Sharded Private Key Wallet Access via Platform and App Credentials
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Solution Overview
Problem
Existing blockchain wallet security systems face challenges in securely maintaining and accessing wallets, particularly due to the risk of malicious activities associated with private key exposure and insecure storage of recovery phrases.
Innovation Solution
The implementation of a computer-implemented method that uses sharded private keys, where a private key is split into multiple portions encrypted with different credentials, allowing secure access to wallets maintained by a centralized platform on a blockchain.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If a private key is stored securely with a centralized platform, then wallet security is improved, but user access convenience deteriorates
Solution Approach 1:
The private key is segmented into multiple portions (first portion and second portion) that are stored separately. The first portion is encrypted and stored by the centralized platform, while the second portion is encrypted with application credentials. This segmentation allows the system to maintain security through distributed storage while enabling access when both portions are combined, thus resolving the contradiction between security and access convenience.
2Adaptability or versatility
If recovery phrases are made accessible for user recovery, then wallet recoverability is improved, but security against malicious access deteriorates
Solution Approach 1:
The recovery mechanism is extracted from the traditional single private key model. Instead of providing a single recoverable private key or recovery phrase, the system extracts the private key into multiple encrypted portions that cannot be independently recovered. The first portion requires platform credentials and the second portion requires application credentials, making it impossible for malicious actors to recover the wallet through single-point compromise while maintaining legitimate recovery capabilities.
3Extent of automation
If private keys are shared for platform maintenance, then platform control capability is improved, but security against malicious activity deteriorates
Solution Approach 1:
The system performs preliminary action by pre-encrypting the first portion of the private key with platform credentials before any transaction occurs. This allows the centralized platform to maintain control capability through the ability to decrypt and use the first portion when necessary, while the fact that the second portion requires separate application credentials prevents malicious activity even if platform credentials are compromised. The control capability is established in advance through the encryption scheme.
Data Source
AI summary
Certain aspects of the present disclosure provide techniques for securely accessing a wallet maintained by a centralized platform on a blockchain. An example method generally includes receiving a request to access one or more wallets on a blockchain. Generally, the request includes an authorization code associated with a controlling party associated with the one or more wallets and user credentials associated with the controlling party. A first portion of a private key is decrypted based on the authorization code and a salt associated with the user credentials associated with the controlling party, and a second portion of the private key is decrypted based on credentials associated with an application through which the wallet is accessed. Access to the one or more wallets is granted based on the decrypted first portion and the decrypted second portion of the private key.