Archived Content from Web3Auth Community
This topic was originally posted by shahbaz on 3/26/2024.
This content has been migrated from our previous community forum to preserve valuable discussions.
Along with scalability and transaction time, key management has posed a critical problem to any ecosystem gunning for mainstream adoption. And while the former two are solved on Solana, the current standard of managing keys via seed phrases is a far cry from perfect. Quantifiably, reports have shown that up to 20% of all bitcoin in circulation has been lost, users take up to 10–15 minutes to onboard onto any application/wallet and it’s almost every day that you hear stories of lost phrases.
This is a companion discussion topic for the original entry at https://blog.web3auth.io/lets-replace-seed-phrases-on-solana-make-onboarding-easy-for-the-next-billion-users-on-both