Crypto inheritance: We’re giving $1,000 of Bitcoin with Zengo Wallet – AMA!
2 min read
We’re giving $1,000 worth of Bitcoin into 2 Zengo Pro accounts and picking 2 winners to “inherit” the assets!
2 Zengo Pro wallets hold $500 USD in Bitcoin each: (TX links coming soon!) Winners picked from this AMA (details below) 5 runners up get free Zengo Pro access
Legacy Transfer allows you to pass on your crypto legacy:
No KYC Assets remain on-chain No seed phrases required (institutional-grade MPC instead) Cancel or re-assign the Legacy Recipient at any time
The AMA Challenge: Win Bitcoin
To be eligible:
Post a question about Legacy Transfer in this AMA below Download and backup a Zengo wallet here Move at least $5 worth of assets into your Zengo wallet
On Monday, June 10th, the Legacy AMA goes live from 9am EST – 11am EST (but you can begin posting questions now).
On Sunday, June 16th, the Zengo team will select 2 winners and announce them in an updated edit on this post; we will then begin the Legacy Transfer process. We will also select 5 runners-up to get free Zengo Pro access.
Once set up, the transfer will occur in approximately 4 months, which is the shortest inactivity period allowed. Learn more. If the announced winners don’t finalize their end of the Legacy Transfer Setup within 24 hours after winning, we will select and announce alternate winners.
Learn more about Legacy Transfer in our White Paper on GitHub
Questions? AMA!
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More about us at Zengo Wallet: Self-Custodial with No Seed Phrase
Using a 2-of-2 Multi-Party Computation (MPC) framework, each of the two Zengo parties (Zengo app on the user device and Zengo server) independently generate their own “Secret Share” during the wallet creation process. The secret shares are cryptographically locked to prevent MITM attacks.
The share randomly generated on the user’s device is called the Personal Share and leverages the device’s hardware-based random number generator (TRNG). Only the Personal share can initialize and sign transactions, all of which are verified by the device’s hardware (Secure Enclave or TEE/Trusted Execution Environment). The share randomly generated on Zengo’s remote server is called the Remote Share and is used to co-sign transactions emerging from the Personal Share.
Using MPC, these two Secret Shares are able to compute their corresponding public key securely.
Even if a hacker gains access to one of the two secret shares, it is still useless to them as they cannot spend user funds. Check out our recent ZengoWalletChallenge and AMA to hack a Zengo Wallet holding 10 Bitcoin.
Lose your phone? The 3-factor wallet recovery process is biometrically locked to the user. More info here.
submitted by /u/ZenGoOfficial
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