If you spend any time browsing the hardware wallet market, chances are you’ve come across the term Shamir Backup and you probably assume it has something to do with recovering your data in case your wallet is stolen or lost. This is especially true for the Trezor Model T, which is currently the only device with the Shamir Backup feature.
How to use Shamir Backup with Trezor Model T
Even if you don't know exactly what Shamir Backup is yet, rest assured that it is a widely used tool in the hardware wallet world as an excellent way to protect your data from yourself, Mother Nature, and would-be crypto thieves.
Even SatoshiLabs, the folks who first implemented the backup scheme in their Trezor Model T, hope that Shamir Backup will become a new industry standard for the sake of consumers. But what exactly is Shamir Backup? What makes it superior to a simple master seed recovery protocol, and why should you know about it?
Below, we’ll step-by-step explain the overall crypto security landscape, the problems Shamir Backup solves, and why we expect the protocol to become a widespread industry standard for crypto security.
