Protection against loss + theft

Modified on Sat, 21 May 2022 at 07:21 PM

  • You need at least 3 HODLRs to split your seed amongst all of them and protect it against loss and theft.
  • With such security scheme, each HODLR holds a share. You need more than one share to reveal the seed. But if someone finds one of your HODLRs, your seed remains invisible and you still have the other shares to recover it.

    For example, if you use 3 Hodlrs and distributes shares amongst them, you have a 2-of-3 recovery scheme.
    It means you need any 2 shares to recover your access to your full seed.
    With Shamir Secret Sharing, it can be done with 5 hodlrs (3-of-5 recovery scheme), or even more. You choose your recovery threshold and your total number of shares.

  • There are two ways to split a seed in multiple shares

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