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💀 RIP Seed Phrases
Security myths and the future of wallet security
Not your keys
Not your coins
Your keys
Your problems
People lose their wallets
A seed phrase is a set of words that gives
you the illusion of security, even in Vegas
- Daniel Ocean
● A single-factor system
● Mobile or hardware, security depends on it
● You have to “keep it somewhere safe”
Seed phrases are vulnerable
Seed Phrase Wallets
First some.. magic
Why?
Because humans are 🤪
Because the *out-of-wallet* back up
I forgot my password
Phishing
Lost my seed
Forgot to back-up
Wiped my computer
Kids threw it
Software leaked it
The “future of crypto security”
The “future of crypto security”
The “future of crypto security”
The “future of crypto security”
$100,000,000,000
Seed-based wallets are
like cars without breaks,
seatbelts, airbags and
crash detection
So what then?
The future of crypto security: Multi-factor
Custodial Single-Factor Multi-factor
The future of crypto security: Keyless
Shamir Secret
Multi-Sig
Smart-Contract + AA
Multi-Party Computation
Seed phrases
The future of crypto security: Recovery
TOTP
Password-less
Secure Biometrics
Passwords / Pin
MPC Wallets
ᐩ Simple onboarding
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
800,000+
0
www.zengo.com

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RIP seed phrases - the death and future of crypto wallets