Distributed E-Wallet Security Technology

Glossary

Term Definition Blockchain is a distributed database used to record transaction information, with the characteristics of decentralization, security and transparency. E-Wallet is a software program that stores digital currency or electronic cash, which can perform operations such as payment and transfer. Distributed E-Wallet divides the key of the e-wallet into multiple copies and stores them on different devices to improve security and anti-attack capabilities. Enhanced Privacy Identity (EPID) is an anonymous identity identification technology that can protect user privacy and achieve identity authentication. Trusted Execution Environment (TEE) is a secure computing environment used to protect sensitive data and applications from malware attacks. Physical Unclonable Function (PUFS) is a hardware-based unique identification technology used for device authentication and tamper-proofing. Multi-factor Authentication (MFA) is a security verification mechanism that requires users to provide multiple authentication factors, such as passwords, fingerprints, SMS verification codes, etc. Shamir Secret Sharing is an encryption technology that divides secret information into multiple copies and distributes them to multiple participants. The original secret can only be recovered when a certain number of participants cooperate. Radio Frequency Identification (RFID) is a wireless communication technology that can identify specific targets and read related data through radio waves. MofN Policy is an authorization policy that requires at least M authorized parties out of a total of N authorized parties to agree to perform an operation.

Short Answer Question

What are the advantages of distributed electronic wallets over traditional electronic wallets? Distributed electronic wallets store keys in a decentralized manner. Even if some devices are lost or stolen, it will not affect the security of the entire wallet, improving the ability to resist attacks. At the same time, distributed storage also improves the availability of wallets.

What role does EPID play in distributed electronic wallets? EPID is an anonymous identity recognition technology that can protect user privacy while achieving identity authentication to ensure the security and reliability of transactions.

How is the MofN policy applied in distributed electronic wallets? The MofN policy can be used in multiple aspects such as transaction authorization, key recovery, and device election. For example, it can be set to require M devices to authorize a transaction to improve security.

How does PUFS enhance the security of electronic wallets? PUFS is a hardware-based unique identification technology that can be used for device authentication and tamper prevention. For example, PUFS can be integrated into an e-wallet to verify the authenticity of the device and prevent attacks by counterfeit devices.

How does multi-factor authentication (MFA) improve the security of e-wallets? MFA requires users to provide multiple authentication factors, such as passwords, fingerprints, SMS verification codes, etc., which increases the difficulty for attackers to obtain all authentication factors and effectively improves the security of e-wallets.

How is Shamir secret sharing used to protect the keys of e-wallets? Shamir secret sharing can divide the key into multiple shares and distribute it to multiple participants. Only when a certain number of participants cooperate can the original key be restored. Even if part of the key share is lost, it will not affect the security of the key.

How is RFID technology used to track e-wallets? RFID technology can identify specific targets and read related data through radio waves. For example, RFID tags can be embedded in e-wallets to track the location information of e-wallets.

How to use location information to improve the security of e-wallets? Location information can be used as a factor for transaction verification. For example, transactions are only allowed in a specific area, or the risk level of transactions is judged based on the user's location information.

What is a compensation transaction? Compensation transaction refers to a compensation mechanism provided by insurance companies or other third-party institutions when problems occur in e-wallet transactions, such as transaction failure, fraud, etc.

What is a trusted execution environment (TEE) and what role does it play in e-wallets? TEE is a secure computing environment used to protect sensitive data and applications from malware attacks. For example, the keys and core codes of e-wallets can be run in TEE to improve their security.

Short answer questions

Distributed e-wallets store keys in a decentralized manner, which improves the anti-attack capability and wallet availability, while traditional e-wallet keys are stored in a centralized manner, which is risky.

EPID implements identity authentication while protecting user privacy, ensuring the security and reliability of transactions.

M of N strategy is applied to transaction authorization, key recovery, device election and other aspects to enhance security.

PUFS is used for device authentication and anti-tampering, verifies the authenticity of the device, and prevents attacks by counterfeit devices.

MFA increases the difficulty for attackers to obtain all verification factors, effectively improving the security of e-wallets.

Shamir secret sharing distributes keys into multiple shares, so even if some key shares are lost, it will not affect the security of the key.

RFID tags are embedded in e-wallets to track the location information of e-wallets.

Use location information as a factor in transaction verification, for example, only allow transactions in a specific area, or determine the risk level of transactions based on the user's location information.

Compensation transactions refer to a compensation mechanism provided by insurance companies or other third-party institutions when problems occur in e-wallet transactions.

TEE is a secure computing environment used to protect sensitive data and applications from malware attacks. The keys and core codes of e-wallets can be run in TEE to improve their security.