Once a secret has been protected with a DeRec Protocol-compliant application, see what it looks like for a user to recover that secret in this step-by-step demonstration of a typical DeRec user experience. This is part 2 of a 2-part series.
If you’re an end-user or developer, see what a typical workflow looks like when protecting a secret with a DeRec Protocol-compliant wallet, website, or other application. This is Part 1 of a 2-part series.
DeRec’s power lies in its universality, interoperability, and applicability to new use cases. As a royalty-free open-source protocol, DeRec fosters a common standard for the protection of secrets across wallets.
Acoer is just one example of a turnkey blockchain application that can benefit from the open DeRec Protocol
Not only is there a big difference between custodial and non-custodial wallets from the end-user point-of-view, the difference also matters when considering the applications of the Decentralized Recovery protocol.
MultiVersX joins the ecosystem-wide initiative founded by Algorand Foundation, Cardano Developer Input | Output, Hashgraph, Ripple and XRPL Labs to offer improved security and safety to EGLD network users while advancing the efficacy and adoption of the open DeRec Protocol
At the heart of the $400 million heist involving Coinbase and its customers was a rogue customer support agent who took a bribe. It’s a not-so-pleasant reminder of the risks of centralized trust (and the benefits of decentralization).
There’s no question that everyone should be using a password manager to put better credential management best practices into play. But should we be using those same password managers to protect our blockchain secrets? Probably not. At least not yet.
As secrets go, blockchain account private keys, wallet passwords, and mnemonic wallet recovery phrases are very different from one another. But losing any of them can be catastrophic which is why they deserve special protection.
When it comes to protecting secrets, you’re damned if you do and damned if you don’t. If you protect a secret by sharing it, it could get compromised. If you don’t share it, you might lose access to it. Fortunately, the DeRec Protocol solves for this catch-22.