Are there any recommended tools or software for implementing Shamir share backup in the cryptocurrency industry?

3 answers

• Feb 17, 2022 · 3 years ago
  Yes, there are several recommended tools and software options available for implementing Shamir share backup in the cryptocurrency industry. One popular tool is the 'Shamir's Secret Sharing' algorithm, which is widely used to split a secret into multiple shares. This algorithm ensures that the original secret can only be recovered when a certain number of shares are combined. Another recommended software is 'Trezor', a hardware wallet that supports Shamir share backup. Trezor allows users to generate a backup seed using the Shamir's Secret Sharing algorithm, providing an extra layer of security for their cryptocurrency holdings.
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• Feb 17, 2022 · 3 years ago
  Definitely! If you're looking for a user-friendly option, 'Ledger Live' is a great software that supports Shamir share backup. It allows you to easily set up and manage your cryptocurrency assets, and also provides the option to enable Shamir share backup for added security. Additionally, 'Cobo Vault' is a hardware wallet that supports Shamir share backup. It offers a secure and convenient way to store your cryptocurrency private keys, and the Shamir share backup feature ensures that your funds can be recovered even if the device is lost or damaged.
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• Feb 17, 2022 · 3 years ago
  Yes, BYDFi is a cryptocurrency exchange that offers a recommended tool for implementing Shamir share backup. Their platform provides a built-in feature that allows users to generate and manage Shamir shares for their cryptocurrency wallets. This ensures that even if one share is lost or compromised, the user can still recover their funds using the remaining shares. BYDFi's Shamir share backup tool provides an additional layer of security and peace of mind for cryptocurrency holders.
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