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Shamir Backup

Shamir Backup is an advanced method of backing up recovery keys that increases security and resilience against loss. A standard cryptocurrency wallet backup usually consists of a single list of 12 or 24 words, known as a "recovery seed." This seed acts as the master key to your funds. The problem with this approach is that if someone steals this single list of words, you lose it, or it is destroyed, you lose access to your cryptocurrencies. Shamir Backup solves this problem by splitting the original master key into multiple separate parts, known as "shares." During setup, the user chooses the total number of shares to be created, as well as the minimum number of shares required for recovery. For example, you can create five shares and set it so that you need any three of them to recover the wallet. If an attacker were to find only one or two shares, they are useless to them because the wallet cannot be recovered without reaching the specified number of shares. Likewise, if you lose or destroy one or two shares, you still have enough remaining shares for a successful recovery. This allows for the secure storage of individual shares in different physical locations, reducing the risk of their simultaneous loss.

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