Enhancing Account Recovery for Low-Income Users: A Comparative Analysis of MFA with Shamir’s Secret Sharing and Secure Multi-Party Computation with Garbled Circuit

Based on various research, people in the world don't give emphasis to their phone's security, which leads them to cyberattacks. There are different reasons for their negligence. Starting from the security system’s complexity, not having the money to buy advanced security materials, not having access to advanced smartphones or data plans, to simply not thinking they can be a target of malicious hackers. This research talks about how we can use Multi-Factor Authentication integrated with Shamir’s Secret Sharing to provide secure and low-cost recovery for low-income users in urban areas. Shamir’s Secret Sharing ensures that the hacker will not learn the full secret unless he/she is able to identify all the shares. This research will also compare different methods like Secure Multi-Party Computation integrated with Garbled Circuit and see which way is more secure, user-friendly, and cost-effective, allowing users to use it with access to a limited infrastructure.