Author: Jeremy 2020-02-26 19:56:09
Published on: 2020-02-26T19:56:09+00:00
The discussion around seed phrase security has been ongoing for some time, with varying opinions and security models being used by individuals. While paper or metal engraving options are commonly used to secure seed phrases, they act as a single point of failure when it comes to secure storage. Hardware wallets, even those using a secure element, can still be vulnerable to hacking. One potential solution is the Cypherock X1 Wallet, which uses Shamir Secret Sharing to split the seed phrase into four different shares, each stored in a PIN-protected card with a secure element. Any two of these four cards are needed to recover the seed or make a transaction, making the loss of the seed phrase highly improbable. The storage and computation aspects of this hardware wallet are decoupled, providing added security through distribution. However, Shamir's shares have the issue that the key does exist plaintext on a device at some point. Non-interactive multisig provides an alternative benefit by allowing transactions to be signed without having keys in the same room/place/device ever. Feedback from the community is welcomed regarding the Cypherock X1 Wallet.
Updated on: 2023-06-13T23:44:25.711826+00:00