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Publication
Integrated Digital Wallet
| Name: | Description: | Size: | Format: | |
|---|---|---|---|---|
| 2.79 MB | Adobe PDF |
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Abstract(s)
Recently, blockchains and cryptocurrencies have gained more market share and have attracted a great deal of attention among the worldwide community. Banks, stock exchanges, financial institutions, and large companies are increasingly investing in this extremely lucrative digital market, which every day creates solutions, innovative products, and market infrastructures. It is impossible to interact with this universe without a digital wallet, which stores and transacts each user's assets.
WIT is no different and to assist its entry into this market, it has created this internship opportunity to develop a prototype for a digital wallet that allows operations to be performed on a blockchain while keeping the user's portfolio of digital assets. This implementation had to guarantee proper security and offer a user experience targeted at mainstream users, with the ultimate goal of being later integrated into any specific solution implemented under a blockchain.
This internship began with an extensive first analysis phase which helped to conclude that the real value of a wallet is the way it stores and manages its private keys. This conclusion meant a change of focus and led to a second phase of in-depth analysis to understand the most suitable and secure method for managing keys.
This report describes all the work conducted for ten months at WIT Software, which involves a considerable period of state-of-the-art research into digital wallets and then the design and implementation of the wallet prototype that integrates a Multi-Party Computation method, which has been identified as the most effective way of managing its private keys.
Description
Keywords
Digital wallet Key management system Multi-party computation