What’s new in Dune ? Part 1: Recovery Accounts

The last upgrade of the protocol happened one month ago, and everybody already wonders what’s coming next… Here is a short description of some new features that appeared in the next branch of Dune, and will be available after the next upgrade !

Use a Recovery Account to Safeguard your Account

Most crypto owners have two fears: having their secret key stolen by a hacker who would transfer the tokens to his account, or losing the secret key and being unable to access the tokens anymore.

Dune already provides a way to protect against hackers, using the admin account and the white_list parameter to limit where tokens can be transferred.

Last month, we added the new recovery account parameter. Its goal: protecting your tokens against a loss of your secret key!

To use it, you just need to generate a new secret key (for example, using a hardware wallet), and store it on cold storage (in your bank safe, for example). Now, use the key hash to set the recovery account parameter of all your accounts, using a Manage_acccount operation.

At this point, if you lose your secret key, you can take the recovery account secret key from the cold storage, and use any wallet to send 0.000_002 DUN (2 muDUN) from your recovery account to your lost account. All your tokens will be immediately transferred from your lost account to your recovery account!

Note that you can test the recovery feature by transferring just 1 muDUN from your recovery account to the account, it should be transferred back immediately, so that the balance of your recovery account should not change (except for fees).

Stay Duned!

We hope this new feature will make it safer for all to use the public Dune Network. In a next post, we will focus a bit on some features that we added for Private Chains based on Dune. If you can’t wait, check the documentation !

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