On the first day of the three-day event Satoshi’s Vision Conference in Tokyo the creator of a project called Safewords presented a new solution to safeguard cryptocurrency ”passwords”. Smartwords is a 2-out-of-3 distributed backup kit for your mnemonic seed words.
This week the founder and CEO of the company Coin Storage Guru, Brenden Lee introduced his new project Safewords. The product is a 2-out-of-3 distributed backup kit for private keys. Lots of cryptocurrency holders have written down 12-24 words for their mnemonic seed on a piece of paper, and then they usually hide the material out of view. Lee has designed a simplified system that enables a way they can safely distribute the mnemonic phrase between two other trusted individuals or two vaults. The system works with any cryptocurrency that uses a 12-24 word backup.
Read More Here >>>> https://news.bitcoin.com/meet-smartwords-the-2-3-distributed-backup-for-cryptocurrency-keys/
Topic: [2018-03-22] Meet Smartwords – Distributed Backup for Cryptocurrency Keys (Read 113 times)
March 23, 2018, 08:48:27 PM
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