When to use Shamir's Secret Sharing to store your crypto

To boost the security of their crypto wallets, some hodlers use multi-signature wallets. These wallets require signatures from several people or devices to authorize transactions. While this can be very useful to spread the responsibility of holding bitcoins between people, for example in a corporate context, it is not always practical for a single user. On top of that, multi-sig is typically a Bitcoin primitive and may not be available on other blockchains.

In this article, we explore an alternative strategy using Shamir’s Secret Sharing Scheme, which also increases security but may be more suitable for individual hodlers.

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