Validated Self-Custody. No Seed Phrase. w/ Ouriel Ohayon (Zengo)
May 20, 2025
In this discussion, Ouriel Ohayon, co-founder of Zengo, enlightens listeners on the complexities of crypto custody and security. He shares insights into the challenges posed by centralized custodians and the dangers of self-custody. Ouriel reveals how Zengo employs Multi-Party Computation (MPC) technology to enhance security, featuring a passwordless experience and innovative recovery protocols. The conversation also covers evolving business models in crypto wallets that prioritize user experience while ensuring safety amidst rising cyber threats.
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Custody Problems in Crypto
- Crypto custody solutions have historically struggled with security, whether centralized or self-custody.
- Problems include loss, hacking, and physical coercion like wrench attacks.
Building a Lose-Proof Wallet
- Zengo builds a crypto wallet users "cannot lose" due to error or attack.
- The challenge is balancing security with a seamless user experience.
Fundamental Crypto Security Principle
- Wallet security traditionally revolves around protecting private keys and backups.
- If a key or seed phrase can be stolen, it inevitably will be.
