Today we will talk about the security of using the Tkeycoin platform and the TKEYSPACE mobile blockchain wallet.submitted by tkeycoin to Tkeycoin_Official [link] [comments]
Tkeycoin is a peer-to-peer payment system based on p2p principles and the concept of electronic cash. P2P technology is a fairer means of mutual settlements between users and companies around the world. Modern payment systems are imperfect and may depend on the will of high-ranking officials.
We approached the market from an economic and scientific point of view, borrowing the best from Bitcoin, Ethereum, DASH, and other alternative currencies, mixing modern concepts and building on the global experience of IBM, Microsoft and a number of other companies and research.
The Tkeycoin blockchain is protected by various mechanisms that include advanced cryptographic methods and mathematical models of behavior and decision-making. Blockchain technology prevents duplication or destruction of digital assets.
In addition to providing security and recording transactions in registers, cryptography also plays a role in ensuring the security of wallets used to store Tkeycoin. Paired public and private keys, which respectively allow users to receive and send payments, are created using asymmetric encryption or public-key cryptography. Public keys are used to generate digital signatures for transactions, which allows you to authenticate ownership of the coins being sent.
The asymmetric cryptography architecture does not allow anyone other than the owner of the private key to access funds stored in the cryptocurrency wallet, so these funds are kept safe until the owner decides to spend them.
In simple words, in the Tkeycoin peer-to-peer system, only you are the real owner of your money and only You have access to it.
Using tools such as a local Tkeycoin Core wallet or TkeySpace provides you with reliable storage, privacy, and security.
TkeySpace, in turn, adds maximum usability by combining the highest level of security and easy intuitive design.
How does TKEYSPACE provide security?TKEYSPACE is one of the first applications that support blockchain in a mobile device and is also the first decentralized application of the TKEY platform.
Its serverless architecture provides the highest level of security for storing all assets in the application. unlike centralized applications that are managed by companies, TkeySpace does not have a Central management authority and operates in accordance with all the principles of peer-to-peer networks.
As we said above, the wallets in the blockchain have a public and private key. Centralized applications usually store users ‘private keys on their servers, which makes users’ funds vulnerable to hacker attacks or theft.
TkeySpace-stores the encrypted key only on the user’s device and in encrypted form. The encrypted key is displayed as a mnemonic phrase (backup phrase), which is very convenient for users. Unlike complex cryptographic ciphers, the phrase is easy to save or write. The backup phrase provides the maximum level of security and thanks to its usual appearance, an attacker is unlikely to ever guess what these words are and what they are for.
A mnemonic phrase is 12 or 24 words that are generated using random number entropy. If the phrase consists of 12 words, then the number of possible combinations is 2048¹² or 211³² — the phrase will have 132 security bits. To restore the wallet, you must enter the mnemonic phrase in the strict order as it was presented after generation.
And so that you do not get confused in the definitions and concepts, we will briefly describe simple and clear principles of how it all works. Let’s look briefly at the factors.
Lock ScreenThe simplest thing that protects your phone from unauthorized access is Pincode, a snake, a fingerprint or a Face Id login. And it would seem that this is related to TKEYSPACE?
Every platform, whether it’s Android or AppStore, uses specialized key stores. Cryptography, symmetric and asymmetric encryption, keys, and certificates are directly related to this task.
Keys and certificates that are used to protect information must also be securely protected. Android uses Keystore, a certificate and a Keystore, for this purpose.
Keystore is a specialized secret data store that is used by Java applications to encrypt, authenticate, and establish HTTPS connections.
For two-way authentication, the client and server exchange certificates, respectively, and the server and client must have a Keystore with a private/public key pair and a certificate. In other words, the Keystore is used to store keys and certificates that are used to identify the key owner (client or server).Starting with Android 8, the encryption systems have been upgraded, the system is checked for signs of hacking at startup, and the screen lock allows you to restrict access to the device. Data encryption and the use of keys ensure the security of information when it is stored and transmitted.
In the new version of the OS — Android 9 (Pie) — the developers also added support for hardware to protect against unauthorized changes.
Android apps run in an isolated software environment that restricts access to your information to other apps. OS components are also protected, which prevents attackers from exploiting system errors for their purposes.
Android uses both hardware and software to protect users and their data. Therefore, even at the operating system level, there are a lot of security factors. Of course, if you “flash” the phone (change the factory firmware) and enable Root access, this will reduce the security of Your device, but this is more an exception than a rule and such changes are usually introduced by very experienced users.
IOS uses Keychain — a specialized database for storing metadata and confidential information. Using a Keychain is the best practice for storing small pieces of data that are critical to your apps, such as secrets and passwords. In addition to the Keychain, Apple provides a full range of maximum protection for Your device.
