The Ryder One wallet taps into the widely known Shamir Secret Sharing (SSS) algorithm, a cryptographic formula that distributes private information (in this case, private keys) among a group. No single user has the ability to reveal the private key. Rather, the group has to act together to reveal the secret.

Ryder’s new hardware wallet isn’t the first to abstract keys through the Shamir Secret Sharing Algorithm. An implementation of SSS was central to the controversial key recovery service launched by Ledger, and there are other companies on the market that have been approaching this scheme.The Ryder One wallet is set to launch November 1st through Kickstarter, and will start off with blue-chip tokens, including Bitcoin, Ethereum, Polygon, and Solana.

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