CoinDesk reported that Cardano and Hedera joined the Decentralized Recovery Alliance alongside founding members Algorand and Ripple to shape the future of crypto security standards. Algorand's CTO John Woods said:
Web3 and crypto promised to decentralize and make accessible the systems that matter most. That power comes with a significant responsibility to safeguard your private keys. Web3 has fallen short in delivering a great UX for securing and recovering key material. We co-founded the DeRec Alliance as part of our mission to improve the UX for the entire ecosystem, from regular users to developers, delivering a better, more accessible, and more secure experience for all. Streamlined key recovery is vital, as is further decentralization of other important infrastructures.
To read in full, click here.
