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.”

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

Thank you to our sponsors!

• Crypto.com

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?

Learn more about your ad choices. Visit megaphone.fm/adchoices