The Step Ecosystem is developing rapidly!
We recently announced Step 2.0 mainnet - Prometheus, taking crypto accessibility to the next level. What better time than now to answer community questions?
In this article, Step Ecoystem’s CTO, Dmitry Gordeychuk, shares his insights on development and technical achievements that are being made through Step 2.0. Dmitry Gordechuk has been in the industry for over 6 years and has experience in blockchain development, with a deep understanding of DeFi. His knowledge and experience has given him the knowledge and expertise required to spearhead technological advancement at Step App.
Q: The Step Ecosystem is quite extensive with its own blockchain, DEX, and Step App. How many developers are on the team making everything happen?
Dmitry's Answer: The Step development team comprises 21 highly skilled and experienced developers.
Q: What technical advancements has Step App made in the past year?
Dmitry's Answer: In the past year we launched the mainnet of Step Network, which is the first chain for lifestyle, and prepared the infrastructure for further evolution and integration with AI. Also, we launched several fundamental products such as StepEx, StepBridge, and StepScan. Additionally, we launched our beta version of Step SDK and Step Node. We reached a significant milestone of 120,000 active wallets on the Step Network!
In terms of adoption, we launched our flagship app, Step App, which has over 100,000 active users in less than a month! In fact, Step App continues to get thousands of installs every day. We have seen a lot of success with our gaming model and have big plans for 2023.
Additionally, our FITFI token currently has over 50,000 active stakers, is listed on almost all tier-1 centralised exchanges, and has a non-inflationary yield.
Q: What is the concept of “crypto as simple as email” and how does the Step team plan to make it a reality?
Dmitry's Answer: “crypto as simple as email” is a key pillar of Prometheus Mainnet, and a necessary ingredient for #RoadTo10Million (and more!). It refers to the idea of making the process of using and interacting with cryptocurrency as easy and intuitive as using email. The goal is to make crypto more user-friendly for a wider audience.
The Step team plans to take crypto accessibility to the next level by simplifying key generation and authentication processes, through the use of bio, phone, pin, and email authentication. This will allow for a multi-party computation key mint that is accessible and easy for everyone to use.
Q: What is bio authentication and how would it work?
Dmitry's Answer: The key generation process for Step 2.0 will involve bio, phone, pin, and email authentication as means to verify the user’s identity and create a unique key that can be used to access the wallet. This would allow for a more secure and user-friendly process for creating and managing keys.
To facilitate this, we will utilise a Multi-Party Computation (MPC) to create shares of the key, and Two-Factor Authentication (2FA) to enhance the security of the key generation process
Q: Why would Multi-Party Computation (MPC) be a great development for Step?
Dmitry's Answer: MPC would allow for greater security. In case of loss, shares can be restored using a recovery mechanism that utilises phone number, email, or biometric information, such as fingerprints or face recognition, to recover the key share and access to a user’s account.
By using MPC and this recovery mechanism, users will not have to store their private keys, which significantly reduces the risk of key loss or theft.
Q: How will a Multi-party Computation (MPC) help FITFI and Step Network, as well as differentiate Step from other chains?
Dmitry's Answer: In combination with MPC smoothening key management for users, we are outlining gasless transactions too. This will make the process for users to interact with web3 even more user-friendly and easy. There will also be utilisation for FITFI.
This added layer of security and accessibility will differentiate Step Network from other chains. This will take away doubts of users on their funds’ safety and will also help users who deem existing wallet solutions too complicated to use. Step Network will be the FIRST blockchain to implement this solution, ranking Step among the most innovative blockchain ecosystems.
Q: What should you expect from Step in 2023?
Dmitry's Answer: The ecosystem is exploring the integration of AI-based key management solutions, such as Natural Language Processing (NLP) to make processes more intuitive as well as to make it easier for users to manage their assets. NLP can also provide users with personalised recommendations, or alert suspicious activity on a user’s account.
At step, we are constantly exploring ways to integrate AI into our ecosystem as we believe that it plays a crucial role in making crypto accessible to the masses. The Step community is constantly expanding and exploring new ways to make crypto more accessible.
Stay tuned for more updates and announcements.
Download Step App
Access assets, marketplace & wallet via the web version
Stay up to date with Step App through our Social Channels