Introduction
In the world of cryptocurrency security, we often find ourselves juggling the desire for robust protection with the need for simplicity and convenience. At Censo, we've crafted a solution that strikes this balance with a wink and a nudge. When it comes to choosing Trusted Approvers for your crypto assets, we proudly say, "You can pick any number you like, as long as that number is two." Confused? Intrigued? Let’s dive into the genius of this seemingly limited choice.
The Trusted Approver System: A Blend of Security and Simplicity
Censo's approach to securing your cryptographically secured seed phrases and user credentials is innovative yet intuitive. By encrypting the seed phrase on your device and then distributing cryptographically provable approval rights to Trusted Approvers using Shamir Secret Sharing, we ensure maximum security and resilience.
Why Two is the Magic Number
With two Trusted Approvers, plus you as the owner always being one part of the equation, a 2-of-3 threshold is maintained. This setup means that any one of your two Approvers can assist you in reconstructing your seed phrase, providing redundancy without the risk of collusion.
The Role of Trusted Approvers
Your Trusted Approvers are your safety net. They could be close family, friends, or even your attorney – people you trust implicitly. But here’s the catch: they can help you access your seed phrase, yet they can't access it themselves. They are your guardians, not gatekeepers.
Simple for Them, Secure for You
Trusted Approvers don’t need to be crypto gurus. If they can use a smartphone, they can be your rock-solid backup. And for them, it's as easy as accepting a request and following a few simple steps.
The Power of Redundancy and No Single Point of Failure
Our 2-of-3 threshold ensures there's no single point of failure. If one Trusted Approver is unavailable or loses their credentials, you still have a backup. It's a seamless blend of security and convenience.
A Fail-Safe for Authentication Too
In the rare event you lose access to your usual authentication methods (like your Apple or Google Login ID), your Trusted Approvers can step in. Think of it as a triple-layered safety net.
Why Not More Than Two Approvers?
You might wonder why we stop at two. Well, the next step up would be four Approvers and a 3-of-5 threshold. For most users, that's overkill. We're about striking the perfect balance between ironclad security and practical usability.
Conclusion
So there you have it. At Censo, we offer you the freedom to choose any number of Trusted Approvers, as long as it’s two. It’s our little way of ensuring that your crypto security is as robust as it is user-friendly. After all, in the world of digital assets, sometimes less is more – especially when less means more security, more simplicity, and more peace of mind.
