4 ms·

>> I think the killer app for web3 is going to be a decentralized, open identity/auth solution. How would account recovery / password reset work in a web3-base

>> I think the killer app for web3 is going to be a decentralized, open identity/auth solution. How would account recovery / password reset work in a web3-based system? With Google, Apple, etc. there is a party that one can go to for account recovery. How would it work for web3 if it is decentralized?

ramijames 5y ago
This is a really big problem that we spent a long time solving. The fact that if you lose your private key you lose your account and its associated identity and assets is a big deal. We have a recovery mechanism that allows you to set and manage secondary authenticators which are used as witnesses in the case of loss of access to your primary account. Another working group that I'm involved in is trying to solve this problem in a tangentially similar way using multi-signatures. It's an interesting approach.
- aardvarkr 5y ago
  So what’s stopping my friends from stealing all of my money behind my back?
  - josephcsible 5y ago
    You're worried that a bunch of your most trusted friends, who you can even choose a subset of such that they don't know each other and have no connection other than you, will conspire to betray you in a provable way? Isn't that strictly less risk than giving a spare house key to a trusted friend or neighbor, which people do all the time?
dopidopHN 5y ago
Can’t à shared signed key algo be used ? Ala Shamir Shared secret algorithm? If 2 out of the 5 keys ( or whatever value ) are present you can log in.
yokem55 5y ago
There are multisig social recovery wallets where one party or a group of parties is trusted to help you get regain access to the account with a new signing key. Gnosis lets you do this with arbitrary friends of your choosing. Or if you're like most crypto folks and have no friends, something like Argent can handle this for you with email/phone number authentication after a delay (a few days).
- aardvarkr 5y ago
  So what’s stopping my friends from stealing all of my money behind my back?
  - yokem55 5y ago
    Social recovery with friends usually needs something like 3 of 5 or more to effectuate a recovery. So your friends would have to effectively collude with each other without any of them tipping you off about the plan.

ramijames 5y ago

This is a really big problem that we spent a long time solving. The fact that if you lose your private key you lose your account and its associated identity and assets is a big deal. We have a recovery mechanism that allows you to set and manage secondary authenticators which are used as witnesses in the case of loss of access to your primary account. Another working group that I'm involved in is trying to solve this problem in a tangentially similar way using multi-signatures. It's an interesting approach.

aardvarkr 5y ago
So what’s stopping my friends from stealing all of my money behind my back?
- josephcsible 5y ago
  You're worried that a bunch of your most trusted friends, who you can even choose a subset of such that they don't know each other and have no connection other than you, will conspire to betray you in a provable way? Isn't that strictly less risk than giving a spare house key to a trusted friend or neighbor, which people do all the time?

dopidopHN 5y ago

Can’t à shared signed key algo be used ? Ala Shamir Shared secret algorithm? If 2 out of the 5 keys ( or whatever value ) are present you can log in.

yokem55 5y ago

There are multisig social recovery wallets where one party or a group of parties is trusted to help you get regain access to the account with a new signing key. Gnosis lets you do this with arbitrary friends of your choosing. Or if you're like most crypto folks and have no friends, something like Argent can handle this for you with email/phone number authentication after a delay (a few days).

aardvarkr 5y ago
So what’s stopping my friends from stealing all of my money behind my back?
- yokem55 5y ago
  Social recovery with friends usually needs something like 3 of 5 or more to effectuate a recovery. So your friends would have to effectively collude with each other without any of them tipping you off about the plan.