block-core
Secret Recovery Phrase - backup and recovery
We should investigate potential backup and recovery of the Secret Recovery Phrase. One suggested feature by Pippellia (Discord) is to include an social recovery option.
Mark Nadal posted a while back a demonstration of social recovery using 3 friends, think it was a web app that had option for any number of friends.
Other options are backup on OneDrive/Google Drive and similar.
It can also be used for reduced amount of keys, for example an DID Document can have a special key needed to revoke and replace an DID, in the case of lost or stolen Secret Recovery Phrase.
I read this post for a good overview of the social recovery mechanism : https://vitalik.ca/general/2021/01/11/recovery.html
I would add a 2 factor authentication for signing transactions.
Possibly using Authy or similar method since people are already familiar with that mechanism.
then given n is the number of guardians, If at least m guardians collaborate ( which means they send to you their pieces of information about the key ), you can recreate the key yourself.
The best would be to not having the guardians know each other. This is quite complicated to achieve if the mechanism is on chain, therefore I see advantages in using the DID and the VCs schema to implement the mechanism.
I don't know how the signal for recovering the key would be started
