Web3 Recovery Mechanisms and User Preferences

Easwar Vivek Mangipudi, Panagiotis Chatzigiannis, Konstantinos Chalkias, Aniket Kate, Mohsen Minaei, Mainack Mondal

Abstract: In a Web3 (blockchain) setting, account recovery allows users to regain access to their accounts after losing their authentication credentials. Although recovery mechanisms are well-established and extensively analyzed in the context of Web2 systems, Web3 presents distinct challenges. Web3 account access is typically tied to cryptographic key pairs, and private keys are not entrusted to centralized entities. This design improves security, but significantly complicates the recovery process, making it difficult or even impossible for users to regain access after loss of keys. Given the critical role that recovery plays in ensuring long-term feasibility and trust in digital systems, a range of recovery mechanisms has been proposed to accommodate the unique properties of Web3. These mechanisms aim to help users manage key loss without introducing undue friction or risk. Although there has been an exponential increase in the use of cryptocurrency wallets in the last decade, the popularity and usage of the corresponding recovery mechanisms remain unclear. Furthermore, it is still unclear how users perceive these recovery mechanisms and what they expect from them. In this work, our objective is to empirically understand and analyze user perceptions of the various recovery mechanisms. To this end, we conducted a user survey of 331 participants and asked them to rate different mechanisms on usability, security, and availability. The results show interesting aspects of the user preferences, including their view of sharing keys among different devices and trusting their friends or family. Based on our findings, we provide insight and future directions for the developer and research community.

External IDs:dblp:journals/iacr/MangipudiCCKMM25