🧩Plan Shares
Understanding the different plan shares in Inheriti®
By understanding the various shares within your Inheriti® plan, you ensure robust protection and flexible recovery options for your digital assets, making it tailored to your needs and preferences.
When you create a protection plan, Inheriti® secures your data by splitting it into multiple encrypted pieces, known as plan shares. But what types of plan shares are created, and how do they function within your overall plan?
This page explores the different types of plan shares, including Validator Shares, Beneficiary Shares, Merge Authority Shares, Cold Shares, Mobile Shares, and Recovery Shares.
Each type serves a specific purpose, ensuring that your data is not only protected but also accessible under the right conditions only. Let’s dive into the details of each to understand how they contribute to securing your digital assets.
Types of shares of a protection plan
Validator Share
The Validator Share acts as a critical security mechanism within your protection plan. It remains securely stored on the blockchain and is only released under the specified conditions of a plan's activation methods, ensuring that plan activation follows your predefined criteria.
This share helps validate the merging process of other shares, ensuring that all actions are authorized and in line with the owner's intentions.
Beneficiary Shares
Beneficiary Shares are all shares distributed among the individuals you designate as beneficiaries.
These shares contain parts of your encrypted data but are not sufficient on their own to access the information.
They ensure that no single beneficiary can access the information alone, safeguarding against unauthorized data retrieval.
Merge Authority Share vs Regular Plan Shares
In your protection plan, one of the critical roles is that of the Merge Authority, the individual designated to initiate the merging process.
This distinction creates two specific types of beneficiary shares within your plan:
Merge Authority Share: This share is uniquely assigned to the Merge Authority. It empowers them to start the merging process of all shares, facilitating access to the protected data. This share is essential for activating the retrieval of encrypted information.
Regular Plan Shares: Held by other beneficiaries, these shares are crucial for data recovery but do not have the authority to initiate the merging process. They can only participate in the recovery process when the Merge Authority activates the merge.
These roles ensure a balanced distribution of power within the plan, safeguarding against unauthorized access and ensuring that the merging process is executed under controlled and intended conditions.
Cold Shares vs Mobile Shares
When setting up your protection plan, you have the option to choose between two types of storage for your beneficiaries their shares: SafeKey Pro for Cold Shares and SafeKey Mobile for Mobile Shares.
Each type serves a distinct purpose and offers different benefits depending on your security needs and accessibility preferences.
Cold Shares: Stored using SafeKey Pro, Cold Shares provide the highest level of security by keeping your encrypted data offline. This method is ideal for those who prioritize maximum security and are concerned about online threats. Cold storage ensures that your shares are physically isolated from the internet, protecting them from cyber attacks and unauthorized online access.
Mobile Shares: For those who need more flexibility and accessibility, Mobile Shares stored via the SafeKey Mobile app are an alternative choice. This option allows you to carry your encrypted shares with you and claim or release them easily from your mobile device.
These different options allow you to tailor your protection plan to fit your lifestyle and security preferences, ensuring that you have the right balance of safety and accessibility for your digital assets.
Recovery Shares (optional)
Recovery Shares are stored on the blockchain together with the Validator Share and provide an additional safety net for your protection plan. They are optional but highly recommended, especially in complex plans with multiple beneficiaries.
In case a Beneficiary Share is lost or compromised, Recovery Shares can be used to complete the data recovery process, ensuring that your data can still be accessed under the designed conditions.
How plan shares work together
The interplay between these different shares forms the backbone of your protection plan’s security.
Each type of share has a distinct role, ensuring that data access is both secure and compliant with your setup. Validator Shares ensure proper authorization, Beneficiary Shares distribute access, Merge Authority Shares control the merging process, and Recovery Shares provide redundancy.
To set up your protection plan effectively:
Determine the number and role of beneficiaries for your plan.
Decide which SafeKey each beneficiary will use, based on your security needs and convenience.
Opt for Recovery Shares to safeguard against unexpected scenarios and lost shares.
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