Completion Device Signing for Secure Crypto Protocol Access
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Solution Overview
Problem
Conventional cryptographic interaction methods, such as hard and soft wallets, fail to provide secure and convenient access to cryptographic funds across various locations, risking loss or hacking, especially as cryptocurrency usage increases.
Innovation Solution
A completion device that establishes a wireless connection with a source device, verifies the request against a pre-configured protocol, signs the interaction using cryptographic hardware, and sends the signed protocol, ensuring secure and authorized transactions.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If a hard wallet is used for physical storage of private keys, then security is heightened due to air gap, but the risk of loss increases if the hard wallet is lost or damaged
Solution Approach 1:
The system divides the cryptographic interaction into multiple segments: the source device initiates the protocol, the completion device holds the private key in air-gapped isolation, and a smart contract on the blockchain mediates the transaction. This segmentation allows the private key to remain secure in isolation while still enabling transactions through coordinated interaction between devices and blockchain smart contracts.
2Ease of operation
If a soft wallet is used for software storage of private keys, then accessibility is improved, but the risk of hacking increases due to internet connection
Solution Approach 1:
The completion device acts as an intermediary between the user's accessible interface and the blockchain network. The source device (which can be a soft wallet or mobile device) can initiate transactions conveniently, but the actual cryptographic signing occurs on the completion device that maintains air-gapped security. This intermediary role allows the system to combine the accessibility of soft wallets with the security of hard wallets.
3Device complexity
If conventional cryptographic methods are used, then device simplicity is maintained, but the ability to access funds securely across various locations is limited
Solution Approach 1:
The completion device is designed with universal functionality to complete various types of cryptographic interaction protocols across different blockchain networks and applications. It can store multiple private keys, support different cryptographic algorithms, and interact with various source devices (mobile phones, computers, ATMs, vending machines). This multi-functionality enables secure cryptocurrency access across diverse locations and applications without requiring different devices for each use case.
Data Source
AI summary
A computer-implemented method for completing self-executing cryptographic interaction protocols using a completion device is disclosed. The method comprises: establishing, by the completion device, a wireless connection with a source device; receiving, from the source device, a request for completion of a self-executing cryptographic interaction protocol; comparing the information that identifies the self-executing cryptographic interaction protocol or the source device to a configuration stored in the completion device; and based on the comparing resulting in a match: outputting, via an output component of the completion device, a first indication of the match between the information and the configuration; signing the self-executing cryptographic interaction protocol using a digital signature stored in a cryptographic hardware element of the completion device; and sending the signed self-executing cryptographic interaction protocol to the source device.