SmartOTPs: An Air-Gapped 2-Factor Authentication for Smart-Contract Wallets
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216305%3A26230%2F20%3APU138608" target="_blank" >RIV/00216305:26230/20:PU138608 - isvavai.cz</a>
Result on the web
<a href="https://dl.acm.org/doi/epdf/10.1145/3419614.3423257" target="_blank" >https://dl.acm.org/doi/epdf/10.1145/3419614.3423257</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1145/3419614.3423257" target="_blank" >10.1145/3419614.3423257</a>
Alternative languages
Result language
angličtina
Original language name
SmartOTPs: An Air-Gapped 2-Factor Authentication for Smart-Contract Wallets
Original language description
With the recent rise of cryptocurrencies, the security and management of crypto-tokens have become critical. We have witnessed many attacks on users, their software, or providers, which have resulted in significant financial losses. To remedy these issues, many wallet solutions have been proposed. However, these solutions often lack essential security features, usability, or do not allow users to customize their spending rules. In this paper, we propose SmartOTPs, a smart-contract cryptocurrency wallet framework that gives a flexible, usable, and secure way of managing crypto-tokens in a self-sovereign (i.e., non-custodial) fashion. The proposed framework consists of four components (i.e., an authenticator, a client, a hardware wallet, and a smart contract), and it provides 2-factor authentication (2FA) performed in two stages of interaction with the blockchain. To the best of our knowledge, our framework is the first one that utilizes one-time passwords (OTPs) in the setting of the public blockchain. OTPs are aggregated by a Merkle tree and hash chains in such a way that for each authentication only a short OTP (e.g., 16B-long) is transferred from the authenticator to the client. Such a novel setting enables us to make a fully air-gapped authenticator utilizing small QR codes or a few mnemonic words, while additionally offering resilience against quantum cryptanalysis. We have made a proof-of-concept basing on the Ethereum platform. Our cost analysis shows that the average cost of a transfer operation is comparable to existing 2FA solutions using smart contracts with multi-signatures.
Czech name
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Czech description
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Classification
Type
D - Article in proceedings
CEP classification
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OECD FORD branch
10201 - Computer sciences, information science, bioinformathics (hardware development to be 2.2, social aspect to be 5.8)
Result continuities
Project
<a href="/en/project/8A20009" target="_blank" >8A20009: Verification and Validation of Automated Systems' Safety and Security</a><br>
Continuities
P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)<br>S - Specificky vyzkum na vysokych skolach
Others
Publication year
2020
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Article name in the collection
Proceedings of the 2nd ACM Conference on Advances in Financial Technologies
ISBN
978-1-4503-8139-0
ISSN
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e-ISSN
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Number of pages
18
Pages from-to
145-162
Publisher name
Association for Computing Machinery
Place of publication
New York City
Event location
New York City
Event date
Oct 21, 2020
Type of event by nationality
WRD - Celosvětová akce
UT code for WoS article
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