When it comes to your crypto wallet, you should never see your private key. Private keys are essential for accessing your coins, and if they fall into the wrong hands, you could lose everything.
A seed phrase is the norm for crypto wallet recovery. It is a set of words that grants access to your wallet when put together in the correct combination. Crypto now favors hardware and distributed wallets. We need new and innovative methods. Social recovery is the best option since it removes the individual liability for maintaining a seed phrase. It also has the benefit of trust between friends and family.
Crypto exchanges are a favorite target of hackers. If your crypto is stored on an exchange, you may lose everything. Distributed wallets are much more secure than exchanges and they provide peace of mind knowing that your crypto is safe from an exchange hack.
Gridlock has designed a crypto wallet that focuses on security. It's a new type of hot wallet with enhanced security functions. A user's private key is split into five pieces to eliminate any single point of failure.