1/ We've all heard of the importance of keeping our digital assets safe. But what if you forget or lose your password or private key or god forbid a malicious actor gets ahold of your keys?
This is where social recovery wallets come into play. π
This is where social recovery wallets come into play. π
2/ A social recovery wallet is a relatively new kind of wallet that is much safer than a traditional wallet and when used in parallel with a time locked vault wallet is more secure than a hardware wallet.
It works like this:
It works like this:
3/ When creating your wallet, you can nominate trusted contacts who are willing to help you recover access in the event of an emergency.
These contacts will be required to verify the recovery before it can happen.
These contacts will be required to verify the recovery before it can happen.
4/ This technology leverages existing relationships to drastically decrease the risk of loss of funds.
5/ Bottom line β social recovery wallets offer a secure way to store your digital assets. They're an innovative way to keep your digital wallet secure and are a powerful tool to protect your funds and identity.
6/ That's it for now! Thanks for joining me in this discussion on social recovery. If you're interested in learning more, make sure to check out Vitalik's blog, EIP-4337, and our recent knowledge session with @SolonLabs CTO @Benblute below. #Blockchain #Crypto #Ethereum
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7/ Vitalikβs blog: vitalik.ca
EIP-4337: eips.ethereum.org
Social Recovery deep dive with Ben: youtu.be
EIP-4337: eips.ethereum.org
Social Recovery deep dive with Ben: youtu.be
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