Again, I’m still skeptical about most of this stuff, but this one thing seems like a pretty good and somewhat practical idea.
Again, I’m still skeptical about most of this stuff, but this one thing seems like a pretty good and somewhat practical idea.
And if you're letting someone else store the key, then it's just another form of "Login with X".
> doesn't seem to solve meaningful, mainstream problems yet
What you are proposing is actually a lot better than the tech we have now. If I ever lose my Google login and their customer service does not want to deal with me then honestly, I'm not sure what I'd do. I'd rather trust my friends and family to help me out than FAANG.
When my partner clicks on a phishing link, not only are they exposing themselves but potentially also my identity in this multisig world.
On the real, I think there are people who will want to try this if it’s made easy enough. Some people could try getting a name and keeping a wallet through a 3rd party, in which case they’re no better or worse off than they are now. But at any moment, if they feel the need, they could transfer that username to a cold wallet if they want to take control of their security. Or transfer it back to the third party if they later decide that’s too much work.
The cool thing about this is that it’s another option out there and it offers flexibility. For the record, again, I’m not one of those people calling this a revolution or “the biggest thing since the invention of the web”. I just think this one idea is kind of neat.
Luckily there's a way to have other people store your key without the key ever technically existing outside your own computer - https://app.tor.us/, and using common web services (like email) to retrieve everything you need to construct the key in your browser whenever you need it. You can even use this to send money to a public key before its corresponding private key has ever been constructed by anyone! Meaning you can send money to someone who lacks a wallet by email, or by telegram, or by discord, or by reddit, or by anything, and they retrieve the money without anyone else ever seeing their keys or having to manage their keys themselves.
How it works: https://tech.tor.us/
Disclaimer: NOT associated with torus, just think its cool.
Maybe not that many people would use it, but unlike a lot of other crypto stuff, this doesn’t require universal buy-in in order to be marginally useful to the people who do use it.
I can log in somewhere with metamask however without involving google. It's orthogonal , and that s why it can succeed
Means of contact end up being a pretty useful way of organizing identities (phone numbers have their issues) and having ways to fix mistakes. The one thing I haven't seen solved in web3 is communication to a user. Easy enough to encrypt messages in ipfs though, I suppose.
But, it is definitely a real use-case, so hats off to people for having a go at it!
If you want more control, you can build one of these browsers or extensions from source and audit the code yourself. So you can choose your level of challenge/paranoia.
Unless you want a 3 or 4 character do... ENS name. Then it's spicy.
What they don't tell you is that every single operation for every dApp on Ethereum, the gas fess make using this totally useless, which mean you have no choice but to tell others to wait for 'the gas fees to go down'. Rendering it useless.
Everyone knows that every operation is so expensive, that you cannot use Ethereum to pay for your groceries; making it totally useless in general since everyone needs to eat. Not even the other L2, ZK contraptions are ready or are even optimised enough to be useful so that isn't an option despite the hype around it.
Seems more like a centralised domain registrar contract having a sub-domain on .eth (collides with Ethiopia's three letter TLD) on an expensive blockchain controlled by so-called 'trusted' key-holders.
To your point about operations in general on Ethereum, yes, they are expensive, prohibitively so for the general population.