Argent wallet feedback required

[libert19]

Hi,

Has anyone used argent wallet (https://www.argent.xyz/), how would you compare it's security compared to hardware wallets?

[Charles-Tim]

This should be in altcoin board
First if all, Argent wallet is not a Bitcoin wallet, it is just an Ethereum wallet that can be used to stake, that is, it is a DeFi wallet. The wallet does not generate users seed phrase, it is a no seed phrase wallet.

Has anyone used argent wallet (https://www.argent.xyz/), how would you compare it's security compared to hardware wallets?

How can an online wallet be compared with a hardware wallets that have private key basically and totally offline.



The wallet also require phone number and email, this is not a privacy wallet at all.

Lastly, the wallet is claiming to be a noncustodial wallet, how can a no seed phrase or a no private key wallet be a noncustododial wallet, this is one of the lies from such wallets, users have no full control but lying to people they have full control over their asset.

[libert19]

This should be in altcoin board
First if all, Argent wallet is not a Bitcoin wallet, it is just an Ethereum wallet that can be used to stake, that is, it is a DeFi wallet. The wallet does not generate users seed phrase, it is a no seed phrase wallet.

Has anyone used argent wallet (https://www.argent.xyz/), how would you compare it's security compared to hardware wallets?

How can an online wallet be compared with a hardware wallets that have private key basically and totally offline.



The wallet also require phone number and email, this is not a privacy wallet at all.

Lastly, the wallet is claiming to be a noncustodial wallet, how can a no seed phrase or a no private key wallet be a noncustododial wallet, this is one of the lies from such wallets, users have no full control but lying to people they have full control over their asset.

I'm also trying to wrap my head around it.

Afaik, the phone and email are default guardians and they are used to confirm transactions.

If the argent was ceased to exist, you can withdraw your funds using trusted contacts: https://support.argent.xyz/hc/en-us/articles/360002733217-How-to-move-assets-out-of-Argent-using-another-Ethereum-wallet-AKA-the-Emergency-Kit-


Vitalik himself talked about it, don't think there are any lies.

[thepenguin]

This should be in altcoin board
First if all, Argent wallet is not a Bitcoin wallet, it is just an Ethereum wallet that can be used to stake, that is, it is a DeFi wallet. The wallet does not generate users seed phrase, it is a no seed phrase wallet.

Has anyone used argent wallet (https://www.argent.xyz/), how would you compare it's security compared to hardware wallets?

How can an online wallet be compared with a hardware wallets that have private key basically and totally offline.

https://i.imgur.com/7YBZlaG.png

The wallet also require phone number and email, this is not a privacy wallet at all.

Lastly, the wallet is claiming to be a noncustodial wallet, how can a no seed phrase or a no private key wallet be a noncustododial wallet, this is one of the lies from such wallets, users have no full control but lying to people they have full control over their asset.

Argent is a smart contract wallet. This allows it to be non-custodial and have no seed phrase. The recovery works through guardians - accounts you appoint to help with specific security functions. They could be friends, your hardware wallet, metamask. They can't access your private key and you can change them any time.

Vitalik wrote about why this type of recovery is the future: https://vitalik.ca/general/2021/01/11/recovery.html

Argent's security model is explained here: https://www.argent.xyz/blog/a-new-era-for-crypto-security/

The more technical specifications are here: https://github.com/argentlabs/argent-contracts/blob/develop/specifications/specifications.pdf

Argent is open source. Advantages over hardware wallets, aside from no seed phrase, are being able to use guardians as a multisig - approving untrusted transactions, and easy access to DeFi.

[elda34b]

The recovery works through guardians - accounts you appoint to help with specific security functions. They could be friends, your hardware wallet, metamask. They can't access your private key and you can change them any time.

That doesn't sound like a good idea. So the users would have to rely on third-party to recover their wallet? Sounds more like a custodial wallet then. IMO the seed recovery thing doesn't need to be removed. If people need to rely on third-party then the purpose of non-custodial wallet would be gone. What would happen if your recovery device is gone, your friend went missing and so on then.

[Bttzed03]

I don't feel comfortable using it because I got so used to having my seed phrase/private key in restoring to another wallet. The guardian system looks like an email recovery system to me. Features such as human readable address are nice though. Being able to freeze your Argent wallet using a guardian like hardware wallets should be given more highlight. You can also set yourself as the guardian.

[thepenguin]

The recovery works through guardians - accounts you appoint to help with specific security functions. They could be friends, your hardware wallet, metamask. They can't access your private key and you can change them any time.

That doesn't sound like a good idea. So the users would have to rely on third-party to recover their wallet? Sounds more like a custodial wallet then. IMO the seed recovery thing doesn't need to be removed. If people need to rely on third-party then the purpose of non-custodial wallet would be gone. What would happen if your recovery device is gone, your friend went missing and so on then.

It's decentralized and smart contract based. You can recover with your hardware wallets or metamask - no reliance on 3rd parties or Argent. Thread here on how it works in more detail: https://twitter.com/hasufl/status/1394635122041819141?s=20