The End of Seed Phrases
The End of Seed Phrases
Squads
Problem to Solve
Seed phrases are a deterrent for onboarding new users. When a new user makes a move into the web3 world the 1st interaction is with a wallet and to set up their wallet they come across the seed phrase. Not all the users are comfortable in taking the matter into their own hands and keep the seed phrase safely. Moreover it is a single point of failure as there is no recovery mechanism for a lost seed phrase.
Possible Solution
The possible solution is to eliminate the need for seed phrases in a wallet. This can be achieved with alternatives such as: - Social recovery - Email auth - 2FA - Solutions like MPC walletsÂ
Resources
- MPC Wallets Introduction - https://www.alchemy.com/overviews/mpc-wallet
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