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nix
@nix
MPC-TSS seems fundamentally broken. The user's backup shard: - Is either in the hands of the provider, giving them custody (2/3). - Or requires the user to securely store an encryption key, essentially providing the same experience as a seed phrase. Every embedded wallet seems to use this approach. What am I missing?
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Harry Noble
@harry
Check out the demo for Coinbase’s new smart wallet. You get the upside of an embedded experience (no apps to install, instant creation) and it’s all tied to your passkey, fully self sovereign and portable, no complex mpc setups to think through. keys.coinbase.com/developers
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nix
@nix
This is very nice! I do think passkeys are the best way to do embedded wallets. Is the passkey is used to encrypt the actual ECDSA signer key hosted by Coinbase? How can I protect against Coinbase losing or censoring the actual key?
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Harry Noble
@harry
The passkey is the actual key. Coinbase doesn’t hold anything. The passkey signature is validated by a contract directly onchain.
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asadox.sol
@asadox
Does it scale well across multiple devices/OS?
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Harry Noble
@harry
Depends on what passkey solution you use. Apple has a great experience, syncs across any device you have your Apple ID on. Something like yubikey or 1Password will be cross OS, but requires additional hardware/software. Passkey ux is still early, I expect it’ll improve rapidly.
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asadox.sol
@asadox
Agreed completely. Apple has been doing the hardwork on making cross-device UX seamless. From a mass adoption standpoint atleast for India as a region would suffer from having passkey dependent wallets
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