Technology

Private Keys and The Blockchain Revolution

Social key recovery will be the true beginning of the blockchain revolution.

Managing keys is the biggest problem of the decentralized era. Once the key management issue is solved, blockchain tech will be far more valuable.

Also, things like sending money to the wrong address. How do we fix that? Novel consensus algorithms will be required.

Perhaps there’s a another solution similar to the Raiblocks/Nano model, where coins can be sent by mining a transaction. Upon receipt, the coins must be mined again. Users who register their keys to a wallet, who, in other words, have blockchain registered addresses, can receive the currency, but otherwise (without an interaction from the account holder) the transaction will always be reversible by the sender, up until the point when the account holder confirms the transaction.