A while ago, I was telling my friend that as I was reading the Bitcoin whitepaper, I was amazed that a single person, operating under the pseudonym Satoshi Nakamoto, along with a group of individuals deeply committed to the belief that currency could be decentralized, had come together. What they accomplished was done selflessly, especially in the aftermath of the 2008 financial crisis.
They went on to create what they wished to, a new form of currency.
While it is not being "used" as a currency, it is certainly a store of value - an investment. Digital gold.
Going on with this thought, I started to think about how from the original creators to the people like us who possess crypto, do not have any way to pass this on to the next generation.
Over this, imagine the scenario where maybe the original team just passed away. All the crypto that Satoshi had was just left there. What if they wanted to pass it on? But giving the seed phrase to people is not a good idea. Storing the seed phrase in a bank? Eh, not a good idea. Why not have it all on the blockchain?
There was no solution to this. So I created one.
I quickly made up a smart contract in an hour for the fastest blockchain that I knew of, Solana. In the meantime, I also received a grant of $3000 from the Solana Foundation as they thought my idea was cool.
Eternal Key
In 6 clicks, you can set up a beneficiary for your crypto that is based on a Solana smart contract. You can add a custom timer, so that the beneficiary can only access the crypto after a certain period. You can also change the timer if you feel that your time isn't up yet. Apart from fatal reasons, just use it as a way to pass on your crypto as a gift. The code and the smart contract is open source and available on Github.
First, you just connect your wallet. Easy.
Second, you add the beneficiary's wallet address.
Third, you add the amount of crypto you want to leave for them.
Fourth, you set the timer.
Fifth, you review and confirm.
Sixth, you wait for the timer to finish.
And that's it.
You can also change the beneficiary, the amount, and the timer if you want to. The smart contract was written in Rust, it was something.
I tried to reach out to potential users, and they all loved it. But they were not a potential demographic for this, since they were all young.
In the future, if you see this, I hope you like it.
Currently, it is deployed on devnet so that you can test it all you want before committing to it.
If you do wish to use it on mainnet, please let me know.
I would love to hear from you, and put everything on the mainnet asap.