Vitalik Buterin, co-founder of Ethereum, emphasized the importance of decentralized security in the management of crypto assets in his statement today.
Ethereum Co-Founder Vitalik Buterin Advocates Decentralized Security in Crypto Assets
He emphasized the importance of multisig wallets, a method he personally uses to protect over 90% of his digital assets.
Multisig is a type of wallet that requires more than one key to authorize a transaction.
In Buterin's case, he has some keys, while others he trusts are entrusted with other keys that will prevent the funds from being retrieved when they are not enough to keep them safe.
Buterin emphasized the importance of maintaining privacy with this installation. He suggested that the identities of the other keys not be revealed, even to each other. He believes this approach is a way to “decentralize your own security.”
This recommendation comes at a time when the use of hardware wallets and the risks associated with them are under scrutiny. Buterin's method offers an alternative approach, emphasizing the importance of decentralization and trust in increasing security in the crypto space.
As digital currencies gain increasing attention, such insights from industry leaders are extremely valuable in guiding users on how to manage their digital assets securely.
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