Wealth Security Protocol
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  • 🗺️Overview
  • 💜Casa vs. Alternatives
    • Introduction
    • Option #1: Do-it-yourself
    • Option #2: Custodial Storage
    • Option #3: Commercial Systems
  • 🔑System Design Principles
    • Introduction
    • Minimal Knowledge
    • High Security
    • Usability is Security
    • Expert Support
    • Redundancy
    • Sovereignty
    • Incentive Alignment
  • 🚨Threat Overview
    • Introduction
    • Data and Credential Loss
    • Phishing
    • SIM Hijacking
    • Network Attacks
    • Malware
    • Supply Chain Attack
    • Physical Coercion
    • Child/Pet Attack
    • Internal Service Provider Attack
    • Platform / Hosting Provider Attack
    • Code Dependency Attack
    • Official Seizure
    • Inheritance Failure
  • 🔐Chosen Features
    • Introduction
    • Hardware Wallet Signing
    • Multi-signature
    • Multi-location
    • Heterogeneous Hardware and Software
    • Seedless Hardware Wallets
    • Emergency Recovery Key
    • PIN or Biometrics for Mobile Key only
    • PIN for every device
    • Sovereign Recovery Instructions
    • Emergency Lockdown Button
    • Health Check
    • Identity Verification for Account Recovery
    • Inheritance
  • ✅Chosen Key Schemes
    • 5-Key Vault
    • 3-Key Vault
    • Pay Wallet
  • ❌Rejected Key Schemes
    • Shamir's Secret Sharing
    • 2-of-2
    • 1-of-2
  • ❌Rejected Features
    • Biometrics General Usage
    • Brain Wallet -- Memory Based Solutions
  • 🔧Remaining Attack Vectors
    • Address Spoofing
    • Malicious Insider Key Theft
    • Extreme disaster scenarios
    • Extortion
  • 👨‍🚀Future Improvements
    • Taproot/MAST
    • Schnorr Signatures
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  1. 🔐Chosen Features

Multi-signature

An ordinary single-signature private key is a single point of failure. If you're securing a large amount of funds, this represents an unacceptably large risk of theft and loss.

No key storage method is perfect. All crypto asset users must assume that they might lose a key to accident or disaster, or that an attacker will attempt and possibly succeed in stealing a key. You might have a sturdy safe at home guarded by a security system, but what happens if your house burns down, or if a close relative that knows your security system decides to steal it?

You could keep backups to make single signature keys more robust to loss. But every backup increases the risk of theft, since any one copy is enough to steal the funds held by those keys. Multi-signature adds resiliency to the system because losing a single key to accident, disaster, or theft does not compromise your entire security. A disaster must wipe out multiple keys, or an attacker must compromise multiple keys, and all at the same time.

A 3-of-5 multi-signature (multisig) system is much harder to compromise than a 1-of-1 single-key system. Multi-signature raises the cost of a successful attack by orders of magnitude, since the attacker must gain access to multiple private keys (in our case three), and not just one.

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Last updated 1 year ago

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