FC poll: how big of a role do MPC wallets play in next wave of adoption?

shadowy super coder. Banner is Solvency #486                                                                   Currently: Metamask Portfolio

i've got a question about MPCs that quick googling couldn't answer: if both i and the service i use have a "secret share", can the service "recover" my wallet without my knowledge and transfer all funds away?

cto @ bwl.gg (lunchbreak.com), 80M+ users (bdut.ch) 🙏 built @remindme, @mintit, @gpt, @healthbot, farcantasy.xyz

Founder bunkyr.com | Building web3 recovery | Killing seed phrases | 🍊

is there a cryptographic mechanism that prevents you from recovering a user's keys without the user's consent?

we are doing a form of MPC at Bunkyr and we position ourselves as recovery only. So users still have their copy of primary keys for everyday use (service provider can't block anything), but if they lose their copy then we can help them get it back.

Used to make BMWs drive themselves. Now, I make web3 easier at Fr0ntierX

but wouldn't 2 out of 2 scheme defeat the MPC purpose completely because if you lose your secret share the funds are locked?

also if it's 2 out of 2 scheme and the wallet provider for some reason decides to lock you out of the funds — e.g. sanctions — would they be able to do so?

if yes, how is it different from traditional banking?

not criticizing, i'm really curious (and somewhat ignorant)

In an MPC scheme you have to define how many shares are enough yo sign a transaction. In a 2 out of 2 scheme the service cannot do this.