DieFi is a semi-Dapp
The core parts of DieFi are decentralised and some parts are centralised.
What part of DieFi is decentralised?
The decentralised parts of DieFi are the most critical; the Dead Man’s Switch and the end-to-end encryption.
The Dead Man’s Switch timer and trigger mechanism is the process to ensure that your beneficiaries and loved ones will be handed over access to the crypto assets and documents you have assigned to them in case of emergency or death. This process is done securely using a smart contract on Polygon to activate the Dead Man’s Switch timer, which enforces the timed-based encryption conditions.
Further, the whole process of protecting the benefactor’s assets and handover the access/keys to the beneficiaries, involves end-to-end encryption, threshold encryption, proxy re-encryption and identity-based encryption.
Article is closed for comments.