Hi. Ethereum co-founder Vitalik Buterin recently considered multi-signature and social recovery wallets a safe way to store funds and a safe way to not expose our personal data but there is still some considerable risk that I will touch on in this post.
The famous ethereum developer shared a strategy for choosing custodians in multisig wallets in a recent post on his reddit social account where he stresses the importance of choosing trustworthy custodians to minimize the risk of losing keys or being a victim of theft.
If you do not know that they are the guardians, these are addresses with access to the private keys of a wallet and capable of signing transactions in it, which is enough with the signature of a single one of these addresses to execute a specific action, it can be said that the multisignatures a certain number of addresses are required for approval.
I don't quite understand this part as Buterin suggests choosing guardians who don't know each other and don't talk often. where he claims that this is a simple tactic which will minimize the possibility of the guardians agreeing to steal the funds.
It also suggests having enough guardians to recover funds if a user were to disappear as an additional security measure, these guardians will have to answer a security question before they can make a transaction, keep in mind that this security question with your answer they just have to be possessed by the duel of the wallet and its guardian.
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What Buterin is looking for is that people, better said, users, can keep their funds safe, because on many occasions we tend to lose our private key and if we share this information with a guard, we would be recovering our funds since the guard would give us the key to regain access. back to our wallet.
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