Seed phrases are outdated - why social recovery is better

Seed phrases are outdated - why social recovery is better

4 Feb 2022Gridlock

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.

The seed phrase method is outdated because it is solely dependent on the user maintaining it securely. If the seed phrase is lost or stolen,  the crypto assets are gone forever. With social recovery, there is no need to worry about losing a seed phrase. This is because the crypto assets are stored in multiple places that only the owner can access.

In addition, seed phrases are often long and difficult to remember. This can lead to users writing them down in insecure places or forgetting them altogether. Social recovery eliminates this problem by removing seed phrases completely. It instead relies on trusted friends to verify someone attempting to access a wallet. Experts argue that there is no way to maintain a seed phrase securely.

This is because if you keep it online, it is susceptible to hackers. If you keep it offline on paper, then you are prone to losing it.

Overall, social recovery is a better option than seed phrases because it is more secure and user-friendly. As the landscape of crypto changes, it is important to adapt and change with it. Otherwise, you run the risk of losing everything.  

Seed phrases are outdated and dangerous. It's time to switch to social recovery.

Social recovery is a process where multiple people confirm your identity before allowing you to re-access your wallet. This system is much more secure than seed phrases because it eliminates the need for a single phrase that can be lost or stolen.

With Gridlock Crypto Wallet, social recovery is really easy and there is no need for a seed phrase. You just need 2 guardians to protect your wallet and guarantee easy recovery. Gridlock distributes pieces of your private key to your friends (guardians). This means that no one can assemble them except you. No one can ever see your private key, including you.

For crypto recovery, Gridlock wallets rely on the social proof of guardians. This is because holders of pieces of the key provide permission for the recovery process. 3 of these 5 pieces are required to restore a missing piece. Furthermore, no one outside of the network of devices can ever gain access without permission.

Social recovery also has the added benefit of being user-friendly: you do not need to worry about moving your key backups between files. They are kept in secure places on both your and your friends' devices. All you need to do is log in from a new device and begin the process. Confirm by email and ask a guardian to confirm too.

Crypto recovery is now easier and safer than ever with Gridlock and social recovery.

With Gridlock Pro, you also get enhanced monitoring to ensure you know when a guardian has gone missing. You will also receive detailed instructions on how to fix any issues.

For a wallet to be safe, security is the priority.

Gridlock Pro ensures that your crypto wallet remains safely distributed. Always know that your guardians are reachable when you need them. 

Gridlock Pro is perfect for holders of large quantities of crypto!

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