And so we will continue,
Passcode in the appNow we understand that to get access to the tools, an attacker needs to hack the hardware security of the Google and Apple giants to somehow get access to the app, which is impossible.
To increase security and eliminate other risk factors, we have included an access code (secret code) in the app.
You set an additional level of security by enabling a pin code to log in to the app. The access code additionally encrypts all data stored in the app.
Just so you understand — it’s not just numbers that you enter on the screen, this combination affects the ciphers inside the app. When creating a key, a user interface element is called. when the user swipes the screen, the application receives a random set of bytes — thus, all information is additionally covered by a new layer of cryptography.
And as we said above, if you try to disable the pin code, the app will delete all the data, and the attacker will be left with nothing.
As we have already realized, only 2 of these factors provide the maximum level of security for the TKEYSPACE application.
And the most important thing is that the application runs on the blockchain, which guarantees its full Autonomous operation, data immutability, and privacy.
Generation of new addresses, absence of accounts, phone numbers, e-mail and other personal data-provides you with a social level of security, which is a huge advantage in our time.
In a world where security is based on the level of cryptography, attackers try to influence You with the human factor using social engineering, so when you use applications with accounts, phone numbers, you have more risks.
Social engineering is a method of obtaining the necessary access to information based on the characteristics of human psychology.For example, a copy of a SIM-card has become a new tool for fraudsters, but there is no personal information in TKEYSPACE, so even such groups of fraudsters can’t get access to your funds.
You don’t have to worry about security — it’s already built into the TKEYSPACE system.A mixed encryption system based on the principles of computational complexity, with the deterministic generation of signatures using elliptic curves, provides absolute security and safety of user funds, and reserve phrases will help you restore funds at any moment.
A mnemonic phrase is 12 or 24 words that are generated using the entropy of random numbers.
If the phrase consists of 12 words, then the number of possible combinations is 2048¹² or 211³² — the phrase will have 132 security bits. To restore the wallet, you must enter the mnemonic phrase in the strict order as it was presented after generation.
Only you and no one else has access to the phrase. When you get the key, the app has restrictions on the screenshot, and the clipboard is disabled, which protects against malicious software.
It is you, as a user, who sees the phrases, and everything in the device is encrypted, the blockchain architecture protects against hacker attacks, information forgery, and other hacks.
For those who are a bit obsessed with persecution mania, we offer a small lifehack:
Buy several USB drives, connect them to a device that does not have access to the Internet, preferably on a clean operating system, create a text file, write backup phrases there, and encrypt the USB drives with passwords.
Once again, to ensure security and easy recovery, it is enough to record backup phrases once and make several backups. you do not need to resort to an additional encryption method, because we have already done everything for you :)
|submitted by zorfbee to Futurology [link] [comments]|
See their knowledge base: Ledger Knowledge Base In short: Bitcoin, Ethereum/Classic, Litecoin, Dogecoin, Zash (z-addresses not supported), Dash, Stratis. On the future roadmap: Monero, RippleLedger seems like a USB drive; is there any concern about just yanking it at any time from the attached computer? It doesn't show up as a removeable drive so there is no usual way to safely disconnect.
Install the Chrome 'Ledger Manager' app to add wallets for these coins.
'Safe removal' is important with USB drives as there might be data that still has to be written to the stick before you remove it. On the Ledger no data is written so you can just yank it :)Can you use other Ledger devices, or other companies' devices, as backups to your Nano S?
Other Ledgers are ideal. You initialize it with your backup seed and it is effectively the same as your other Ledger. With other devices it depends if they support the way keys are derived from the seed. List from Ledger: Restore wallet from seed. I think the Trezor is itself is also supported (Since they also implement BIP39 en BIP44) but I have no Trezor to try this.If you are ever concerned about your security being compromised, what is good procedure for generating new seed words and keys and moving your assets to a different wallets?
There are some possibilities. If you have a second Ledger you can reset it by entering the PIN incorrect three times. This generates new seed words (write down / store safely!). Then you can move your funds from the first to this second Ledger (small amounts first and check). Then you can reset the first Ledger and use the seed you have just written down to get the same wallet. NOTE: Make sure not to use your old addresses! And keep the old seed just in case.Changing your PIN - is it safe to do while the Ledger is in control of your keys?
In general the Ledger is a good source for a new seed. But in theory you can also use dice to generate your own seed. The list of words is this: BIP39 Word list. So if you have a dice with ten faces you can throw it 4 times and see which word from the list corresponds to this number (if any). Repeat this until you have 24 seed words. I have not tried this but I will :)
If you do not have another ledger you have to create a wallet on your computer, use an exchange account or myetherwallet and move the funds there temporarily. Once you are certain this has been done right reset the Ledger and move the funds back.
It is possible to change the PIN in the newest firmware version (1.3.1). This is safe, but have your seed ready just in case! In newest version PINs from 4 to 8 characters are now allowed.How many different seed phrases are there?
