Not add any friends to recover your private key, similar to current decentralized wallets. You must securely store your private key, as no one can help you recover it if lost.
Use account recovery (ERC-4337) by selecting trusted contacts during account creation, who participate in the recovery process
Your idea will be more convincing to us if you are talking about a deposit to a multi-signature wallet address. You choose the trusted parties so that you have the option that these parties be:
- 2-of-3
- 3-of-5
- 3-of-7
- 5-of-7
- 4-of-9
- 5-of-9
More or less thus giving a dynamic to the user, the only problem is ensuring how securely those private keys will be generated without a third party sharing them.
As for the idea of smart contracts and with all the bad reputation of bridges, I advise you to stay away from them, although I do not see how the privacy of users will be enhanced through them.
I appreciate your input on this topic. ERC-4337, also known as the Social Recovery Wallet, does share some similarities with multi-signature wallet solutions, but it offers a more user-friendly approach. In a multi-signature setup, users need to manage multiple private keys and coordinate with multiple parties to sign transactions. While this does provide a level of security, it can be cumbersome and less convenient for users.
ERC-4337, on the other hand, allows users to designate a set of "guardians" who can help recover access to their wallet in case they lose their private key. These guardians can be friends, family members, or trusted third parties. The user sets a threshold number of guardians that need to approve the recovery process. This way, the user doesn't need to manage multiple private keys, making the process more user-friendly.
As for smart contracts and bridges, I understand your concerns about their reputation. However, it's essential to note that not all smart contracts and bridges are inherently risky. As the technology evolves, new solutions are being developed to address these concerns and enhance the overall security and privacy of the blockchain ecosystem. TEX aims to leverage the best practices and the latest advancements in technology to provide a secure and transparent trading experience for users.
The ERC-4337 social recovery wallet is a security solution proposed by many cryptography experts, including Ethereum co-founder Vitalik Buterin. This solution aims to provide users with a more user-friendly wallet recovery experience while maintaining a high level of security.
Maybe you can to further research the ERC-4337 social recovery wallet and related security solutions to understand the potential of these technologies in enhancing user experience and security.