Social Recovery Wallet

The problem of crypto wallets. Traditional wallets for storing cryptocurrencies require a responsible process of their creation. We need to write down a phrase of 12/24 words without errors and safely store the seed phrase, otherwise we will simply lose access to the wallet where the cryptoassets are stored. All these…

Recently, I learned that Jordan Belfort had $300,000 stolen from his Metamask crypto-wallet and he advises you to keep your funds on hardware wallets, and I realized that I didn’t want to lose my $200 in Ethereum and bought a Ledger Nano S Plus. Why do you need a hardware/cold…

Blockchains guarantee autonomy and security, but lack privacy, cooperation, and recovery methods. Mixers, multisig, and Schnorr signature solve these problems. — Although blockchains grant the freedom to anyone to participate and allow for secure transactions, they compromise privacy, do not allow for users to collaborate via shared accounts, and provide no means for beneficiaries to recover funds.

Polkadot js Plus tries to bring new common and essential features for the Dotsama community, and make them accessible as easy as possible. Our latest added feature is account “Social Recovery”. …

Key Takeaways: Losing/forgetting your Web3 wallet credentials can be catastrophic, as recovery mechanisms aren’t as user-focused yet. Using Social Recovery, crypto wallets can be easily recovered or reset by delegating a set of trusted guardians who can help you regain access. SBTs ensure that these wallet holders as well as…