embeddedwallets

1/ Launching cloud-based recovery

We are continuously unfogging the map to improve the UX of self-custody. 

Secure embedded wallet recovery shares with your own Cloud.

Excited for this launch and a major unlock to future proof embedded wallets!

Data privacy on the web. Keeper of the fabric @privy.

Fmr Protocol Labs consensus work. Before that YC S14 🇫🇷🌐🍊

2/ When wallets are created, we split the private key into three shares. 2/3 are needed to use the wallet.

📱 Device share
🔒 Auth share (Privy stored)
🤝 Recovery share (e2ee, only accessible to the user)

Users need to recovery share to access the wallet on a new device.

4/ Today's launch gives power users a simpler way to secure wallets, starting with Google.

💪 Stronger entropy than manual pws
🧠 No need to remember anything

Users get more control than automatic recovery, and better UX than setting a password. A rare security + UX win/win!

5/ It's 🧈 - check it out for yourself at http://demo.privy.io today!

Our work to improve the UX of self-custody is never over. A lot more to come (not least as passkeys mature and EIP-3074 goes live).

Learn more about why we're so excited👇

5/ It's 🧈 - check it out for yourself at http://demo.privy.io today!

Our work to improve the UX of self-custody is never over. A lot more to come (not least as passkeys mature and EIP-3074 goes live).

Learn more about why we're so excited👇

https://www.privy.io/blog/cloud-based-wallet-recovery-launch

3/ To-date we've offered two options to secure the recovery share:

1️⃣ Automatic: Secured with entropy only the user can access, managed by remote infra

2️⃣ Pw-based: Power users create a password, giving more control but need the pw to provision new devices