News Explorer — Ryder Launches Seed Phraseless Crypto Hardware Wallet, Utilizing Social Recovery and the Shamir Secret Sharing Algorithm

Generated by AI, curated by humans

Oct 19, 4:00 pm

Decrypt

Ryder Launches Seed Phraseless Crypto Hardware Wallet, Utilizing Social Recovery and the Shamir Secret Sharing Algorithm

Seed phrases, which are long multi-word phrases used to access crypto funds, may become obsolete thanks to social recovery. Ryder, a company that has closed a $1.2 million funding round, has launched its Ryder One hardware wallet that replaces seed phrases with its TapSafe recovery feature. This feature utilizes the Shamir Secret Sharing algorithm to distribute private keys among a group, eliminating the need for a single seed phrase.

Seed phrases, which are long multi-word phrases used to access crypto funds, may become obsolete thanks to social recovery. Ryder, a company that has closed a $1.2 million funding round, has launched its Ryder One hardware wallet that replaces seed phrases with its TapSafe recovery feature. This feature utilizes the Shamir Secret Sharing algorithm to distribute private keys among a group, eliminating the need for a single seed phrase.

Latest

Apr 3, 6:29 pm

Decrypt

MARA Cuts 15% of Workforce After Selling $1.1 Billion in Bitcoin to Pivot Business Focus

MARA, a publicly traded Bitcoin miner, has reduced its workforce by 15% following the sale of $1.1 billion in Bitcoin. T... Read Summary

Apr 3, 5:28 pm

Decrypt

Dmail Network Decentralized Email Service Shutting Down After Five Years

Dmail Network, a decentralized email platform operational for five years, will gradually cease services starting May 15... Read Summary

Apr 3, 5:09 pm

Decrypt

New Attorney General Todd Blanche Owned Bitcoin, But Pursued Cases Against Crypto Developers

Todd Blanche, the new head of the Department of Justice, has a history of pro-industry reforms and crypto investments. U... Read Summary

Apr 3, 4:34 pm

Decrypt

Drift Attempts On-Chain Negotiations With Suspected North Korean Hackers After $285 Million Exploit

Drift, a Solana-based decentralized exchange, identified wallets holding stolen crypto and attempted on-chain negotiatio... Read Summary

Apr 3, 3:51 pm

Decrypt

Bitcoin Just Had Its Worst Quarter in Years—Where Does It Go From Here?

Bitcoin experienced its worst quarterly performance since early 2018, dropping 22% year-to-date due to war, tariffs, and... Read Summary

Apr 3, 2:53 pm

Decrypt

Riot Blockchain Sold $250 Million in Bitcoin, Marking Second Straight Quarter of Sales

Riot Blockchain sold over $250 million worth of Bitcoin in Q1, reducing its holdings to 15,680 BTC valued at $1.04 billi... Read Summary

Apr 3, 2:37 pm

Protos

US Senator Blumenthal Questions Binance's Honesty About Transactions With Iran

Binance faces scrutiny from US Senator Blumenthal over potential misleading information provided to Congress regarding t... Read Summary

Apr 3, 2:35 pm

Decrypt

Ethereum Foundation Nears Completion of 70,000 ETH Staking Target

The Ethereum Foundation has staked over 45,000 ETH, nearing its 70,000 ETH target, with a total staked position of 69,50... Read Summary

Apr 3, 12:12 pm

Decrypt

Cambodia's New Law Targets Online Scams Involving Crypto, Introducing Harsh Penalties

Cambodia has passed a draft law imposing severe penalties on online scam operations involving crypto, aiming to eradicat... Read Summary

Apr 3, 11:35 am

Decrypt

Algorand Hits 2-Month High After Google Recognizes Quantum Readiness

Algorand's recent rally, driven by a Google research paper praising its post-quantum protocols, saw a 44% increase in th... Read Summary

Apr 2, 11:00 pm

Decrypt

Naoris Protocol Blockchain Is Ready for the Quantum Computing Threat

The blockchain industry is racing against time to prepare for the quantum apocalypse, with networks like Naoris Protocol... Read Summary

Apr 2, 9:04 pm

Decrypt

Circle Introduces CirBTC, a Wrapped Bitcoin Token Backed 1:1 by On-Chain Reserves

Circle plans to introduce a new wrapped Bitcoin token, cirBTC, backed 1:1 by on-chain Bitcoin reserves. The token aims t... Read Summary

Apr 2, 7:21 pm

Decrypt

Elon Musk's X Is Implementing Auto-Locking and Verification to Combat Crypto Scams

Changes are being made on Elon Musk's social media platform, X, to combat crypto scams, including auto-locking and verif... Read Summary

Apr 2, 7:04 pm

Decrypt

Concerns Arise Over Drift Protocol's Design, Centralization Risks in the Wake of $285 Million Exploit

Drift Protocol's $285 million exploit has raised concerns about its design features and procedures, following a sophisti... Read Summary

Apr 2, 5:44 pm

Decrypt

x402 Foundation Led by the Linux Foundation Will Govern Coinbase-Backed AI Agent Payments Protocol

The x402 Foundation, overseen by the Linux Foundation, will manage the development of a new internet payments standard,... Read Summary