SmartOTPs: An Air-Gapped 2-Factor Authentication for Smart-Contract Wallets

Kód výsledku v 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>

Výsledek na webu

<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>

Jazyk výsledku

angličtina

Název v původním jazyce

SmartOTPs: An Air-Gapped 2-Factor Authentication for Smart-Contract Wallets

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

SmartOTPs: An Air-Gapped 2-Factor Authentication for Smart-Contract Wallets

Popis výsledku anglicky

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.

Druh

D - Stať ve sborníku

CEP obor

—

OECD FORD obor

10201 - Computer sciences, information science, bioinformathics (hardware development to be 2.2, social aspect to be 5.8)

Projekt

<a href="/cs/project/8A20009" target="_blank" >8A20009: Verification and Validation of Automated Systems' Safety and Security</a><br>

Návaznosti

P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)<br>S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2020

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

Proceedings of the 2nd ACM Conference on Advances in Financial Technologies

ISBN

978-1-4503-8139-0

ISSN

—

e-ISSN

—

Počet stran výsledku

18

Strana od-do

145-162

Název nakladatele

Association for Computing Machinery

Místo vydání

New York City

Místo konání akce

New York City

Datum konání akce

21. 10. 2020

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

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