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I’m excited to work with Praveen on a new open standard for Bitcoin wallet cloud backup using Passkeys - no passwords, no key server trust.
Today wallets like BitKey provide a seedless UX with good redundancy but they require hardware. For spending wallets or users that want to start without hardware our proposal provides a compelling UX - Just do FaceID/TouchID to sync a Passkey to your password manager and done.
It’s an improvement over Photon since there is no key server to run for the wallet vendor and no PIN to remember for users (and no email/phone for PIN reset). The wallet just needs to regularly do a health check to verify the Passkey in your password manager can decrypt the cloud backup.
Let us know what you think. The goal is to develop this into an open standard that any mobile signer can adopt. Link below 👇
Praveen Perera@PraveenPerera
I've been working on a proposal for a new way to do trustless, end-to-end encrypted backups of hot wallets for @covewallet using Passkeys. I will work with @tankredhase to turn this initial proposal into a proper spec. Please give it look and give us any feedback you have praveenperera.com/blog/passkey-p…
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