Topic: social recovery wallet (Read 68 times)
Users sign messages with their signature key and each transaction moves with a single confirmation click in the social recovery wallet, which works similarly to a standard wallet. If a user forgets their signing key, the social recovery feature will kick in. They can then use a website to contact their guardians and request that they sign a particular transaction to alter the signature pubkey recorded in the wand.
Are there any wallet implement such a concept or something close to it?
In Bitcoin? I'm afraid that no, with the exact way your image describes it.Assuming, five people agree on having a 3-of-5 multi-sig wallet, the three of them can, whenever they want, spend all the outputs and “move” from the selected multi-sig wallet to another one which uses different xpub keys from those who agreed upon the transaction. (changing just one xpub key would be enough)
They can't just change the hash of the multi-sig address they've deposited their funds without broadcasting a transaction which spends the funds to another address, no.
Are there any wallet implement such a concept or something close to it?
The idea is to have a signing key key with a number of trustees (guardians) and the sign key can change the trustees and a number of trustees can change the signing key.
The idea is to have a signing key key with a number of trustees (guardians) and the sign key can change the trustees and a number of trustees can change the signing key.
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