Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»ALTCOIN NEWS»Ethereum Founder Vitalik Buterin Says ‘Decentralize Security’ – Why?
ALTCOIN NEWS

Ethereum Founder Vitalik Buterin Says ‘Decentralize Security’ – Why?

By Crypto FlexsMay 1, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Ethereum Founder Vitalik Buterin Says ‘Decentralize Security’ – Why?
Share
Facebook Twitter LinkedIn Pinterest Email
  • Vitalik Buterin proposes “multi-signature” to solve the seed phrase problem in hardware wallets.
  • Shamir is another alternative for storing seed phrases, but Buterin ignored it.

Self-custodial wallets, especially hardware wallets, have grown in popularity as third-party risks have become apparent, as in the case of the FTX collapse.

Crypto Twitter clearly reminds users of these risks through prominent wording.

“Not your keys, not your cryptocurrency.”

However, users may be the biggest risk with hardware wallets. They could easily forget their stash of seeds, or worse, have them stolen.

Ethereum founder Buterin proposes “multi-sig” to address wallet risk.

but Ethereum (ETH) Vitalik Buterin proposed a solution to this hardware wallet problem and commented:

“The above is why I use multi-signature (secure) for over 90% of my personal funds. M-of-N, you hold some of the keys (not enough to block recovery), but others you trust hold the rest. Don’t reveal who others are, not even to each other. Decentralize security.”

“Multi-signature” means having multiple signers on a wallet to reduce single points of failure.

Alternatively, you can use Shamir backups, which typically split the recovery seed phrase into multiple pieces (shared) across multiple devices.

However, Buterin downplayed Shamir’s effectiveness and claimed:

“It’s much easier to screw up than multiple signatures.”

Vitalik weighed in on “multi-signature,” emphasizing:

“It depends on who holds Shamir’s shares! The question I think is: (i) “Trust your other devices” vs “Trust your friends” (ii) Shamir v. Multi-Signature; “They are orthogonal.”

that much market The hardware wallet market size is expected to grow from USD 350 million in 2024 to USD 1.56 billion in 2029.

While the above challenges are likely to drive growth, Shamir or “multi-signature” could be a possible solution based on the risk profile of users.

Next: Why Ethereum Price Could Soar to $2,500 in the Next 7 Days

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

2025 Best Free Cloud Mining

June 6, 2025

Analyst Michaël Van de Poppe says Bitcoin is getting higher.

June 6, 2025

Bittensor increases rapidly after 118 subnets in the $ 1,000 TAO price guess.

June 6, 2025
Add A Comment

Comments are closed.

Recent Posts

Vortex uses NVIDIA Jetson to innovate medical imaging with CT-similar ultrasound.

June 6, 2025

2025 Best Free Cloud Mining

June 6, 2025

Sei Development Foundation: Use of US Innovation for Global Block Chain

June 6, 2025

Analyst Michaël Van de Poppe says Bitcoin is getting higher.

June 6, 2025

Does Ethereum start their business? MorningStar Candlestick Pattern tells the story

June 6, 2025

Solana’s Journey: Promotion of Challenge, Innovation and Speed

June 6, 2025

Ether Leeum’s imminent brake out in major chart patterns

June 6, 2025

Bittensor increases rapidly after 118 subnets in the $ 1,000 TAO price guess.

June 6, 2025

Bitcoin’s $ 100k drop in caught many merchants for many merchants.

June 6, 2025

As the ETF rises, Bitcoin Eye Major Rally -but this can ruin the party.

June 6, 2025

Secure the Treasury in the BNB chain and launch VANECK

June 6, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Vortex uses NVIDIA Jetson to innovate medical imaging with CT-similar ultrasound.

June 6, 2025

2025 Best Free Cloud Mining

June 6, 2025

Sei Development Foundation: Use of US Innovation for Global Block Chain

June 6, 2025
Most Popular

Solana (SOL) price rise shows that Ethereum (ETH) is a serious competitor.

December 28, 2023

Crisis-hit Binance founder Changpeng Zhao launches ‘Giggle Academy’

March 19, 2024

Is MATIC ready for a leap forward? Breaking records in key areas

May 3, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.