Hello everyone, I am looking for partners to help me build in an incredible class of crypto seed phrase wallet devices that will change crypto self custody forever. I am a non coding systems architect. I am only on year 3 of my tech journey. I have a repository on GitHub and a website with some information. Email me at the address on the website. https://encryptvault.io email is firstname.lastname@example.org . You guys are going to love what I have in store. Be well.
It’s great to hear that you’re working on a crypto wallet. Is your project intended to be open-sourced or is it a startup idea still in development and “stealth mode”?
To better understand your project, could you please share what specific problem you plan to solve with your crypto wallet? Additionally, how does your implementation differentiate from existing wallets or running a software wallet on a trusted platform like a NitroPC?
Are you planning to implement a hot or cold wallet? I’m also curious if you want to use a NitroHSM or Nitrokey for storing the curve and signing transaction (PKCS#11) or whether you want to implement something for the Nitrokey 3 and the Trussed Framework.
I looked into your code on GitHub and some illustrations but could not really grasp your wallet idea.
For a seed to be stored in a secure way, a HSM and encrypted backup to a password manager seems to be a very easy and cost effective way. Automated syncing to many devices seems to be an anti-feature to me.
I made a longer reply, but it got kicked back for too many links. Please let me know if you received this.
EncryptVault.io : This is the official website for my idea. Please note that there are many details not outlined in the website, and we are no longer pursuing a patent out of respect for open-source community first principles.
The problems EncryptVault solves:
- The problem of not being able to take a picture of, nor save digitally, your crypto wallet seed phrases out of fear of malicious hackers gaining access to your information through data mining, brute force, malware.
- Losing your seed phrases to a fire, flood, tornado, or other act of God, or theft.
- Remembering a password that can cost you access to your wallets if you forget it.
- Losing your data due to device failure, damage, loss, or theft.
How EncryptVault will solve these issues:
- I would like to develop with Nitrokey, a USB connected, “cell phone” sized and styled device, with front and aft screens, and fore and rear camera (away from user). This EncryptVault device would perform the following:
- Allow users to enter seed phrases into the device for storage where it is encrypted with a set of RSA 4096 keys
- Each wallet seed phrase is then converted into an encrypted QR code which can be stored on on any digital device including but not limited to: the cloud, in vaults, with trusted third parties, cell phones, computers, paper storage, USBs. Each QR code has a partially user defined label and is either red for un-encrypted, or green for encrypted with a “cipher identifier” (does not give any information about cipher except to match RSA keys). This identifyer is a uniqe code that is randomly produced which is saved as part of the file name and trasnfered over to the QR code when produced by the device.
- The device can then create m of n derivatives of the RSA decryption (Red) QR which can be stored with trusted third parties, including the Encryptvault foundation which can be extracted with proof of identity to assist in regeneration of the cipher. I am thinking that it could be even stored on the blockchain through Cardano’s Midnight protocol which is private. This can be done in a centralized fashion at first and then turned over to a DAO once governance is established.
- The encrypt vault device can be attached via USB to any digital device to download encrypted QR codes for redundant storage. Only encrypted QR codes can pass through the green usb port to the host device due to the design of the chipset in the EV (EncryptVault) device.
- The aft screen also displays encrypted QR codes for scanning by other devices for redundant storage. Only green (encrypted) QR codes can be displayed in the aft screen due to the design of the chipset.
- The user screen can be used to display the seed phrase for the RSA red (decryption) QR code so that the user can write it down in an analog fashion. There is also a locked Red USB port which can be used to store both the raw RSA decryption key and QR code to a proprietary Encrypted USB drive similar to Apricorn for redundant storage.
This approach will revolutionize seed phrase storage and great diminish the chance of user lost wallet seed phrases. The user simply need take a photo of an encrypted green QR code with the EncryptVault device, and the unit will verify user authorization and decrypt the QR code for wither use or further storage. The interesting thing about this process is theoretically, one could photograph several QR codes and store them as a compendium under a single QR code!
I would like to partner with Nitrokey to produce a proprietary NAS device which will store copies of the encrypted QR codes anywhere in the world! Users would simply attach their device to a computer with internet access, and it would be paired with 1 to many EV NASs that could be located at any trusted third-party location with electric and internet connection. M of N encrypted QR codes representing the RSA decryption key would be automatically sent to their perspective NASs through an m of n algorithm. This spreads the risk of losing access the RSA cipher while maintaining security through paired NAS and EV devices.
Multifactor authorization will be a part of the device, camera face recog, fingerprint scan, pin, and host authorization will prevent user from being locked out of their device.
Through proof of identity and a QR code which the device produces upon startup with serial number and m of n code, user can regenerate their device from NASs or EV and re aggregate the key to their device for any wallet.
I hope that this has peaked your interest. This is going to be my life’s work until it is complete. I truly hope that you and Nitrokey would be interested in pursuing this with me further. Simplicity through design, intuitive GUI, and chipsets. Nitrokey already makes similar devices. I hope that we can work together. EV will be open sourced. I have a github which I will leave here a link, it is just the start and is buggy. https://github.com/johnny5cfw/encryptvault_ver_P-1A
The key issue with the security of all crypto currencies is the protection of the private key. If you loose the private key (or at least loose control over the private key) you are done.
That is pretty common with other high-value private keys, like CA keys. That is why you typically use a hardware device, where you control the private key physically and logically.
The Nitrokey HSM is such a device and it even supports derived keys similar to BIP32. And it supports secure key backup through key domains (DKEK and XKEK) as well as n-of-m authentication schemes.
See chapter 2.19 in the user manual or the deriveECKey.js script in the SmartCard-HSM workspace.