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RIP seed phrases - the death and future of crypto wallets
The document discusses the vulnerabilities of seed phrases in cryptocurrency wallet security, emphasizing that they can give a false sense of security and are prone to human error and external threats. It outlines the potential future of crypto security through multi-factor authentication, keyless systems, and advanced user protections. The author advocates for improved security measures to reduce the billions lost in theft and accidents related to seed-based wallets.
RIP seed phrases - the death and future of crypto wallets
- 1. 💀 RIP SeedPhrases Security myths and the future of wallet security
- 2. Not your keys Notyour coins
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- 4. People lose theirwallets
- 6. A seed phraseis a set of words that gives you the illusion of security, even in Vegas - Daniel Ocean
- 7. ● A single-factorsystem ● Mobile or hardware, security depends on it ● You have to “keep it somewhere safe” Seed phrases are vulnerable
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- 15. Because the *out-of-wallet*back up
- 16. I forgot mypassword Phishing Lost my seed Forgot to back-up Wiped my computer Kids threw it Software leaked it
- 17. The “future ofcrypto security”
- 18. The “future ofcrypto security”
- 19. The “future ofcrypto security”
- 20. The “future ofcrypto security”
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- 23. Seed-based wallets are likecars without breaks, seatbelts, airbags and crash detection
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- 26. The future ofcrypto security: Multi-factor Custodial Single-Factor Multi-factor
- 27. The future ofcrypto security: Keyless Shamir Secret Multi-Sig Smart-Contract + AA Multi-Party Computation Seed phrases
- 28. The future ofcrypto security: Recovery TOTP Password-less Secure Biometrics Passwords / Pin
- 29. MPC Wallets ᐩ Simpleonboarding ᐩ Math first. Software first. ᐩ Multi-factor authentication by default ᐩ No add-ons ᐩ Assisted + protected ᐩ User is in control ᐩ Built-in transaction protections The future of crypto security: MPC Seed Phrases ᐩ Complex onboarding ᐩ Tedious recovery ᐩ Single-factor backup ᐩ Weak authentication ᐩ Buy Hardware / Steel Plate / Vault ᐩ User is alone ᐩ $ Billions lost / stolen
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