Medusa Wallet –A Multifunctional Light-Wallet

Graphics by Amanda @aelizaey

Medusa AdaWallet is a free community-driven project of a light wallet combining the best features of other existing offerings. The wallet bolsters its well-researched and powerful security model. This new version is seeking to remedy the major security issues ignored by most web developers such as storing keys and sensitive data in public storage, failure to encrypt private keys, asking users to type their mnemonic for each session among others

Medusa 2.0 does not have any of these issues even at the MVP stage as a lot of work has been put into its development including research, engineering, mechanics and writing libraries.

The Medusa AdaWallet is different because of various security features that have already been implemented:

  • Medusa doesn’t store and operate keys within the main browser thread – unmanaged 3rd party code is not able to reach them
  • Medusa does not send or store any unhashed / unencrypted data
  • Medusa does not perform unnecessary loading of encrypted keys
  • Medusa uses its own network-security layer to transfer user data so it data can’t be read by anyone else
  • Passwordless “2FA” based login system designed in strict accordance with RFC 4226 requirements
  • There are no unmanaged code-dependencies
  • 100% anonymous. Medusa does not collect any user-related data. No email, phone or password needed. 
  • There are no analytics scripts.

However, the wallet needs to add more features to set it apart from the rest and is, therefore, seeking more funding to make this a reality. The security features that will be added include sessions’ management, ledger integration, OTP-keys re-generation and optional 2FA-based approving for transactions.

Users can experiment with the already working version of the product which is running on the Cardano testnet network. The wallet is, however, still in development and available for testnet only.

The Medusa Team

Medusa has a little team with the main developer, artists and testers. The project was proposed by a member by the name Fell-x27 who identifies as a developer and stakepool operator. They have been a member of Project Catalyst since Sept. 16, 2021 and have contributed to other ideas as well. Fell-x27 has 4 years’ experience of development for the Cardano ecosystem and holds computer science and digital science degrees.

This is yet another proposal from the Medusa team as they continue to develop the wallet. They had another proposal in Fund 4 seeking funds to accelerate massive upgrades to the Medusa wallet.

Requested Budget

Since this is in the Fund 6 phase, the hardest part of the project, which involves research, has been completed. There is already a product that users can interact with on Cardano’s network. Therefore, the team is seeking funding in the amount of $30,000. This amount will be distributed as follows:

  1. $24k for the developer salary (2k per month for a year) 
  2. Up to $3k for a security audit
  3. $3k for 3rd party services like translations, art, and server rental.

This amount will allow the implementation of community requests as well as the security features stated. Therefore, the users of the old Medusa wallet can be in a position to use the new wallet, not just test it. 

Final Thoughts

MedusaAdaWallet 2.0 has a product in Cardano’s testnet network where interested users can interact and offer their reviews. The platform has a unique, deep-researched security model seeking to offer what most of the other projects have ignored. Medusa was the first ITN-compatible public wallet and was released before popular Cardano wallets like Yoroi and Daedalus. As a free of charge community-driven project, it combines the best features of other existing offerings. 

It would be advisable for members interested in funding the future of Medusa 2.0 to use the available testnet and experience its worth so they can decide on the amount worth investing in this redesign. It is also important to note that the small team has made huge efforts to ensure the product is in its current state for the use of the community. 

If you’d like to know more information or have questions/comments regarding the Medusa proposal, check out the link provided:

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