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Even with multisig, each individual key holder has to manage their device, and the steel backup for that device. And there exists possibility of collusion betwe
by MaxwellKahn 3y ago
Even with multisig, each individual key holder has to manage their device, and the steel backup for that device. And there exists possibility of collusion between n of m of the multi sig holders against the other holders. Seems like it would still keep me up at night (though with SVB, standard bank accounts are starting to look shaky too).
Having not worked for a crypto company, curious what the standard best practices are for securing the "keys to the kingdom" (literally).
- csomar 3y agoThere is no collusion, that’s the point of multi-sig, it’s akin to voting powers. You can use multisig yourself too: ie you can use a key you remember, or the one in your safe. Along with a key in your phone. So two out of three. If someone gets the key in your safe, he can’t access your coins (he’ll need your phone too).
- DannyBee 3y agoThere is collusion, of exactly the form described. Just because the collusion happens through voting doesn't make it not collusion.
- dustymcp 3y agoeven the laser etcher is a problem :)
- MaxwellKahn 3y agoI was super paranoid, and bought one of these metal stamping tools(https://www.amazon.com/gp/product/B07ZFB5J15 https://www.amazon.com/gp/product/B07ZFB5J15), and made my condo neighbors angry for one evening :) but hey, completely airgapped!