What is Self-Custody?
Self-custody allows users to directly control access to and management of their digital assets, while also requiring them to assume full responsibility for safeguarding access credentials and asset security.
Understanding Self-Custody from Traditional Custody
Custody involves institutions such as banks and exchanges holding assets on behalf of users. Users typically must verify their identity with the institution to access their accounts, and the institution may restrict access due to risk controls, market anomalies, or operational issues. In contrast, self-custody does not rely on intermediaries to grant permissions; control over assets remains directly with the user.
Transfer of Control and Responsibility
A home safe can help illustrate self-custody: it allows the owner to directly control the items inside, but also places the responsibility for theft prevention, storage, and recovery on the owner. The same applies to digital assets; reducing intermediary control does not eliminate risk, but rather means that security responsibility primarily falls on the user.
The Role of Self-Custody Wallets
Self-custody wallets are used to manage the permissions required to access digital assets. In the wallet described, the wallet service provider cannot access or control the assets on behalf of the user, as the private key is held by the user. This grants users more direct digital ownership, but they must securely protect their private keys to prevent loss or leakage.
Original Tutorial
https://learn.metamask.io/zh-CN/lessons/what-is-a-self-custody-wallet
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