Cointelegraph

This Non-Profit Company Wants to ‘Decentralize’ Crypto Keys Themselves


Trusting trustless bot with your crypto private keys

Tide, a non-profit privacy advocate, claims to have developed a decentralized technology, which gives rise to a trustless bot or Delegated Automated Trustee (DAT) on the blockchain. 

According to an announcement on Aug. 5, DAT can act as the custodian of a crypto-key, manage access to personal data or enable automated trading bots to access funds without having access to a full key.

Essentially, the key protecting the data or crypto-assets is divided into several pieces and split between a group of nodes. No single node has access to or knowledge of the whole key, or the authority to act on its own. This makes malicious access to your key virtually impossible.

However, the nodes can act in a swarm to perform functions utilizing the key. The user can specify the parameters upon which this authority can be given.

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