As far as I have understood the point of this service, it encrypts the private key and divide it into multiple parts to store it safely on a the servers of a partner company. Therefore a potential user has nothing to do to manage that, the whole process is managed by someone else.
Multisig allows us to share across multiple devices funds. So not one key is used but multiple keys, and the burden is on the user to make sure everything is OK as time goes.
I never used a provider like Casa so there is something I may be missing, however I see the service provided by Ledger totally different where the responsibility is shift to Ledger and its partner to backup your key. As far as I know with multisig the responsibility is still ours. At least in my case I am solely responsible if my geographically distributed backup fails, I can't cry.
So for my parents I think the service of Ledger is interesting. For me I wouldn't need it.
alex /
npub15q…dn8x0
2023-05-25 02:22:01
in reply to nevent1q…la08
Author Public Key
npub15q54ducvx4l9e9hwpzauz6cvdezjh5q0t7m456mu46sp5wlsh2tqvdn8x0Published at
2023-05-25 02:22:01Event JSON
{
"id": "f803f0801ef92bb9c6f10699a02b5e96e4774eb31f8a5002a8d5b12d074a08f1",
"pubkey": "a02956f30c357e5c96ee08bbc16b0c6e452bd00f5fb75a6b7caea01a3bf0ba96",
"created_at": 1684981321,
"kind": 1,
"tags": [
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],
[
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"87eb2e804de7aef6eaff1c2bcb52d3ee70fc922c378105394ada6d4aca43fc5e"
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[
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[
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[
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[
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],
"content": "As far as I have understood the point of this service, it encrypts the private key and divide it into multiple parts to store it safely on a the servers of a partner company. Therefore a potential user has nothing to do to manage that, the whole process is managed by someone else.\nMultisig allows us to share across multiple devices funds. So not one key is used but multiple keys, and the burden is on the user to make sure everything is OK as time goes.\nI never used a provider like Casa so there is something I may be missing, however I see the service provided by Ledger totally different where the responsibility is shift to Ledger and its partner to backup your key. As far as I know with multisig the responsibility is still ours. At least in my case I am solely responsible if my geographically distributed backup fails, I can't cry.\nSo for my parents I think the service of Ledger is interesting. For me I wouldn't need it.",
"sig": "df49bb485f5349374f9425b1739ff07863455f9f1dffca220a7f20be0128553df14c031bd62e8c63ae34de1f8c35c4138c2489dad1a704eaf40c14f00307ee87"
}