SlideShare a Scribd company logo
1 of 7
Download to read offline
Convenient &
Secure
Hardware
Wallet
Key Features
For long term saving
• Support for watch
only addresses
For medium term
saving for future
expense
• Separate Wallets for
different classes of
expenditure
For daily transactions
• Lightning Network
channels.
For prepaid card with
oversight
• Separate device with
preloaded coins for
each member
Onboard last person
of society
• Low cost
• Inconspicious USB
device
• Tied with a mobile
phone.
Never carry all your
money
• Hardware device
only carries private
keys and addresses
secured by HSM.
• Keys are
generated offline on
unconnected
computer
Guiding Principles - Requirement Mapping
Security
• Security against theft: Theft or loss of device/mobile phones, Limited loss against robbery, secure against loss on physical break into device.
• Security against hacking and attacks: Fake device, trozen apps, Man in the middle attack, spyware/key-loggers.
• Safe recovery of coins when device and mobile are lost, stolen or broken.
• Safe recovery of coins if password is lost
Privacy
• Each address pays one time
• Bloom Filter based network communication
• Bluetooth device wallets are "Just a bunch of keys (JBOK)"
Convenience
• Easy to pay (All payments will happen through Mobile app)
• Easy to receive (Receiving will happen through Mobile app)
• Ease of recovery (Seed will help in recovery)
• Easy to carry (Very small USB device)
• Easy to secure (Seed can be written on paper or remembered easily)
Open Source
• Open standards
• GPLv3 Mobile App
Target Use cases
Initialization
It should be easy tosetup
Devicessecurely.
Initialization happensoffline
Recovery
Loss of devicesor mobile
should not lead to loss of
funds.
Recovery should be easy.
Recovery happensoffline.
Payment
Sendingorreceivingshould
support QRcode, addresses
and app integration.
Payment/Receivingshould be
secure.
Fund
allocation/partition
Allows allocation of funds
among children oremployees
with oversight but not control.
Allows multiple walletsbased
on usage and security.
Cold Storage
Wallet should allow watch
only addresses for only
receivingfunds.
Components
Security Features
Security
Device
verification
Bootable Linux
Image
Blutooth device
Authentication
3-factor
authentication
User (Password)
Mobile App
Blutooth Device
Blutooth stores
multiple wallets
Device
communication
Encrypted
communication
Private/Public
keys not
exchanged
Recovery
Mnemonic code
based
Only through
linux usb pen
drive
Privacy Considerations
Single time
address use
• Change left in a
transaction is
transferred to
new address.
Bloom Filter Based
communication
• We will have
Simple Payent
Verification (SPV)
implementation
on our mobile
app.
Wallet is "Just a
bunch of Keys"
• We will not use
xpub as this can
link between
addresses.

More Related Content

Similar to Product Architecture of Hardware Wallet - Without Sequence Diagrams.pdf

DIGITAL SIGNATURE
DIGITAL SIGNATUREDIGITAL SIGNATURE
DIGITAL SIGNATURE
ravijain90
 
Securing hand held computing devices
Securing hand held computing devicesSecuring hand held computing devices
Securing hand held computing devices
jraja01
 
4.2.1 Network Issues and Communication [Autosaved].pptx
4.2.1 Network Issues and Communication [Autosaved].pptx4.2.1 Network Issues and Communication [Autosaved].pptx
4.2.1 Network Issues and Communication [Autosaved].pptx
TeenaSharma73
 

Similar to Product Architecture of Hardware Wallet - Without Sequence Diagrams.pdf (20)

Mobile_Forensics- General Introduction & Software.pptx
Mobile_Forensics- General Introduction & Software.pptxMobile_Forensics- General Introduction & Software.pptx
Mobile_Forensics- General Introduction & Software.pptx
 
E walllet / Digital Wallet
E walllet / Digital WalletE walllet / Digital Wallet
E walllet / Digital Wallet
 
Mobisheild sales promotion presentation.
Mobisheild  sales promotion  presentation.Mobisheild  sales promotion  presentation.
Mobisheild sales promotion presentation.
 
E wallet
E wallet E wallet
E wallet
 
Top 10 Things to Secure on iOS and Android to Protect Corporate Information
Top 10 Things to Secure on iOS and Android to Protect Corporate InformationTop 10 Things to Secure on iOS and Android to Protect Corporate Information
Top 10 Things to Secure on iOS and Android to Protect Corporate Information
 
Digital Security and Hygiene.pptx
Digital Security and Hygiene.pptxDigital Security and Hygiene.pptx
Digital Security and Hygiene.pptx
 
Information security
Information securityInformation security
Information security
 
CNIT 128 8: Mobile development security
CNIT 128 8: Mobile development securityCNIT 128 8: Mobile development security
CNIT 128 8: Mobile development security
 
DIGITAL SIGNATURE
DIGITAL SIGNATUREDIGITAL SIGNATURE
DIGITAL SIGNATURE
 
CNIT 128: 9: Mobile payments
CNIT 128: 9: Mobile paymentsCNIT 128: 9: Mobile payments
CNIT 128: 9: Mobile payments
 
