An option you could consider is ZenGo
Zengo is the first wallet based on threshold cryptography. ZenGo eliminated the need for a private key while still remaining non-custodial.
Zengo is the first wallet based on threshold cryptography. ZenGo eliminated the need for a private key while still remaining non-custodial.
What the hell is this approach...
That's even worse than a web wallet.
Quote from: https://zengo.com/security/
With no single point of failure
So many points of failure..
Quote from: https://zengo.com/security/
Backing up your wallet is just as simple. An encrypted copy of your device share is stored on the ZenGo server, and the decryption code is stored separately in your personal iCloud account. Only with your 3D biometric face map can you access the encrypted share.
I really can't believe what i am reading here..
So.. both of the 2 necessary secrets are on your server.
The decryption key is also stored online.
And oh.. i forgot.. the bio-metric features of a mobile phone are sooo secure.
You guys realize that most of them can be circumvented by holding a printed image in front of the camera ?
I would NOT recommend to use that wallet. The whole concept is flawed.
The necessary secrets are split between the users device and ZenGos servers. Its not correct that both are stored on the server. If either the server or the device is hacked or lost, the funds remain secure. I'll say this again, even if someone hacked ZenGos server, the user would stay protected. There is no single point of failure.
The biometrics are based on ZoOm technology. Its extremely secure. A printed picture is completely ineffective as it fails to pass the liveness. Even 3D masks are ineffective.