Author: Contact Team 2020-02-26 13:02:20
Published on: 2020-02-26T13:02:20+00:00
Seed phrase security has been a longstanding topic of discussion with varying opinions and conflicting security models used by different individuals. The traditional practice of using paper or metal engraving options to secure seed phrases still suffer from being a single point of failure in terms of secure storage. Hardware wallets, even those that use a secure element, can be hacked through basic glitching or state-enforced backdoors. Cypherock X1 Wallet is working on a solution to remove this single point of failure by splitting the seed phrase into four different shares using 2 of 4 Shamir Secret Sharing (with customizable threshold limit) which are then stored in hardware enforced PIN cards with an EAL 6+ secure element. The user would need any 2 of these 4 cyCards to recover the seed or make a transaction, and ideally, they should all be stored at different locations to add distribution security against losing the seed phrase. This decouples storage and computation aspect of a hardware wallet, and more information can be obtained from cypherock.com. Feedback from the community is welcomed.
Updated on: 2023-06-13T23:45:05.044879+00:00