A: Hi Misty60110,

Creating a TransferChain account is structurally similar to opening a cryptocurrency wallet. This is because the seed words are a structured, human-readable form of your account’s private key, and represent one of the most secure methods usable at this scale. Seed words can never be regenerated or changed. Indeed, if you lose your seed or if it is compromised, anyone with access to that seed phrase (i.e., your private key) can access all data associated with it. Methods that can be regenerated are usually application-layer tokens designed to replace login credentials, but these cannot be compared to the seed structure in terms of security or process management.

Metadata remains on the blockchain forever and is immutable, but not in an open or unprotected manner. Before writing metadata to the blockchain, we process it through three different operations, ultimately aiming to create a record that is provable in existence, but cannot be accessed, read, or interpreted by anyone except the owner of the data that produced the metadata.

The blockchain we use is observable but not public, multi-actor but not “open to anyone.” Defining it as hybrid would be most accurate. It is a unique method that combines features of both public and private blockchains. In no scenario can there be any negative outcome regarding privacy and security, because the core values of the design are security, privacy, preservation of data integrity, and liveness. We also plan to file a patent application for this design.

If you lose your seed and believe that someone who has obtained it knows how to use it, the most reasonable option on TransferChain would be to create a new domain(=new set of seed phrases for a new and empty cloud)and, if possible, transfer your data from your old domain to your new one as quickly as possible. (if applicable)

Kind regards,
— Mert | TransferChain 🔐