• Title/Summary/Keyword: Cold wallet

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A study on QR code-based backup methods to strengthen the security of Cold wallet Purse (콜드월렛 지갑 보안 강화를 위한 QR코드 기반 백업 방안에 대한 연구)

  • Byoung Hoon Choi;JinYong Lee;Nam Hyun Koh;Sam Hyun Chun
    • The Journal of the Institute of Internet, Broadcasting and Communication
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    • v.23 no.6
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    • pp.21-26
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    • 2023
  • Recently, cryptocurrencies such as Ethereum and Bitcoin, which are called digital assets, Cryptocurrency has completely different characteristics from real assets and must be handled carefully and safely. But The disadvantage of digital assets is that anyone who knows the private key of the wallet can easily steal the digital assets. If the seed card is lost, stolen, or exposed when used, you can use the wallet by recovering the private key using the seed card acquired by someone else. In this paper We aim to safely protect encrypted assets by using QR codes when providing mnemonic words needed to create seed cards.

Secure Distributed Cryptocurrency Transaction Model Through Personal Cold Wallet (개인용 보안장치를 통한 안전한 분산형 암호 화폐 거래 모델)

  • Lee, Chang Keun;Kim, In-Seok
    • Journal of the Korea Institute of Information Security & Cryptology
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    • v.29 no.1
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    • pp.187-194
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    • 2019
  • Ever since the world's largest Bitcoin Echange, (Mt. Gox), was closed in March 2014 due to the series of hacking, still many other Exchages incl. recent Coinale in Korea have been attacked. Those hacking attempts never stopped and have caused significant threats to the overall industry of Crypto Currency and resulted in the loss of individual investors' asset. The DEX (Decentralized Exchange) has been proposed as a solution to fix the security problem at the Exchange, but still it is far away to resolve all issues. Therefore, this paper firstly analyzes security threats against existing Crypto Currency Exchanges and secondly derives security requirements for them. To do that it proposes a secure and distributed Crypto Currency Transaction Model through Personal Security devices as a solution. The paper also proves this new attempt by demonstrating its unique modelling; ultimately by adopting this modeling into Crypto Exchange is to avoid potential security threats.