Passport Prime offers the optional and interesting backup scheme
called Magic Backup that involves NFC cards. It doesn't store on cards the whole SEED. In fact the given SEED is split into three SSS-parts two of which are separately stored on individual cards while the third, encrypted part is stored on mobile with installed Envoy app:
Good point. I agree that Magic Backup provides greater convenience without sacrificing security using the Shamir SLIP-39 protocol, as long as it's an alternative backup option, as I still feel safer by annotating the backup seed phrases.
From what I understand, Prime's default for wallets will be SLIP-39, I hope BIP-39 continues to be supported, as I personally don't use SLIP-39.
The great advantage of Prime is that it comes with 3 NFC backup KeyCards, reducing the cost of an alternative backup for the user.
During the Passport Prime backup process, the backup includes not only the seed phrase, but also the app metadata (labels, etc.), 2FA credentials, and encrypted files. So, what is the capacity of each of these Backup KeyCards?
We’ve seen how Magic Backups in Envoy make recovering your mobile wallet effortless, with your seed secured by your device, backed up to your cloud and your settings backed up as an encrypted file.
Passport Prime takes that to a whole new level, as a personal security platform, it protects not only Bitcoin, but also 2FA credentials, encrypted files, security keys, extra seeds and more.
Magic Backups work differently here, and it’s important to note:
🔁 Passport Prime and Envoy each have their own separate Magic Backups.
Envoy Magic Backup secures your mobile wallet seed and app data.
Prime Magic Backup securely stores your Passport Prime app data and part of your Master key.
These are two distinct encrypted files, stored on the Foundation server.