Digitalwallet or e-wallet
Digitalwallet or e-walletDigitalwallet or e-wallet
Digitalwallet or e-wallet
 
CNIT 128 Ch 1: The mobile risk ecosystem
CNIT 128 Ch 1: The mobile risk ecosystemCNIT 128 Ch 1: The mobile risk ecosystem
CNIT 128 Ch 1: The mobile risk ecosystem
 
Digital signature service in noida
Digital signature service in noidaDigital signature service in noida
Digital signature service in noida
 
Smartphone_Security.pptx
Smartphone_Security.pptxSmartphone_Security.pptx
Smartphone_Security.pptx
 
Securing hand held computing devices
Securing hand held computing devicesSecuring hand held computing devices
Securing hand held computing devices
 
How To Secure Your Cryptocurrency In 2020
How To Secure Your Cryptocurrency In 2020How To Secure Your Cryptocurrency In 2020
How To Secure Your Cryptocurrency In 2020
 
Cybercrime Mobile and Wireless Devices.pptx
Cybercrime Mobile and  Wireless Devices.pptxCybercrime Mobile and  Wireless Devices.pptx
Cybercrime Mobile and Wireless Devices.pptx
 
Secure End User
Secure End UserSecure End User
Secure End User
 
4.2.1 Network Issues and Communication.pptx
4.2.1 Network Issues and Communication.pptx4.2.1 Network Issues and Communication.pptx
4.2.1 Network Issues and Communication.pptx
 
4.2.1 Network Issues and Communication [Autosaved].pptx
4.2.1 Network Issues and Communication [Autosaved].pptx4.2.1 Network Issues and Communication [Autosaved].pptx
4.2.1 Network Issues and Communication [Autosaved].pptx
 

Recently uploaded

Structuring Teams and Portfolios for Success
Structuring Teams and Portfolios for SuccessStructuring Teams and Portfolios for Success
Structuring Teams and Portfolios for Success
UXDXConf
 
Future Visions: Predictions to Guide and Time Tech Innovation, Peter Udo Diehl
Future Visions: Predictions to Guide and Time Tech Innovation, Peter Udo DiehlFuture Visions: Predictions to Guide and Time Tech Innovation, Peter Udo Diehl
Future Visions: Predictions to Guide and Time Tech Innovation, Peter Udo Diehl
Peter Udo Diehl
 

Recently uploaded (20)

Behind the Scenes From the Manager's Chair: Decoding the Secrets of Successfu...
Behind the Scenes From the Manager's Chair: Decoding the Secrets of Successfu...Behind the Scenes From the Manager's Chair: Decoding the Secrets of Successfu...
Behind the Scenes From the Manager's Chair: Decoding the Secrets of Successfu...
 
Powerful Start- the Key to Project Success, Barbara Laskowska
Powerful Start- the Key to Project Success, Barbara LaskowskaPowerful Start- the Key to Project Success, Barbara Laskowska
Powerful Start- the Key to Project Success, Barbara Laskowska
 
Strategic AI Integration in Engineering Teams
Strategic AI Integration in Engineering TeamsStrategic AI Integration in Engineering Teams
Strategic AI Integration in Engineering Teams
 
Secure Zero Touch enabled Edge compute with Dell NativeEdge via FDO _ Brad at...
Secure Zero Touch enabled Edge compute with Dell NativeEdge via FDO _ Brad at...Secure Zero Touch enabled Edge compute with Dell NativeEdge via FDO _ Brad at...
Secure Zero Touch enabled Edge compute with Dell NativeEdge via FDO _ Brad at...
 
IESVE for Early Stage Design and Planning
IESVE for Early Stage Design and PlanningIESVE for Early Stage Design and Planning
IESVE for Early Stage Design and Planning
 
Buy Epson EcoTank L3210 Colour Printer Online.pptx
Buy Epson EcoTank L3210 Colour Printer Online.pptxBuy Epson EcoTank L3210 Colour Printer Online.pptx
Buy Epson EcoTank L3210 Colour Printer Online.pptx
 
Structuring Teams and Portfolios for Success
Structuring Teams and Portfolios for SuccessStructuring Teams and Portfolios for Success
Structuring Teams and Portfolios for Success
 
Speed Wins: From Kafka to APIs in Minutes
Speed Wins: From Kafka to APIs in MinutesSpeed Wins: From Kafka to APIs in Minutes
Speed Wins: From Kafka to APIs in Minutes
 
The Metaverse: Are We There Yet?
The  Metaverse:    Are   We  There  Yet?The  Metaverse:    Are   We  There  Yet?
The Metaverse: Are We There Yet?
 
