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Henri Stern κͺ
@henri
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!
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Henri Stern κͺ
@henri
2/ When wallets are created, we split the private key into three shares. 2/3 are needed to use the wallet. π± Device share π Auth share (Privy stored) π€ Recovery share (e2ee, only accessible to the user) Users need to recovery share to access the wallet on a new device.
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Henri Stern κͺ
@henri
3/ To-date we've offered two options to secure the recovery share: 1οΈβ£ Automatic: Secured with entropy only the user can access, managed by remote infra 2οΈβ£ Pw-based: Power users create a password, giving more control but need the pw to provision new devices
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Henri Stern κͺ
@henri
4/ Today's launch gives power users a simpler way to secure wallets, starting with Google. πͺ Stronger entropy than manual pws π§ 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!
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Henri Stern κͺ
@henri
5/ It's π§ - 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 excitedπ https://www.privy.io/blog/cloud-based-wallet-recovery-launch
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seanwbren.ethπ©πΉ
@seanwbren
butter! π§ what are the drawbacks with option 1 with user entropy? that Google login is more familiar/trusted?
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Henri Stern κͺ
@henri
If you lose your password AND device, you canβt recover your account. Google means you donβt have to remember your pw, just need access to your account. Automatic remains the best UX but it places trust in Privy infra.
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