A simple backup scheme for wallet accounts

The discussion revolves around the complexity of implementing a particular solution, which is acknowledged by the sender. However, there's an optimistic view that packaging this solution into a Rust crate combined with WebAssembly (WASM) and other bindings could simplify adoption for wallets. This approach suggests a technical strategy aimed at enhancing usability despite the inherent complexities.

Moreover, the conversation touches upon the concept of multi-party wallets, highlighting both advantages and challenges associated with them. Multi-party wallets, as described, offer stronger privacy protections in scenarios where one of the keys may be compromised. This is because the design inherently requires multiple parties to collaborate for transactions. However, this also introduces a notable drawback in terms of recovery processes. Specifically, if recovery is needed, it necessitates two rounds of collaboration among the involved parties, rather than just one. This tradeoff underscores the balance between enhanced security and the potential for increased complexity in recovery situations.