If you have older firmware you could update the firmware (seed ready!). Otherwise you should wipe the Ledger by entering an incorrect PIN and use your seed to recover.
The word list consists of 2048 words. This is 2¹¹. So if we choose a random word each time, this gives 2048²⁴ possibilities which is 2²⁶⁴ which is around 2*10⁷⁹. This is about the same as a fifth of the estimated number of atoms in the observable universe. So, yeah, a lot of seeds.
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Several people expressed interest in moving their coin to cold storage but were completely unaware of how to even begin. So I wrote a quick guide to help you through it.
Cold storage?Cold storage is the act of storing your Bitcoin public and private keys on physical media, generally kept somewhere hidden and safe such as a safe deposit box, a safe in your home, or buried in a box in your back yard. Once your bitcoin is transferred to this physical wallet it will be safe from hacks, but you alone are responsible for securing the keys.
Cold storage makes your coins inconvenient to access, so it is only practical for storing a large amount for a long time.
Creating your own walletThere are many applications you can use to create your own wallet. I like Electrum due it its ease of use and 100% open source code. You can use any wallet you like, but this guide will focus on Electrum.
We'll use Electrum to generate a set of keys using a seed phrase. The seed phrase is 12 random words that we can use to recreate your wallet without having to remember the long private keys. It is very secure (there are 2048 words, which makes 5.444517870735 * 1039 combinations) but easier to work with than actual keys.
If you are paranoid about security (I won't judge) you may want to load up a live CD of a linux disto so that you need not worry about keyloggers or other potential malware spying on your seed phrase.
First, go download https://electrum.org/.
Follow this guide to create a wallet using a seed phrase, stopping when you get to the header "Funding Your Wallet" (my guide will take over from there):
Keep your seed phrase safe. This is the only method you will have to access your wallet. Your seed phrase is worth the entire value of your investment. KEEP YOUR SEED PHRASE SAFE.
Funding your WalletOnce everything is set up we'll transfer some coin into this wallet. I like to transfer the smallest amount possible just to test that everything is working as expected before moving the rest of my coin.
Go to the Receive tab and copy the Receiving Address. This is a public key and it can only be used to send money to your wallet. Take this key to your online wallet (coinbase, bitfinex, etc) and transfer 0.0001 btc (roughly $1.75 usd at the time of this post) to your Recieving Address. Depending on how busy the network is you might see this transaction immediately in Electrum or it could be an hour. Once the transaction is confirmed (and has a green checkmark next to it) we'll nuke our wallet and make sure we can restore it.
Deleting and RegeneratingIn Electrum go to File > Delete and confirm that you want to delete your wallet. Electrum will close and your wallet will be gone.
Start Electrum again. Name your new wallet anything you want, it doesn't need to match the name you used when you first created your wallet. Select Standard Wallet, then I Already Have A Seed. Type your seed phrase in and click Next. You can use an encryption password if you like, but it will only affect the wallet while it exists on your computer, this encryption will not affect your ability to restore the wallet in the future using just the seed phrase.
If all went well Electrum will regenerate your addresses and sync with a bitcoin server. You'll see your 0.0001 transaction here. If you don't I'm not sure what to do since I've never had problems with it. This is why we are testing this with a small transaction. If you did something stupid like not KEEPING YOUR SEED PHRASE SAFE you will only be out $2 usd.
Wrapping UpAt this point you can transfer however much coin you want into the wallet through the Receiving tab. You may notice that your Receiving Address has changed. This is because an Electrum wallet contains several public/private keys that it treats as one single wallet. You can send your coin to the same address as the first transaction or you can use the addresses that Electrum rotates through. In theory using multiple addresses is safer due to the increased anonymity.
Once your coin is all transferred you may delete your wallet again. You coin will then exist only in your seed phrase. KEEP THIS SAFE. I have a mill and engraved my seed phrase on metal sheets that I keep in my safe and my parents' safe. I strongly recommend creating at least two copies in case shit goes sideways and one copy gets damaged. If you print your seed phrase make sure you laminate it and keep it somewhere that is fireproof. KEEP YOUR SEED PHRASE SAFE.
You can still add funds to this wallet using the receiving addresses used earlier. You do not need to use Electrum at all for this, all you need to do is send coin to the address. The glory of the blockchain is that your coin is tied to this address and you need the private key to spend it. Since your private keys are SAFELY STORED IN YOUR SEED PHRASE you need not worry about using your public key to send more coin to yourself.
Do not tell anyone where you put your seed phrase since anyone with that phrase can generate your wallet on any computer and consequently spend your coin.
This process may seem complicated, but if you read each step before doing anything you'll get to be perfectly comfortable owning your own coin.
Spending your coin from this wallet is a different story altogether and I'm not getting into that process now.
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