Open WaaS is a middleware platform built on MPC (Multi-Party Computation) technology that enables the development of non-custodial wallet as a service (WaaS) solutions. This technology allows the platform to provide secure and decentralized storage of private keys, while still allowing users to access their funds through a web interface or API. The use of MPC technology ensures that no single entity has access to users' private keys, making the platform more secure and resilient to attacks. With Open WaaS, developers can easily integrate non-custodial wallet functionality into their applications, providing their users with a more secure and decentralized way to store and manage their digital assets
A self-custodial wallet as a service (WaaS) has a major advantage: users have complete control over their assets at all times, as funds cannot be moved without the interaction of the client. This means that users have full ownership of their digital assets and are not subject to the risks associated with centralized custodial services, such as hacking or theft. Furthermore, self-custodial WaaS solutions are more resilient to attacks and downtime, as they are not dependent on a single point of failure. As a result, they are a safer and more reliable option for users who want to manage their digital assets in a decentralized manner
Account creation itself is broken down into 2 parts