Blockchain
By Ayobami Abiola
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Blockchain technology is known for its decentralization, security of funds, immutability, and transparency. It allows funds to be sent without trusting a third party.
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But the major challenge has always been that the total security of a user wallet is the sole responsibility of the user.
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This is why people are always advised to write down their private keys in papers and keep them safe.
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SEP-30 is an ecosystem that allows the recovery of user keys so that they don’t lose hope on their funds when their master key is lost.
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Denelle Dixxon, CEO and Executive Director at SDF stated in a release on The Importance of Key management and Recovery:
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“The ... point is that this process means a user doesn’t have to maintain a backup key on her own. In fact, a user doesn’t have to keep track of a key at all.
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She concluded that key management and recovery solutions like Stellar Ecosystem Proposal 30 (SEP-30) are essential to driving the adoption of blockchain technology.
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Do you think SEP-30 is a great idea for Blockchain wallet Key management and Recovery?
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