BSV)
Web3 wallet with an integrated Ethereum
Fiorin uses BSV
in order to have:
- 1.Near-zero transaction fees (BSVtransaction fees are fully covered by Fiorin)
- 2.Instant financial settlement (BSVtransactions do not require waiting for block confirmations)
- 3.Data payloads on chain for unrivalled transparency (BSVtransactions can include arbitrarily sized data payloads as an additional output for near-zero cost)
Web3 wallets are the gateway to the next generation web-apps, where digital cash is used for frictionless payments. Web3 wallets allow users to securely store their digital assets (such as stablecoins) as well as interact with smart contracts and applications built on blockchain networks.
Under the non-custodial / self-custodial wallet paradigm, Fiorin users have full control of their private keys (credentials). Private keys are necessary in order to validly sign / authorize transactions (make payments).
Fiorin (the wallet service) cannot access a user's private keys and therefore cannot validly sign transactions (make payments).
Control of private keys is simplified with the use of hierarchical deterministic wallets (HD wallets). HD wallets simplify the non-custodial user experience by allowing the user to control their private keys via knowledge of 'seed words' or a 'seed phrase':
To recover your assets on BSV
, all you need is your seed phrase (above).
An email and password combination is used by Fiorin as your bridge smart contract credentials. This is how you authorise sends (withdrawals) from the bridge on the Ethereum