Partial Private Key Management for Blockchain Security
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
Existing blockchain systems face challenges in securing private keys, particularly when interacting with third-party decentralized applications, as users must manage their own private keys, risking loss or compromise, and relying on trusted third-parties introduces security risks.
Innovation Solution
Implementing a partial private key management service where users store a first share of the private key on their device and a second share is stored in a custodial digital wallet, requiring both shares for blockchain operations, thus securing assets even if one partial key is compromised.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If users manage their own private keys, then security is improved (no third-party access), but the management burden on users increases and risk of loss or compromise intensifies
Solution Approach 1:
The private key is segmented into multiple partial private keys distributed across different storage locations (user device and remote server). Each partial key alone is insufficient, but together they enable blockchain operations. This segmentation resolves the contradiction by reducing individual key management burden while maintaining collective security.
Solution Approach 2:
A platform service acts as an intermediary that coordinates between the user's local partial key and the remotely stored partial key. The intermediary manages the key shares and facilitates operations without requiring users to directly manage the complete private key, thus reducing management burden while preserving security through distributed key custody.
2Adaptability or versatility
If users interact with third-party decentralized applications, then functionality and versatility are improved, but the risk of security breach increases
Solution Approach 1:
By segmenting the private key into partial keys stored in different locations, the system enables safe interaction with multiple third-party applications. Each interaction can utilize the distributed key structure without exposing the complete private key, thus maintaining versatility while reducing security breach risk through inherent key distribution.
3Reliability
If a trusted third-party manages the private key, then the risk of loss is reduced, but the risk of compromise during interactions with third-party applications persists
Solution Approach 1:
The private key is divided into partial keys where one portion is stored locally by the user and another portion is stored remotely by the platform service. This segmentation protects against loss through remote backup while limiting compromise risk because neither party holds the complete private key, and interactions with third-party applications can proceed without exposing either partial key alone.
Data Source
AI summary
Methods and system for managing partial private keys for cryptography-based, storage applications used in blockchain operations and/or facilitating secure authentication when conducting blockchain operations using cryptography-based, storage applications. For example, the methods and system may perform a plurality of blockchain operations for digital assets stored in a first cryptography-based, storage application, wherein the first cryptography-based, storage application corresponds to a first partial private key, and wherein the first partial private key is stored on a first user device, and wherein the second partial private key is not accessible to platform service facilitating the first cryptography-based, storage application.