Quote from: RickDeckard on May 09, 2024, 05:44:50 PM

Quote from: Charles-Tim on May 09, 2024, 05:29:33 PM

Someone can wear it like a ring. It looks like a ring but I think it would be very dangerous for someone to wear a wallet to everywhere he is going to. I will prefer to keep my wallet secure somewhere at home for privacy reasons.

This is my main grip (amongst others) with "wearable" cold wallet devices - once it gets mass marketed and known to the general audience, the user will have a mark on his/her back from ill intended individuals. I easily see users of the device being victims of the famous $5 wrench attack.

Quote from: Christian_RW on May 09, 2024, 04:58:07 PM

We're not just revolutionising the form factor - we've completely redesigned the way you backup your wallet. Ace Cards use Shamir's Secret to allow you to safely recover your wallet, without ever writing down your seed phrase. Each ring comes with 4 Ace Cards, but you can order more if you want in packs of 4,8 or 12. If you lose a card, you're still safe, as each individual card does not contain enough information for recovery.

Since the devices comes already wtih 4 Ace Cards, it is my understanding that the user doesn't generate a new wallet (as opposed to hardware wallets) and instead the ring comes already "configured" with the seed phase that comes within the 4 Ace Cards using Shamir's Secret correct? If so, how can the user be sure that the whole process of generating the keys was safe?

Just to clarify - the Ace Cards or RingWallet don't come preconfigured. This is the setup flow for the RingWallet and it's AceCards:
1. Install RingWallet App
2. Bring RingWallet next to phone for initialisation and wallet generation.
3. Choose if you wish to use Ace Cards (using Shamir's Secret Sharing) for backup, or write down your seed phrase.
4. If you choose Ace Cards, the app then prompts you to bring each card next to the phone so that it can record the appropriate data.

For more info about how Shamir's Secret Sharing works, this is a pretty simple to understand article https://medium.com/@keylesstech/a-beginners-guide-to-shamir-s-secret-sharing-e864efbf3648.

Christian_RW

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