NEAR Protocol's Blockchain Operating System (BOS) was introduced to bridge the gap between Web2 and Web3, creating a more open web experience. Within BOS, a significant feature called FastAuth aims to simplify user onboarding into the Web3 ecosystem. This feature enables users to swiftly create accounts for applications integrated with BOS, using familiar methods like email addresses, phone prompts, and biometrics. Its primary goal is to provide a seamless onboarding process while eliminating the complexities associated with seed phrases and third-party applications.
FastAuth incorporates decentralized email recovery through "Multi-Party Computation," ensuring a secure and user-friendly account recovery process. This addresses the challenges of onboarding new users to Web3, offering a quick, easy, and decentralized solution. Furthermore, FastAuth eliminates the need to download third-party apps, instantly making the open web accessible to all and promoting mainstream adoption. Crucially, users can create Web3 accounts without the necessity of holding or acquiring crypto, thanks to NEAR's Zero Balance Accounts and Meta Transactions. This feature benefits developers, enterprises, and end users alike, streamlining onboarding, facilitating crypto integration for businesses, and enabling swift user-owned account setup in seconds.