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[onlyprofits]

Buterin says a social recovery wallet is the best option

We are aware that the security problems of different wallets have always been a stone in the shoe in the blockchain, but now there is a new emerging alternative that seems to be the best solution, for Buterin that new type of wallet is based on a contract smart and called a "social recovery wallet."
This type of wallet has a unique "signature key" that can be used for transactions and to add or remove guardians, and can have at least 3 guardians
The advantage is that if you lose the signature key, the recovery function is activated, communicating with your guardians through a website to ask them to sign a special transaction to change the public signing key registered in the contract for a new one.
A bit complicated for me to entrust the recovery to a group of people, but something logical must have, we must be aware of this proposal from Buterin.
What do you think about the social recovery wallet?

 

[Niftyicon]

This may be favourable for some sets of people but like you, it is just too complicated and I am almost certain that people will prefer keeping their regular wallets and securing their private keys.

 

[onlyprofits]

This may be favourable for some sets of people but like you, it is just too complicated and I am almost certain that people will prefer keeping their regular wallets and securing their private keys.

It sounds complicated, but according to Buterin this system is easier to use. So it would be interesting to have more information about this alternative

 

[Wisdom01]

I think it's really not clear because you would need a trusted group to be able to do such things and i think would know be the issue there ,but if they could find ways to solve any upcomming issues then they are good to go

 

[onlyprofits]

I think it's really not clear because you would need a trusted group to be able to do such things and i think would know be the issue there ,but if they could find ways to solve any upcomming issues then they are good to go

I'm not very clear on how it can work either, but the truth is that if Buterin supports this type of portfolio, it is because it must have its advantages over traditional systems.

 

[Wisdom01]

I'm not very clear on how it can work either, but the truth is that if Buterin supports this type of portfolio, it is because it must have its advantages over traditional systems.

I think it might not be an advantage over traditional system , they might just be doing such thing so they could try out new method and ways, i think that might be the reason

 

[Josemendez]

Buterin says a social recovery wallet is the best option

We are aware that the security problems of different wallets have always been a stone in the shoe in the blockchain, but now there is a new emerging alternative that seems to be the best solution, for Buterin that new type of wallet is based on a contract smart and called a "social recovery wallet."
This type of wallet has a unique "signature key" that can be used for transactions and to add or remove guardians, and can have at least 3 guardians
The advantage is that if you lose the signature key, the recovery function is activated, communicating with your guardians through a website to ask them to sign a special transaction to change the public signing key registered in the contract for a new one.
A bit complicated for me to entrust the recovery to a group of people, but something logical must have, we must be aware of this proposal from Buterin.
What do you think about the social recovery wallet?

I don't think that I can adopt anything like this . Decentralization is lost by this ,thus I doubt if it will be really adopted by investors .

 

[Brain]

This must be a new discovery as it is and I think the advantage is really overwhelming which is great. Privacy is one area should be protected at all means

 

[Balint098]

This 'guardianship' feature can be abused by those very same people. Entrusting your hard-earned fund to a bunch of 3rd party people is never a good idea.