bitcoin/bitcoin

Bitcoin with horcrux and powmem?

stokebreakup opened this issue · 0 comments

stokebreakup commented

Please describe the feature you'd like to see added.

Currently Bitcoin does not have an algorithm that I call MFAW(Multi-Factor Authentication Wallets). But most can implement this by adopting different types of wallets, and there is even bitcoin documentation about this. For example, you could say that there is security in Bitcoin through "wallets" or MFAW(Multi-Factor Authentication Wallets)". To have or obtain Multi-Factor Authentication Wallets simply have x amount of bitcoin for each wallet you own or manage. This can be done manually or automatically. What I describe is the automatic way, although I reference the manual way for exemplification purposes.

Is your feature related to a problem, if so please describe it.

People in general have a feeling of trust and distrust in relation to promises and guarantees of responsibility, even when this is not actually deliverable. For example, how can a bank guarantee that the money will be safe, if there are people who can use it in the wrong way, in the sense of no longer wanting to consume products or services?

There are marxist historians who say that there are booms and busts in capitalism, and when there is a crash, the financial structure is devalued, to the point that people do not feel safe with this financial system. This is what happens with Bitcoin in reports about hackers, where one or more users were harmed. And that is why for other people bitcoin is not safe, as it does not prevent or minimize the suffering of others. However, just like banks, bitcoin can minimize or avoid unnecessary risks. And there are technical details about this, and to avoid this.

You don't need guarantees or promises to avoid or minimize the suffering of others, but technology and techniques that maximize results over the long term for most people.

What I describe here will solve a very common and bad problem with using bitcoin. What I am adding here is a technical proposal that can bring a good experience for several users with the ease of technology around the world. For example, you could say that there is security in Bitcoin through "wallets".

It is quite common in the investment sense that you distribute your money in several businesses to minimize the risk of loss or to increase the value of the capital in the significant and monetary sense in which it is. In Bitcoin there are five types of wallets to prevent you from losing your access to the blockchain:

  • Paper wallets
  • Custodial wallets
  • Hardware wallet
  • Software wallet(app mobile, web and desktop)
  • Self-host wallet (which can be your memory or any piece of paper, self-host server for this).

But all types of wallets have positive and negative sides, an advantage would be to opt for all available wallets or just some available wallets that I write about. For example, we would think that "bitcoin is regulated and safe" if there are different options such as "software(web, mobile, desktop)", "hardware(pendrive, ledger, trezor, safepad, biometric ...)", "software/hardware(web, mobile, desktop + pendrive, ledger, trezor, safepad, biometric ...)", 'cloud "exchanges + custodial wallets"' and "manual wallets(memory, any piece of paper, local app, self-host, self-hardware, self-software)".

The problem with adopting all of this is the manual process. And there are not always solutions for all of this. The algorithm I describe can allow greater synchronization of all this and make bitcoin even more secure, interesting and viable.

Describe the solution you'd like

I could use the horcrux or telamon/powmem algorithm to verify that each of these wallets belongs to me using a public and private key that identifies the value or description of the transaction. It would take one or more transactions to verify that I am who I say I am. The interesting thing about horcrux and powmem is that you don't need proof of work or blockchain, just a unique identifier. For example,

Suppose that instead of a file, I have an identifier for several wallets that belong to me. Each of the wallets has a minimum value that I add to. In a theoretical sense, I would have several wallets in order to avoid financial loss if I am robbed.

Callsignature:

roll(
  software_deskto_wallet: hash, // sha-5
  software_mobile_wallet: hash: // sha-5
  software_web_wallet: hash, // sha-5
  selfhost_deskto_wallet: hash, // sha-5
  selfhost_mobile_wallet: hash: // sha-5
  selfhost_web_wallet: hash, // sha-5
  custodial_wallet: hash, // sha-5
  manual_wallet: hash, // sha-5
  hardware_wallet: hash, // sha-5
) Uint8Array? // returns hash Multi-Factor Authentication Wallets

As we can see in the pseudocode, I have a unique hash that identifies other hashes.

Describe any alternatives you've considered

  • You don't need to trust or distrust bitcoin, everything is public regardless of the feeling of trust or distrust. Bitcoin did not eliminate the third party, it only integrated the third party as part of the financial, accounting, social and economic or political value system.
  • I started by narrating what Multifactor Authentication Wallets would be through what we call and know as Multifactor Authentication, which is basically the same thing, but in a more restricted sense. There is an interesting algorithm that can make this possible called a horcrux, but it is not used in blockchain, but it could be used.
  • Many people say that bitcoin is insecure, once you forget the key or undergo social engineering to give access to the key. But there are technical details about this and to avoid this.
  • "Bitcoin is self-regulated and insecure": Proposals for improving the protocol are public and open, which avoids any feeling of trust and distrust. Furthermore, there is no guaranteed security in any financial, economic or accounting protocol or system. Just the transaction itself is what it is. For most people, this means that bitcoin is unsafe, bad, and unregulated. Which is actually the opposite of what they believe or want.

Please leave any additional context

  • "Multi-factor authentication" is an electronic authentication method in which a user is granted access to a website or application only after successfully presenting two or more pieces of evidence to an authentication mechanism. "MFA(Multi-Factor Authentication)" protects personal data — which may include personal identification or financial assets — from being accessed by unauthorized third parties who may have been able to discover, for example, a single password.
  • OpenPGP is a non-proprietary format for authenticating or encrypting data using public key cryptography. It is based on the original PGP (Pretty Good Privacy) software. This algorithm has an algorithm that only allows you to read the message if you have a public key and a private key. In turn, what I say here is not just reading or writing the message with an OpenPGP algorithm. But in addition, it could have a block key that identifies itself as two other keys.
  • You don't need a proof of work for this, I have a proof of work alternative.
  • What I request here I call "offline blockchain". An "offline blockchain" is one that can communicate only when necessary with a larger network in a public, private or temporary way.