Topic: [ANN] SignBook Droid: Hardware wallet, The hot, the cold and the beautiful (Read 4564 times)

Yes, really Wonderful!

I hope we can embed it soon.

wonderful

Introduction

   Security in the cryptocurrencies scene is a major concern for all users. Sadly so far there is a big tradeoffs between security and usability especially for new novice users. From using vulnerable operating systems to online wallets. Convience always comes with great security issues. SignBook Droid is here to suggest that no, both can be provided. And here is our approach. Hopefully you will like it, awesome people.


The problem

   There are many problems that cryptocurrencies are trying to solve mainly the problem of a decenteralized network where you trust math with the best efforts of consistency regardless of non-honest nodes on the network. SignBook Droid is concerned with securing the private keys. The key part which you money lies within, Losing those is losing the money without a chance to get them back within the boundaries of the system.



The hot, the cold and the ugly

   Hot wallets are wallets containing private keys with funds that are on a device that is connected to the Internet, While cold ones are offline in various forms (Disks, files, Paper and on the sand). Almost all major hacks on bitcoin exchange were in the form of a stolen “hot” wallet, Where the device with the wallet got hacked remotely and the hackers got a copy of the wallet. Using cold wallets is not a trivial thing for new users. If only it was hot and cold at the same time, or something close to that.


NXT and the features: Aliases, Tokens, Forging and the decentralized Asset Exchange

   NXT, The second generation crypto, Comes with tons of new features that rendered the secret phrases (NXT alternative approach to the wallet idea) more important and crustal to not to lose. Many people expressed how much they just cannot leave a server online forging (Mining) 24/7 because getting that server hacked effectively means they lost their money! The development team promises the ability to lease the forging power but still, the problem is even bigger. What about bots trading online? What if they were hacked or something? Alias generation and management and more importantly; How can we shield our wallets from “some” uses and not the others?


The hardware wallet:

   From https://en.bitcoin.it/wiki/Hardware_wallet:

“A hardware wallet is a device that stores a part of a user's wallet securely in mostly-offline hardware. They have major advantages over other wallet types:
the key is often stored in a protected area of a microcontroller, and cannot be transferred out of the device in plaintext
immune to computer viruses that steal from software wallets
can be used securely and interactively, as opposed to a paper wallet which must be imported to software at some point
much of the time, the software is open source, allowing a user to validate the entire operation of the device
”

Personally we think android devices are VERY affordable and a custom open source ROM can render ANY device, A Hardware wallet. And this is our goal. mainly



What is SignBook Droid exactly?

   SignBook Droid is a minimalist android ROM with specialized software for signing transactions using your private keys. These private keys can be stored in an encrypted container or to be fetched as they are needed. The ROM is thought to be stripped entirely of means to communicate with networks (Internet, LAN, etc) and only equipped with means of communications via NFC, Bluetooth, QR codes and also manual entry of data. It should be 100% open source. The wallets should be protected inside encrypted containers and under layers and layers of encryption.


SignBook Droid: The Hot, The cold and the Beautiful

   So where does hot meets cold? To put it simply the idea is the local direct link between a broadcaster node (or a mid broadcaster) and the signing device so no way to wiretap between them. You can set SignBook droid to automatically sign a specific set of transactions. For example(s):

“John estimated that he would not be sending more than X amount of YYY coin in a day. So he sat SignBook droid to not sign any transaction with less than 15 minutes apart and not larger amount than U and a maximum of X per day. Now he links SignBook Droid with his laptop via Bluetooth. His laptop can be a full node or a thin client on the YYY coin network. John can sleep soundly.

Linda, on the other hand, just made her own trading bot on the asset exchange of the NXT network. She is definitly scared of her funds getting stolen so online servers somewhere in europe is a big nono and her Windows 7 desktop is not really the de facto of security practices. So she sat Signbook droid to sign only orders on the market with specific amounts and time frames. And NO fund transfer transactions!.

But Jenna only wants to forge. So she sat her SignBook droid to only sign new blocks to broadcast to the network. She is really happy with SigBook Droid. Ease of use and sound security of her money.\
”


This is the first draft. Alot is being worked on currently. Stay tuned. Mean while you may consider donating to this project, Thank you very much (NXT: 14198045641565365464, BTC:1JkaS8ZhSYZFkD9DBw3XyAzXuEBWUduhh8)