How does the Sequence Wallet function?

A wallet on the Sequence platform is deployed as an Ethereum smart contract. Smart contracts can be programmed arbitrarily, which is not the case for traditional Ethereum accounts. Using a smart contract wallet allows an account to be programmed with additional security properties and features traditional wallets can’t offer. The smart contract wallet will hold users’ assets instead of users having their assets directly accessed by their private key. 

One example of these benefits is that the issue of account recovery—a persistent problem for wallets—is solved using this multi-signature design. Indeed, a Sequence smart wallet can be controlled by multiple keys instead of a single one. This is possible because the assets are held by the smart contract itself; whereas, with traditional wallets, assets are held by a single private key. With Sequence, private keys can be added, replaced or removed. This multi-key design, also known as multisignature, adds security and flexibility, as you need a quorum of keys to perform any transaction with the smart contract wallet.

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