Guardian accounts
Why Set Up Guardian Account:
Important note: PCM Wallet will not keep your password. Please save or back-up your password manually in a secure way. In case of password lost, you cannot retrieve the password unless you have setup guardian account.
Prevent Password Loss: Enhances security, preventing the loss of account ownership during password-related issues. Account recovery is possible with guardian approval. Add only trusted family and friends as guardians for assistance in account recovery and access.
How It Works:
The social recovery wallet operates based on smart contracts deployed on the blockchain. It requires the use of guardians – trusted addresses that are added to the wallet for security verification. If you lose access to your wallet, guardians can help to restore access through a collective vote.
For instance, with one Guardian account set up, loss of wallet access prompts seeking assistance from the Guardian for recovery. With two accounts set up, approval from both is necessary. With five Guardians, three out of five approvals are required.
| Number of guardian accounts | Required vote for recovery |
|---|---|
1 | 1 |
2 | 2 |
3 | 3 |
4 | 3 |
5 | 3 |
Tutorial for setting up guardian accounts
To setup guardian account, navigate to profile settings, click account security, then set Guardian.
Submit to create a Guardian contract before proceeding.
Upon contract creation, head to my Guardian, then add new, and enter the Guardian's email. Guardians must also register on PCM Wallet to accept requests.
Email notifications will be sent accordingly. Please remember to only add trusted family and friends as Guardians for account recovery and access assistance.
After submitting the request, your Guardian can now visit the security settings on PCM and click in the Guardian authentication.
The Guardian operation
Visit the security settings on PCM and click in the Guardian authentication. He can now accept your request.
Once it's done, he can check the Guardian record here in the "my guarded account".
Your operation
You can also check the Guardian record on the My Guardian page. You can also delete the Guardian account if needed.
By unlocking the account status, you can delete the account and wait for their approvals.
Changing password (Not in password lost scenario)
When you are logged into your PCM Wallet account, you can change your password by verifying your email address without the approvals from Guardian accounts.
Go to profile seetings. Click account security and then click account password setup.
Enter the email and then wait for the email verification. Enter the one-time passcode to verify and you can set up your new password.
Changing password (if you forget your password)
In the unfortunate event of account loss, retrieval is possible with set up Guardian.
On the homepage, select Forget Password, input your email address, and choose your Guardian for authorization.
Approval from a designated number of Guardians is required, with a mail notification sent for completion within 30 minutes. Please do not close this page until the submission.
On the Guardian side, they can now visit PCM Wallet and click Guardian authentication in the Guardian settings. Confirm the email and click Accept to approve the request.
Once the Guardians have approved, you can now click Submit and change your password.
Q&A for Account Abstraction (AA) Wallet and account security:
Q1: What is an Account Abstraction (AA) Wallet?
A1: An Account Abstraction (AA) Wallet is a type of Ethereum wallet that utilizes smart contracts for transaction processing. Unlike traditional wallets with private keys, AA wallets rely on smart contracts for account management.
Q2: How is the Security of the Smart Contract Account Ensured?
A2: The smart contract account enhances security by removing the need for private keys. Instead, it uses a smart contract, reducing the risk associated with private key exposure. This innovative approach ensures a more secure and user-friendly experience.
Q3: What Makes AA Wallet Different from EOA (Externally Owned Account) Wallets?
A3: AA wallets differ from EOA wallets in their method of transaction signing. While EOA wallets require private keys, AA wallets utilize smart contracts for this purpose. This difference not only enhances security but also provides greater flexibility in account management.
Q4: How Does the Social Recovery Feature Work for PCM Wallets?
A4: The social recovery feature involves adding trusted individuals as guardians to your PCM wallet. In the event of account loss or compromised access, these guardians collectively play a crucial role in approving the recovery process. This adds an extra layer of security and ensures a reliable method for regaining access to your wallet.
Q5: What Happens If I Lose Access to My PCM Wallet?
A5: If you lose access to your PCM wallet, the social recovery feature comes into play. By initiating the recovery process and involving your designated guardians, you can securely regain control of your account. The guardians receive notifications and, upon confirmation, contribute to account recovery.
Q6: Are There Any Risks Associated with AA Wallets?
A6: While AA wallets are designed to enhance security, it's important to add trusted guardians. Choose individuals who can be relied upon to assist in the recovery process. This precaution minimizes risks and ensures a smooth account recovery experience.
Q7: Can I Change My Password Without Guardians for PCM Wallets?
A7: If no guardian account has been added, changing the password when logged out is not possible. To enhance account security, it's strongly recommended to set up guardians. Guardians play a crucial role in the recovery process and contribute to maintaining the integrity of your account.
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