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whats your thoughts about Shamir’s wallet recovery, SLIP39 compliant

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by COINS NEWS 58 Views

What is Shamir’s Secret Sharing scheme?

The mathematician Adi Shamir is most well known for being the S in RSA — the cryptographic protocol used in many internet browsers and messaging apps. In 1977, he devised a scheme to share a secret between several people without revealing any information to any single one of them.

Shamir’s Secret Sharing Scheme, or SSSS, can use any number N of shares (the number of parts that the secret is divided into) and a threshold T (the number of parts necessary to recover the secret). For example, you can have 20 shares and a threshold of 6: in that case, any 6 of the 20 shares will be enough to recover the secret.

What’s more, gathering fewer shares than the threshold gives away no information at all.

This means you can spread shares between locations or people without compromising your secret.

In a regular wallet, there is a single private key, usually presented as 12 or 24 seed words, that unlocks the funds in the wallet.

I just learned about this and i think its great becuse having only one stainless steel card hidden just did not feel great to me, i cant trust the location to anyone so if something happens to me or my memory then the crypto is gone

Looking forward to a conversion about this if anyone is in the mood

submitted by /u/Forestsounds89
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