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Private key encryption and recovery in blockchain | | Mehmet Aydar
; Salih Cemil Cetin
; Serkan Ayvaz
; Betul Aygun
; | | Date: |
9 Jul 2019 | | Abstract: | The disruptive technology of blockchain can deliver secure solutions without
the need for a central authority. In blockchain, assets that belong to a
participant are controlled through the private key of an asymmetric key pair
that is owned by the participant. Although, this lets blockchain network
participants to have sovereignty on their assets, it comes with the
responsibility of managing their own keys. Currently, there exists two major
bottlenecks in managing keys; $a)$ users don’t have an efficient and secure way
to store their keys, $b)$ no efficient recovery mechanism exists in case the
keys are lost. In this study, we propose secure methods to efficiently store
and recover keys. For the first, we introduce an efficient encryption mechanism
to securely encrypt and decrypt the private key using the owner’s biometric
signature. For the later, we introduce an efficient recovery mechanism using
biometrics and secret sharing scheme. By applying the proposed key encryption
and recovery mechanism, asset owners are able to securely store their keys on
their devices and recover the keys in case they are lost. | | Source: | arXiv, 1907.4156 | | Services: | Forum | Review | PDF | Favorites | |
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