P2P Social Recovery System for secure backup/recovery of your secrets without engagement of any centralised infrastrcuture (equally scalable to Web3 Wallets, Web2 Authenticators or Password Manager)
An end-to-end application that shards your private key/secrets into multiple parts and sends it across to trusted human social accounts- Guardians.
Salient features include:
Collusion resistance: This ensures that the shard-recievers (Guardians) don't generate user's private key without the permission/knowledge of the users.
Implementation of modified Shamir secret algorithm(n,t): Shamir Secret algorithm forms the core of our system's logic.
Providing a secure backup option as there is no single point of failure: Storing a private key in a single place, makes it very vulnerable to attacks. Sharding a private key and storing it in multiple places is a much more secure way to backup.
Adding decentralised push and P2P communication methods such as PUSH (EPNS) enhances native adoption.
Use-cases:- a) The two-factor Authenticator (2FA) apps currently in the market do not allow the user to reclaim the accounts if their account/phone/application is lost. Our library will enable such authenticator app to securely reclaim a 2FA-enabled account / Keys if the user loses her phone.
b) With the introduction of Account Abstraction (EIP-2938), social recovery will go mainstream and the proposed library and approach can help developers in informaed transition.