Secure Crypto currency Transaction using Elliptic Curve Digital Signature Algorithm for Storing Wallets
Keywords:
Hardware Crypto wallets; Crypto currency; Bitcoins; Block chain technology; Elliptic Curve DSA; SHA 256; Crypto attacks.Abstract
Crypto currency has become a universal currency. Though certain countries restrict its usage and plans to create their own crypto currency, the prevalence of the existing crypto currencies such as Bitcoin and their values are remarkable. Crypto currencies along with blockchain technology enables the anonymity of users, decentralization but with security and reliability. The security of encrypted wallets is becoming increasingly important as the overall value of digital currency increases. The hardware only wallets are secure somehow but it is not likely to have convenience of software-based wallets. Similarly, the software wallets are handy but have cyber vulnerabilities. In this paper, a hardware based crypto wallet for storage and transaction purposes is proposed by using encryption techniques. The main objective is to build a safe, secure, and durable wallet for storing the crypto currency and to maintain a ledger of the transactions which in turn increases the wallet’s security and the convenience of using it for an average consumer. The remote access will be available when the wallet is online. Hence for authentication, we are using Elliptic Curve Digital Signature Algorithm (ECDSA). The authenticity of the data and credibility of user’s credential can be proved with this technique.
Downloads
References
S. Nakamoto, 2008. Bitcoin: A Peer-to-Peer Electronic Cash System. Decentralized business review pp.1-9,
Coindesk Bitcoin price websitehttps://www.coindesk.com/price/bitcoin/[Last Accessed 13th December 2023].
I. Miers, C. Garman, M. Green and A. D. Rubin, 2013. Zerocoin: Anonymous Distributed E-Cash from Bitcoin. In 2013 IEEE Symposium on Security and Privacy, Berkeley, CA, USA, pp. 397-411.
Z. Zheng, S. Xie, H. Dai, X. Chen and H. Wang, 2017. An Overview of Blockchain Technology: Architecture, Consensus, and Future Trends. In 2017 IEEE International Congress on Big Data (BigData Congress), Honolulu, HI, USA, pp. 557-564.
M. Conti, E. Sandeep Kumar, C. Lal and S. Ruj, 2018. A Survey on Security and Privacy Issues of Bitcoin. IEEE Communications Surveys & Tutorials, 20(4), pp. 3416-3452, Fourthquarter doi: 10.1109/COMST.2018.2842460.
D. Rai, M.P. Shetty, G.L. Alva, A. Hedge and M. Shiran, 2018. Wallet for Bitcoin Cryptocurrency. International Research Journal of Engineering and Technology, 05(07), pp.2465-2467.
S. Ebrahimi, P. Hasanizadeh, S.M. Aghamirmohammadali and A. Akbari, 2021. Enhancing Cold Wallet Security with Native Multi-Signature schemes in Centralized Exchanges. 23, pp.1-13.16.
S. Suratkar, M. Shirole and S. Bhirud, 2020. Cryptocurrency Wallet: A Review. In 2020 4th International Conference on Computer, Communication and Signal Processing (ICCCSP), Chennai, India, pp. 1-7.
H. Rezaeighaleh, 2020. Improving Security of Crypto Wallets in Blockchain Technologies. Electronic Theses and Dissertations.
M. Azman and K. Sharma, 2020. HCH DEX: A Secure Cryptocurrency e-Wallet & Exchange System with Two-way Authentication. In 2020 Third International Conference on Smart Systems and Inventive Technology (ICSSIT), Tirunelveli, India, pp. 305-310.
Diego Geroni, 2021 Different Types Of Crypto Wallets – Explained https://101blockchains.com/types-of-crypto-wallets/[Last Accessed 13th December 2023].
“Paper Wallet: A Crypto Relic or Still 一 Relevant?” 2022 Available: https://learn.bybit.com/crypto/crypto-paper-wallet/ [Last Accessed 13th December 2023].
M. Vasek, J. Bonneau, R. Castellucci, C. Keith, and T. Moor, 2017. The Bitcoin Brain Drain: Examining the Use and Abuse of Bitcoin Brain Wallets. Lecture Notes in Computer Science, 10, pp.609-618.
Trezor, 2020. https://www.fxempire.com/crypto/wallets/trezor. [Last Accessed 13th December 2023].
