What’s Next for Wallets After Ledger Recover Outrage? - Ep. 502
Wallet security was in the spotlight after the announcement of Ledger Recover, but the crypto community doesn’t need to “freak out,” according to Itai Turbahn, co-founder and CEO of Dynamic Labs, and Ouriel Ohayon, CEO of ZenGo. The two CEOs join the show to talk about the challenges of bringing self-custody to the masses. For many, “not your keys, not your coins” is actually “your keys, your problem.”
June 6, 2023
1 hr 7 min
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Episode 502 · June 6, 2023
What’s Next for Wallets After Ledger Recover Outrage? - Ep. 502
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What’s Next for Wallets After Ledger Recover Outrage? - Ep. 502
Summary
Wallet security was in the spotlight after the announcement of Ledger Recover, but the crypto community doesn’t need to “freak out,” according to Itai Turbahn, co-founder and CEO of Dynamic Labs, and Ouriel Ohayon, CEO of ZenGo. The two CEOs join the show to talk about the challenges of bringing self-custody to the masses. For many, “not your keys, not your coins” is actually “your keys, your problem.”
Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform.
Show highlights:
the problems that may arise when managing your own keys
the misconceptions that people have about hardware wallets
why Ouriel says that Ledger is going in the right direction but made a major mistake
how multi-party computation can be a solution to the problem of securing your own keys
what are other ways to solve it, such as Shamir’s secret sharing (SSS) and multisigs
the tradeoffs between security and user experience
how Dynamic Wallet works by linking multiple wallets to a single account
whether “passwordless authentication” is the future of security
how can users protect themselves from “bad transactions” and what are companies doing to help
whether open source contributes to more security in the wallet landscape
how account abstraction will change the user experience
whether security is the key to the future of crypto
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Guests:
Itai Turbahn, cofounder and CEO of Dynamic Labs
Ouriel Ohayon, CEO of ZenGo
Previous appearance on Unchained: ZenGo: A Self-Custodial Wallet Minus the Risk of Losing Your Keys
Previous coverage of Unchained on wallets:
The Ugly Tradeoffs of Ledger’s New Recovery Service
Links
What is ZenGo Recovery Kit?
Cointelegraph:
Multiparty computation could offer increased protection for crypto wallets
I run a Ledger competitor — But I support it in blow-up over keys
Unchained: ‘Backdoor’ for Seed Phrases? Ledger’s New Recovery Feature Spooks Users
Tweet from Ouriel that explains the differences between ZenGo and Ledger
Solving the crypto adoption problem: making crypto *actually* usable
Multi-Party Computation (MPC) Technology Can Ensure Effective Fraud Detection | Nasdaq
Web3 Auth 101: What is wallet-based authentication?
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