A simple solution to the Private Key-Loss Conundrum
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Statistically, over 10% of users forget or lose their passwords or private keys for encrypted data. This is not a big problem if there is a password or private key recovery option, but it becomes a disaster when there is no way to recover the lost or forgotten password or private key. According to cryptocurrency data firm Chainalysis, over three million bitcoins are considered lost due to forgotten passwords.
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