Fortmatic is a more convenient replacement for Metamask and other web3 wallets. With it, you don’t need a browser extension but only a mobile number or email address are required to access apps built on Ethereum.
However, Fortmatic has changed its name to Magic.
Fortmatic says there are at least 22 things to do before a new member can send across a transaction for the first time if other kinds of verification procedures are to be employed. But now, the emphasis is on reducing the requirements so that the number can reduce from 22 to just few so that those who have never used web3 can find it less demanding.
Applications can add Formatic to their platforms because its Software Development Kit supports it. To achieve this, one only needs to duplicate some of its codes unto the application where Fortmatic should appear.
For instance, it was with the help of Fortmatic that ETHDenver wallets were charged with Dai to purchase food.
Fortmatic began to rise from the year 2018 when Sean Li established it. Sean Li is an experienced software developer who is known for his role at Docker and the creation of Kinematic software solution.
Li came up with Kitematic when there was a need to include some of Docker’s products developed on Linux to Mac and computers using Windows. There was a favorable outcome after the procedures such that Docker was so pleased with the result that it decided to buy Kitematic.
With the idea behind the creation of Kitematic, Sean Li decided to build Fortmatic so that there would be an easier way to use some complex software. He combined his knowledge with what he learnt about Ethereum to make Fortmatic a success at its launch.
Crunchbase revealed that three investors took part in the seed fundraising that took place two years ago in June.
Just five months ago, Fortmatic made it known that Placeholder VC and Naval were important in the seed round that fetched it $4 million. This announcement came at the same time when Fortmatic changed its name to Magic.
Reasons to choose Fortmatic
- Ease of use
Fortmatic is good for those who are new to using applications.
People usually get their way through dApps only if they have a browser extension or a kind of web browser but this discourages many from using dApps.
Fortmatic saw that there was a need to simplify the process so it developed a system where only an email address and phone number were needful to begin accessing dApps, thereby eliminating the importance of browser extensions and apps originally designed for this.
With this development, it is now possible to use any kind of browser and device, even a phone, to connect to dApps. Fortmatic says more than three out of five people that try to use its services do so on their mobile devices.
- The developer’s choice
Developers find it easy to add Fortmatic to any platform. All they need to do is copy and paste some codes on any web 3 application and that settles it.
Fortmatic employs safety measures that are of the highest standards such that can be seen among custodial services. With its HSM, it is difficult for a hacker to penetrate the network without anyone noticing and stopping them immediately.
This is different from what is obtainable in other places where it is possible for hackers to gain access after getting the private keys since they are not encrypted.
Because of its numerous qualities, a lot of projects have decided to adopt it. Among them are Set Protocol, Airswap, and Radar Relay.
As more and more projects begin to see the need to include Fortmatic to their platform, it won’t be a surprise to discover one morning that it has become the major avenue to access all kinds of DeFi apps.
Mode of entry
If you would love to start using Fortmatic, you can do so by launching an app that works with it. In this illustration, we shall dwell on Airswap decentralized exchange by going to the website here
· Locate the “connect wallet” button and click
· You will see all the wallets supported on Airswap. Find Fortmatic and click it.
· There will be a window requesting you to submit an email address. You can choose to use a phone number instead.
· You will be asked to verify anyone you submitted with the code sent to you.
· The final step is creating a password to prevent unauthorized entry
Voila! It is now possible to access Ethereum applications with just a phone number or email address in addition to the password you chose. You no longer need to go through several steps.
To know about Fortmatic’s recent events and news, the following links will be helpful: