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San Diego based Airbitz today released the first “foolproof” bitcoin wallet password recovery process called “Password Recovery 2.0”. It allows Airbitz users and Airbitz SDK-powered app users to more easily recover a forgotten password to their private data using two-key authentication.
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The process works as follows: as a user sends the first key to their own email address, the device saves a copy as well. The Airbitz servers blindly store the encrypted second key, which the developers say makes the two keys useless without each other, ... (read more)