Winklevoss capital backs Vault12’s decentralized solution to safeguard private keys – Cr…

Vault12, a cryptocurrency custody startup, has introduced a recovery network to protect the private keys. Backed by notable investors, including the Winklevoss Twins, the solution uses a cryptographic technique to safeguard the keys, and one can recover them by using friends and family as a redeeming network. The new innovation is decentralized, and the clients can pay guardians in ethereum.

Vault12 has proffered a new solution to guard the private keys by using friends and family as a recovery network. Entitled as the “personal cryptocurrency security solution,” the innovation employs a cryptographic technique – Hierarchical Threshold’s Shamir’s Secret Sharing to allow the guardians to protect users’ crypto keys.

An Israeli cryptographer Adi Shamir developed the cryptographic method. It lets the safeguards to hold the components of users’ seed phrases, and in any case, the users lose admittance to cryptocurrency holdings, they can link the parts of their…