News ever-growing rate of crypto scams and hacks over the past few years, and several major crypto firms going bust in 2022, self-custody and maintaining sufficient wallet safety procedures have never been more critical.
In a March 16 Reddit post on the r/ethereum community titled “How I think about choosing guardians for multisig and social recovery wallets,” Buterin gave a detailed run down of how he approaches wallet security.
Self-custody is important. And social recovery and multisig is a great way to do it.
A quick reddit post on how I think about choosing guardians for social recovery and multisig wallets:https://t.co/FY1iyJ6BFC
— vitalik.eth (@VitalikButerin) March 17, 2023
While their structures differ, multisig and social recovery wallets rely on guardians, which serve as external sources to recover funds or approve transactions. Generally, guardians can be sets of external wallets belonging to the same individual or addresses controlled by other people or entities.
Keep reading this article on Cointelegraph.com.
