Secure Storage of Crypto Wallet Seed Phrase Using ECC and Splitting Technique
<p dir="ltr">Blockchain technology enables users to control and record their cryptocurrency transactions through the use of digital wallets. As the use of blockchain technology and cryptocurrency wallets continues to grow in popularity, the potential for attacks on these wallets incr...
محفوظ في:
| المؤلف الرئيسي: | |
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| مؤلفون آخرون: | , |
| منشور في: |
2024
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| الموضوعات: | |
| الوسوم: |
إضافة وسم
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| _version_ | 1864513542603931648 |
|---|---|
| author | Syeda Tayyaba Bukhari (21842078) |
| author2 | Muhammad Umar Janjua (21842081) Junaid Qadir (16494902) |
| author2_role | author author |
| author_facet | Syeda Tayyaba Bukhari (21842078) Muhammad Umar Janjua (21842081) Junaid Qadir (16494902) |
| author_role | author |
| dc.creator.none.fl_str_mv | Syeda Tayyaba Bukhari (21842078) Muhammad Umar Janjua (21842081) Junaid Qadir (16494902) |
| dc.date.none.fl_str_mv | 2024-05-30T12:00:00Z |
| dc.identifier.none.fl_str_mv | 10.1109/ojcs.2024.3398794 |
| dc.relation.none.fl_str_mv | https://figshare.com/articles/journal_contribution/Secure_Storage_of_Crypto_Wallet_Seed_Phrase_Using_ECC_and_Splitting_Technique/29715584 |
| dc.rights.none.fl_str_mv | CC BY 4.0 info:eu-repo/semantics/openAccess |
| dc.subject.none.fl_str_mv | Information and computing sciences Cybersecurity and privacy Data management and data science Seed phrase storage crypto wallets blockchain security mnemonic phrase master phrase Blockchains Security Elliptic curve cryptography Cryptocurrency Encryption Bitcoin Peer-to-peer computing |
| dc.title.none.fl_str_mv | Secure Storage of Crypto Wallet Seed Phrase Using ECC and Splitting Technique |
| dc.type.none.fl_str_mv | Text Journal contribution info:eu-repo/semantics/publishedVersion text contribution to journal |
| description | <p dir="ltr">Blockchain technology enables users to control and record their cryptocurrency transactions through the use of digital wallets. As the use of blockchain technology and cryptocurrency wallets continues to grow in popularity, the potential for attacks on these wallets increases, as attackers seek to gain access to the large sums of cryptocurrency they contain. To mitigate these risks, it is important to conduct thorough security evaluations of wallets and implement strong protective measures. In recent years, there have been several incidents involving significant losses of cryptocurrency in crypto-wallets, and in this research, a comprehensive evaluation of seed phrase and password attack methods found in the published literature was conducted, and the topic was advanced by addressing the question of whether seed phrases are hackable. The research aims to use the elliptic-curve cryptography (ECC) encryption algorithm for storing the seed phrase online by encrypting the seed phrase and using the splitting technique to store the crypto wallet seed phrase. It was concluded that it is only possible to hack a seed phrase if a significant portion of it is already known, but even this would require a significant amount of time and computational power.</p><h2>Other Information</h2><p dir="ltr">Published in: IEEE Open Journal of the Computer Society<br>License: <a href="https://creativecommons.org/licenses/by/4.0/deed.en" target="_blank">https://creativecommons.org/licenses/by/4.0/</a><br>See article on publisher's website: <a href="https://dx.doi.org/10.1109/ojcs.2024.3398794" target="_blank">https://dx.doi.org/10.1109/ojcs.2024.3398794</a></p> |
| eu_rights_str_mv | openAccess |
| id | Manara2_7a21ada2dad12f9204333c366a99f4f9 |
| identifier_str_mv | 10.1109/ojcs.2024.3398794 |
| network_acronym_str | Manara2 |
| network_name_str | Manara2 |
| oai_identifier_str | oai:figshare.com:article/29715584 |
