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0 pointsG3rn0ti3y ago0 comments

Yes, handling private keys is very inconvenient. I also can’t imagine my mother (although rather tech-savy for her age) handling all her financials with crypto wallets.

However, one of the next Ethereum upgrades (ERC-4337) will make it possible to safely recover wallets without a key seed phrase. Its implications seems to be huge but I am not deep enough into it to explain how exactly it is going to work. Perhaps somebody more competent than me can elaborate on that.

https://beincrypto.com/learn/erc-4337/

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lxgr3y ago

You can't eat your cake and have it too: Either you are the only party controlling access to your accounts – which then necessarily includes the possibility of losing everything – or you don't, in which case somebody else does.

This isn't a tradeoff unique to cryptocurrencies: Cash works exactly the same way (qualitatively, if not quantitatively, in terms of the risks of losing access to it) – if you store your life savings under your mattress, they can be stolen easily or burn down together with your apartment.

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lxgr3y ago

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