The Fireblocks Non-Custodial Wallet (NCW) solution also provides a unique Full Key Takeover feature, which enables end users to export the entire private key.
This feature makes the solution censorship-resistant since end users always have control over their full key material. This is especially useful in the event that Fireblocks or the customer goes out of business or decides to discontinue the service. In this scenario, the end user can still access their funds and continue to transact on the blockchain network.
It is important to note that the Full Key Takeover feature is optional, and not all businesses may want to implement it. For those who do choose to use this feature, it is crucial to take all necessary precautions to ensure the security of the private key.
Takeover security considerations
While the Full Key Takeover feature provides end users with complete control over their funds, it also introduces some potential security risks. Once the private key is exported, Fireblocks no longer has control over the security of the key material. This means that the end user must take full responsibility for securing the private key and ensuring it is not lost or stolen.
The complete private key that has been exported can be brought into any third-party wallet application that supports private key imports, such as MetaMask for Ethereum and Electron Wallet for Bitcoin
Updated about 1 month ago