Method for protecting digital asset private key and handling private key loss or identity data theft

Abstract

The invention discloses a method for protecting a digital asset private key and handling private key loss or identity data theft. The method comprises the steps of: generating identity data of a private key for the user to save after the private key is generated; generating a new private key-address pair when the private key of the user is lost or stolen; initiating a loss reporting transaction bythe user or a thief, and depositing a guarantee deposit; verifying whether a signature is correct, and determining that the present loss report is invalid and the deposit is not refunded if the signature is not correct; locking the loss reporting behavior as a delay period by means of a blockchain node, wherein a private key corresponding to a loss reporting new address cannot transfer assets while an original private key can transfer assets; and allowing the private key corresponding to the loss reporting new address to transfer assets after the delay period ends. The method does not need tobackup a private key mnemonic word, truly realizes the effect that ''the private key cannot come out of hardware'', significantly reduces the stolen risk of the private key, is easy to retrieve the assets after the private key is lost, avoids the loss of the assets due to the loss of the private key, can protect the assets for a period of time after the private key is stolen, and enhances the anti-theft performance of digital assets.

Description

technical field [0001] The present invention relates to a method for processing various digital assets established based on block chain technology, and in particular to a method for protecting private keys of digital assets and dealing with problems of loss of private keys or stolen identity data. Background technique [0002] According to the latest statistics, blockchain-based technology has been applied and popularized around the world. Currently, the most mainstream digital currency market based on blockchain technology has exceeded 100 billion US dollars, such as Bitcoin (BTC), Ethereum Bitcoin (ETH), Litecoin (LTC), Ripple (Ripple), etc. [0003] Blockchain is a series of associated data blocks generated by cryptographic methods. This data block contains a collection of information about a digital currency network transaction. This data block based on hash chain structure combines powerful computing power Guarantee the realization of a technical infrastructure with hi...

AI Technical Summary

Problems solved by technology

[0009] However, no matter what kind of solution is used, it cannot solve the fundamental problem of private key loss and private key theft. Due to technical loopholes and other reasons, the private key will be lost or stolen; if the private key and transaction signature are performed on the app side, the private key may be leaked during use due to improper user operations, mobile phone software and hardware vulnerabilities, etc.; The complete cold storage solution for private keys is also considered to be the safest private key storage solution at present. However, due to the unreliability of hardware, both manufacturers and experts of hardware wallets will recommend that users back up the mnemonic words of private keys offline to prevent When the hardware fails, the private key can be recovered through the mnemonic phrase. This is also the feature of many hardware wallets that "the private key does not come out of the hardware". However, in fact, there is no essential difference between backing up the mnemonic phrase and directly backing up the private key ( Because the mnemonic can directly restore the private key offline), it has not realized the true "private key does not come out of the hardware" feature