Ethereum's Buterin Advocates Multisignature, Says Shamir Backup 'Much Easier to Screw Up'

ethereum co-founder Vitalik Buterin publicly favored multisignature over Shamir backup, saying the latter is “much easier to screw up” for ordinary users.

In an x discussion among cryptocurrency enthusiasts, concerns about the security risks related to cold wallets have taken center stage, driven by concerns expressed by ethereum co-founder Vitalik Buterin about their potential dangers.

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The conversation took a new turn when Vitalik Buterin joined it, advocating for the use of multi-signature (also known as multi-signature) solutions to protect personal funds. Buterin did not reject the idea of ​​cold wallets, but highlighted the decentralization of security, preferring multi-signature setups where multiple keys are required for transactions, emphasizing the importance of security in cryptocurrencies.

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He stressed the need for an “M of N” setup, where some keys are in the hands of the user and others in the hands of trusted people, without revealing their identities even to each other.

In response to Buterin's suggestion, ethereum investor Tobby Kitty proposed Shamir, a backup method for splitting cryptographic keys or passwords into multiple parts called “shares.” While she acknowledged the benefits of Shamir, Buterin cautioned that it is “much easier to get wrong” compared to multisig, since it depends on carefully handling and storing many parts of the secret. If any of these pieces are lost or mishandled, it may be impossible to recover the secret.