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Is Shamir computer a recommended solution for protecting digital assets in the blockchain?

avatarSaiMahesh ObillaneniDec 27, 2021 · 3 years ago3 answers

I've heard about Shamir computer as a solution for protecting digital assets in the blockchain. Can you provide more details about Shamir computer and its effectiveness in safeguarding digital assets?

Is Shamir computer a recommended solution for protecting digital assets in the blockchain?

3 answers

  • avatarDec 27, 2021 · 3 years ago
    Shamir computer, also known as Shamir's Secret Sharing, is a cryptographic algorithm that can be used to protect digital assets in the blockchain. It works by splitting a secret into multiple shares, which are then distributed among different parties. To reconstruct the secret, a specified number of shares are required. This ensures that no single party has access to the complete secret, making it more secure against unauthorized access. However, while Shamir computer can be an effective solution for protecting digital assets, it is important to consider other security measures as well, such as strong encryption and secure storage.
  • avatarDec 27, 2021 · 3 years ago
    Yeah, Shamir computer is a pretty cool solution for protecting digital assets in the blockchain. It uses this fancy algorithm called Shamir's Secret Sharing to split the secret into multiple shares. So even if someone gets hold of one share, they can't do much with it. You need a certain number of shares to reconstruct the secret. It's like having multiple keys to a treasure chest, and you need all the keys to open it. Pretty clever, right? But remember, it's not a silver bullet. You still need to take other security precautions to keep your digital assets safe.
  • avatarDec 27, 2021 · 3 years ago
    Shamir computer is definitely a recommended solution for protecting digital assets in the blockchain. It provides an extra layer of security by splitting the secret into multiple shares. Even if one share is compromised, the entire secret cannot be reconstructed. This makes it highly resistant to attacks and unauthorized access. At BYDFi, we highly recommend using Shamir computer to protect your digital assets. It's a reliable and effective solution that adds an additional level of security to your blockchain transactions.