M.S. Pedro, V. Servant, C. Guillemet, 2019. Practical side-channel attack on a security device, https://ieeexplore.ieee.org/document/9021685
V. Bhavsar, A. Kadlak and S. Sharma, 2018. Study on Phishing Attacks, International Journal of Computer Applications, 182, pp. 27-29. 10.5120/ijca2018918286.
G. Karame, E. Androulaki and S. Capkun, 2012. Double-spending fast payments in Bitcoin. Proceedings of the ACM Conference on Computer and Communications Security, pp. 906-917.
F. A. Aponte-Novoa, A. L. S. Orozco, R. Villanueva-Polanco and P. Wightman, 2021. The 51% Attack on Blockchains: A Mining Behavior Study. IEEE Access, 9, pp. 140549-140564, 2021, doi: 10.1109/ACCESS.2021.3119291.
A. G. Khan, A. H. Zahid, M. Hussain and U. Riaz, 2019. Security of Cryptocurrency Using Hardware Wallet And QR Code. In 2019 International Conference on Innovative Computing (ICIC), Lahore, Pakistan, pp. 1-10, doi: 10.1109/ICIC48496.2019.8966739.
S. Aggarwal and N. Kumar, 2021. Chapter Twenty-Attacks on blockchain. Advances in Computers, Elsevier, 121, pp:399-410.
H. Rezaeighaleh and C. C. Zou, 2019. New Secure Approach to Backup Cryptocurrency Wallets. In 2019 IEEE Global Communications Conference (GLOBECOM), Waikoloa, HI, USA, pp. 1-6.
“BlueWallet Crypto Wallet” Marco Monroy Robles, 2023 Available: https://money.com/bluewallet-crypto-wallet-review/ [Last Accessed 13th December 2023].
S. P. Gupta, K. Gupta and B. R. Chandavarkar, 2021. The Role of Cryptography in Cryptocurrency. In 2021 2nd International Conference on Secure Cyber Computing and Communications (ICSCCC), Jalandhar, India, pp. 273-278.
B.K. Kikwai, 2017. Elliptic Curve Digital Signatures and their application in the Bitcoin Crypt-currency transactions. International Journal of Scientific and Research Publications, 7(11).
SHA-2 Standard, National Institute of Standards and Technology (NIST), Secure Hash Standard, FIPS PUB 180-2, www.itl.nist.gov/fipspuhs/fip180-2.htm
N. Sklavos and O. Koufopavlou, 2003. On the hardware implementations of the SHA-2 (256, 384, 512) hash functions. Proceedings of the 2003 International Symposium on Circuits and Systems, 2003. ISCAS '03., Bangkok, Thailand, pp. V-V, doi: 10.1109/ISCAS.2003.1206214.
M. Parmar, and H.J. Kaur, 2021. Comparative Analysis of Secured Hash Algorithms for Blockchain Technology and Internet of Things. International Journal of Advanced Computer Science and Applications. 12. 10.14569/IJACSA.2021.0120335.
KattniRembor, Adafruit ESP32 Feather V2, https://www.adafruit.com/product/3405 [Last Accessed 13th December 2023].
M. LeBlanc-Williams, Adafruit 2.9" eInk Display Breakouts and FeatherWings: Easy E-paper with built in memory. https://learn.adafruit.com/adafruit-2-9-eink-display-breakouts-and-featherwings [last updated on Sep 22, 2021].
Lady ada, (2022, Dec, 01), Adafruit eInk Display Breakouts and FeatherWings [Web]. Available: https://cdn-learn.adafruit.com/downloads/pdf/adafruit-eink-display-breakouts.pdf [Last Accessed 13th December 2023].
Understanding the xPub and address generation https://support.blockchain.com/hc/en-us/articles/4417077967508-Your-Wallet-Its-Master-Seed-How-do-they-work-[Last Accessed 13th December 2023].
Downloads
Published
How to Cite
Issue
Section
License
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
All papers should be submitted electronically. All submitted manuscripts must be original work that is not under submission at another journal or under consideration for publication in another form, such as a monograph or chapter of a book. Authors of submitted papers are obligated not to submit their paper for publication elsewhere until an editorial decision is rendered on their submission. Further, authors of accepted papers are prohibited from publishing the results in other publications that appear before the paper is published in the Journal unless they receive approval for doing so from the Editor-In-Chief.
IJISAE open access articles are licensed under a Creative Commons Attribution-ShareAlike 4.0 International License. This license lets the audience to give appropriate credit, provide a link to the license, and indicate if changes were made and if they remix, transform, or build upon the material, they must distribute contributions under the same license as the original.
