Multi-Factor Wallet Authentication for Accurate Transfer Verification
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Solution Overview
Problem
Existing self-custody tools for cryptographic tokens, such as hardware wallets, are complex and prone to errors in transaction verification due to small screens and buttons, leading to potential unauthorized transactions and incorrect transfers.
Innovation Solution
Implementing a key device with a supplemental interface for transaction verification, using multi-factor authentication to confirm transaction details through separate interfaces, ensuring accurate verification of addresses and amounts before proceeding with transfers.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If hardware wallets are used for self-custody of cryptographic tokens, then security is improved, but device complexity increases and ease of operation deteriorates due to small screens and buttons
Solution Approach 1:
The patent introduces a supplemental interface device as an intermediary between the hardware wallet and the user. This mediator displays transaction details in a larger, more readable format and provides additional verification capabilities, thereby improving ease of operation without compromising the security provided by the hardware wallet
2Volume of moving object
If hardware wallets with small screens are used, then portability is improved, but measurement precision deteriorates in verifying transaction addresses and amounts
Solution Approach 1:
The patent adds another dimension to the verification process by introducing a supplemental display interface. This secondary display provides enhanced visual information about transaction details including addresses and amounts, allowing users to verify with greater precision while the hardware wallet remains portable
3Reliability
If multi-factor authentication is implemented, then reliability is improved, but device complexity increases
Solution Approach 1:
The patent segments the authentication system into multiple independent factors (hardware key, supplemental interface verification, transaction details confirmation). Each factor operates independently but contributes to the overall security, allowing the system to achieve high reliability while keeping each individual component relatively simple
Data Source
AI summary
Systems and methods for multi-factor authentication are disclosed. In some examples, a system can receive a request for a transfer of an amount of a digital asset from a transferor to a transferee. The system can receive a first input through a first interactive user interface (UI) (that identifies at least a portion of the amount) to verify that at least the portion of the amount is correct, as a first factor of authentication for the transfer. The system can receive a second input through a second interactive UI (that identifies a first subset of a transferee address), and can verify that the second input matches the second subset of the transferee address, as a second factor of authentication for the transfer. The system can initiate the transfer of the amount from the transferor to the transferee in response to multi-factor authentication via the two factors of authentication.