| publishDate | 2024 |
| repository.mail.fl_str_mv | |
| repository.name.fl_str_mv | |
| repository_id_str | |
| rights_invalid_str_mv | CC BY 4.0 |
| spelling | Secure Storage of Crypto Wallet Seed Phrase Using ECC and Splitting TechniqueSyeda Tayyaba Bukhari (21842078)Muhammad Umar Janjua (21842081)Junaid Qadir (16494902)Information and computing sciencesCybersecurity and privacyData management and data scienceSeed phrase storagecrypto walletsblockchainsecuritymnemonic phrasemaster phraseBlockchainsSecurityElliptic curve cryptographyCryptocurrencyEncryptionBitcoinPeer-to-peer computing<p dir="ltr">Blockchain technology enables users to control and record their cryptocurrency transactions through the use of digital wallets. As the use of blockchain technology and cryptocurrency wallets continues to grow in popularity, the potential for attacks on these wallets increases, as attackers seek to gain access to the large sums of cryptocurrency they contain. To mitigate these risks, it is important to conduct thorough security evaluations of wallets and implement strong protective measures. In recent years, there have been several incidents involving significant losses of cryptocurrency in crypto-wallets, and in this research, a comprehensive evaluation of seed phrase and password attack methods found in the published literature was conducted, and the topic was advanced by addressing the question of whether seed phrases are hackable. The research aims to use the elliptic-curve cryptography (ECC) encryption algorithm for storing the seed phrase online by encrypting the seed phrase and using the splitting technique to store the crypto wallet seed phrase. It was concluded that it is only possible to hack a seed phrase if a significant portion of it is already known, but even this would require a significant amount of time and computational power.</p><h2>Other Information</h2><p dir="ltr">Published in: IEEE Open Journal of the Computer Society<br>License: <a href="https://creativecommons.org/licenses/by/4.0/deed.en" target="_blank">https://creativecommons.org/licenses/by/4.0/</a><br>See article on publisher's website: <a href="https://dx.doi.org/10.1109/ojcs.2024.3398794" target="_blank">https://dx.doi.org/10.1109/ojcs.2024.3398794</a></p>2024-05-30T12:00:00ZTextJournal contributioninfo:eu-repo/semantics/publishedVersiontextcontribution to journal10.1109/ojcs.2024.3398794https://figshare.com/articles/journal_contribution/Secure_Storage_of_Crypto_Wallet_Seed_Phrase_Using_ECC_and_Splitting_Technique/29715584CC BY 4.0info:eu-repo/semantics/openAccessoai:figshare.com:article/297155842024-05-30T12:00:00Z |
| spellingShingle | Secure Storage of Crypto Wallet Seed Phrase Using ECC and Splitting Technique Syeda Tayyaba Bukhari (21842078) Information and computing sciences Cybersecurity and privacy Data management and data science Seed phrase storage crypto wallets blockchain security mnemonic phrase master phrase Blockchains Security Elliptic curve cryptography Cryptocurrency Encryption Bitcoin Peer-to-peer computing |
| status_str | publishedVersion |
| title | Secure Storage of Crypto Wallet Seed Phrase Using ECC and Splitting Technique |
| title_full | Secure Storage of Crypto Wallet Seed Phrase Using ECC and Splitting Technique |
| title_fullStr | Secure Storage of Crypto Wallet Seed Phrase Using ECC and Splitting Technique |
| title_full_unstemmed | Secure Storage of Crypto Wallet Seed Phrase Using ECC and Splitting Technique |
| title_short | Secure Storage of Crypto Wallet Seed Phrase Using ECC and Splitting Technique |
| title_sort | Secure Storage of Crypto Wallet Seed Phrase Using ECC and Splitting Technique |
| topic | Information and computing sciences Cybersecurity and privacy Data management and data science Seed phrase storage crypto wallets blockchain security mnemonic phrase master phrase Blockchains Security Elliptic curve cryptography Cryptocurrency Encryption Bitcoin Peer-to-peer computing |