More to Come...
The scope of “Magic Pennies” does not include the basic structure of a distributed ledger or how it can be immutable, important concepts we may cover in future videos.
One tricky issue Magic Pennies does introduce, but not resolve, is key management. Some users will lose their keys or have them stolen, and must be able to recover control of their accounts without the assistance of a central authority. With Sovrin there is no central authority, and even if there were, storing backups “in the castle” cannot be the answer as it re-creates the “honeypot” we’re trying to avoid in the first place.
Stay tuned for some creative and exciting advancements that address key management, to be announced soon.