UiPath Test Automation using UiPath Test Suite series, part 2
UiPath Test Automation using UiPath Test Suite series, part 2UiPath Test Automation using UiPath Test Suite series, part 2
UiPath Test Automation using UiPath Test Suite series, part 2
 
WebAssembly is Key to Better LLM Performance
WebAssembly is Key to Better LLM PerformanceWebAssembly is Key to Better LLM Performance
WebAssembly is Key to Better LLM Performance
 
Designing for Hardware Accessibility at Comcast
Designing for Hardware Accessibility at ComcastDesigning for Hardware Accessibility at Comcast
Designing for Hardware Accessibility at Comcast
 
WSO2CONMay2024OpenSourceConferenceDebrief.pptx
WSO2CONMay2024OpenSourceConferenceDebrief.pptxWSO2CONMay2024OpenSourceConferenceDebrief.pptx
WSO2CONMay2024OpenSourceConferenceDebrief.pptx
 
Future Visions: Predictions to Guide and Time Tech Innovation, Peter Udo Diehl
Future Visions: Predictions to Guide and Time Tech Innovation, Peter Udo DiehlFuture Visions: Predictions to Guide and Time Tech Innovation, Peter Udo Diehl
Future Visions: Predictions to Guide and Time Tech Innovation, Peter Udo Diehl
 
THE BEST IPTV in GERMANY for 2024: IPTVreel
THE BEST IPTV in  GERMANY for 2024: IPTVreelTHE BEST IPTV in  GERMANY for 2024: IPTVreel
THE BEST IPTV in GERMANY for 2024: IPTVreel
 
Integrating Telephony Systems with Salesforce: Insights and Considerations, B...
Integrating Telephony Systems with Salesforce: Insights and Considerations, B...Integrating Telephony Systems with Salesforce: Insights and Considerations, B...
Integrating Telephony Systems with Salesforce: Insights and Considerations, B...
 
Introduction to FDO and How It works Applications _ Richard at FIDO Alliance.pdf
Introduction to FDO and How It works Applications _ Richard at FIDO Alliance.pdfIntroduction to FDO and How It works Applications _ Richard at FIDO Alliance.pdf
Introduction to FDO and How It works Applications _ Richard at FIDO Alliance.pdf
 
IoT Analytics Company Presentation May 2024
IoT Analytics Company Presentation May 2024IoT Analytics Company Presentation May 2024
IoT Analytics Company Presentation May 2024
 
Buy Epson EcoTank L3210 Colour Printer Online.pdf
Buy Epson EcoTank L3210 Colour Printer Online.pdfBuy Epson EcoTank L3210 Colour Printer Online.pdf
Buy Epson EcoTank L3210 Colour Printer Online.pdf
 
Enterprise Knowledge Graphs - Data Summit 2024
Enterprise Knowledge Graphs - Data Summit 2024Enterprise Knowledge Graphs - Data Summit 2024
Enterprise Knowledge Graphs - Data Summit 2024
 

Product Architecture of Hardware Wallet - Without Sequence Diagrams.pdf

  • 2. Key Features For long term saving • Support for watch only addresses For medium term saving for future expense • Separate Wallets for different classes of expenditure For daily transactions • Lightning Network channels. For prepaid card with oversight • Separate device with preloaded coins for each member Onboard last person of society • Low cost • Inconspicious USB device • Tied with a mobile phone. Never carry all your money • Hardware device only carries private keys and addresses secured by HSM. • Keys are generated offline on unconnected computer
  • 3. Guiding Principles - Requirement Mapping Security • Security against theft: Theft or loss of device/mobile phones, Limited loss against robbery, secure against loss on physical break into device. • Security against hacking and attacks: Fake device, trozen apps, Man in the middle attack, spyware/key-loggers. • Safe recovery of coins when device and mobile are lost, stolen or broken. • Safe recovery of coins if password is lost Privacy • Each address pays one time • Bloom Filter based network communication • Bluetooth device wallets are "Just a bunch of keys (JBOK)" Convenience • Easy to pay (All payments will happen through Mobile app) • Easy to receive (Receiving will happen through Mobile app) • Ease of recovery (Seed will help in recovery) • Easy to carry (Very small USB device) • Easy to secure (Seed can be written on paper or remembered easily) Open Source • Open standards • GPLv3 Mobile App
  • 4. Target Use cases Initialization It should be easy tosetup Devicessecurely. Initialization happensoffline Recovery Loss of devicesor mobile should not lead to loss of funds. Recovery should be easy. Recovery happensoffline. Payment Sendingorreceivingshould support QRcode, addresses and app integration. Payment/Receivingshould be secure. Fund allocation/partition Allows allocation of funds among children oremployees with oversight but not control. Allows multiple walletsbased on usage and security. Cold Storage Wallet should allow watch only addresses for only receivingfunds.
  • 6. Security Features Security Device verification Bootable Linux Image Blutooth device Authentication 3-factor authentication User (Password) Mobile App Blutooth Device Blutooth stores multiple wallets Device communication Encrypted communication Private/Public keys not exchanged Recovery Mnemonic code based Only through linux usb pen drive
  • 7. Privacy Considerations Single time address use • Change left in a transaction is transferred to new address. Bloom Filter Based communication • We will have Simple Payent Verification (SPV) implementation on our mobile app. Wallet is "Just a bunch of Keys" • We will not use xpub as this can link between addresses.