A threshold-based algorithm divides the secret among multiple parties, requiring a set number of them to combine their shares for access. Storing the secret in one hardware device centralizes it and does not require multiple shares. A passphrase policy might manage credentials across personnel but does not rely on sharing portions of the secret. Local encryption with unique passcodes isolates individual data instead of creating a unified threshold scheme.
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What is a threshold-based algorithm?
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How does a threshold-based algorithm differ from storing secrets in hardware security devices?
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