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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
by 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 agoSo what’s stopping my friends from stealing all of my money behind my back?
- josephcsible 5y agoYou'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?