/biz/ - Business & Finance

>>55010967
First of all, the decryption happens inside the element on ANY ledger, not "your" ledger. The service is advertised as a backup that is recoverable even if you lose your device.

Second, I haven't seen anything that says that the ONLY way to decrypt them is inside of a Ledger SE. They are just using Shamir Secret Sharing, which is rather simple and well known (Trezor supports it too). All that is required is to possess a certain quorum of the shards, and the secret can be decrypted.