Instead of using something like a phone number, why not tie it to another wallet. So, 2 step wallet verification.
Then it would retain the anonymity that some desire.
Topic: Neat feature, any alts want to try it? (Read 615 times)
Why would you do this? That isn't logical to use, 2-step verification might be good for sites but not for a coin itself.
2-step verification to spend. Optional of course.
User opt in. Phone number tied to sending address sent to 2-step verification server. Maybe even google's could be used.
When client wants to spend, text sent to phone. User enters code. Miners have to verify it is valid before adding the transaction to the block.
It couldn't be that hard, would be neat to see it as an option in bitcoin, but alt-currencies are a good place to test how practical such changes are first.
So what alt currency wants to try to implement it?
User opt in. Phone number tied to sending address sent to 2-step verification server. Maybe even google's could be used.
When client wants to spend, text sent to phone. User enters code. Miners have to verify it is valid before adding the transaction to the block.
It couldn't be that hard, would be neat to see it as an option in bitcoin, but alt-currencies are a good place to test how practical such changes are first.
So what alt currency wants to try to implement it?
I 'd like that as a feature - but can i ask a question , can or would there be the possibility of a "Lite" version of it that does not include the Blockchain ?
so for example , just an option on the wallet - but in the Data file , that would obviously stop the thief from just loading a new wallet - in the same way i guess the Wallet is Encrypted?
Is the point here that if a device got stolen and the Password Cracked - the Thief would just change the SMS number ?
what about simple Email verification ?
hmm .
Two of the main features of all these coins are anonymity and untraceability. By using this proposed feature we would instantly give up both for somewhat improved security. I would chose other solutions for securing my wallet.
just to politely correct the many errors i see here in this above statement - I'd really doubt that these are two of the main features of Cryptocurrency for a user.
id say a much closer two if i had to guess would be:
1. Not centrally issued by a a Central Authority controlling distribution quantity and supply.
2. Not able {very difficult} to be immediately controlled by any one entity.
i'd rate "anonymity and untraceability" a fair way down the list, of what normal citizens want.
and then there is also the point that a simple SMS Verification system - does actually not disclose anything about anyone I'm not sure where you live but where i live out 711's hand out Sim cards like they are going out of fashion . sure "Smart" devices are traceable , but what about "Dumb" devices - broad SIM triangulation at best .
and then there is the fact that the OP said it would be "Optional" - anything Optional gets the "CryptoSteve" tick of approval. : D
and of course then there is the fact that most people understand that our poor confused government agencies are trying to know every last thing we do, at a point that equation will balance and citizen will opt out of the system , thus the system will in plain sight not function. , when i say opt out i mean , the environment they are in will seem more and more worthless , and as they see less and less benefit , they will simply stop participating.
Two of the main features of all these coins are anonymity and untraceability. By using this proposed feature we would instantly give up both for somewhat improved security. I would chose other solutions for securing my wallet.
It couldn't be that hard...
Difficulty aside (this is not trivial) there would be ongoing costs associated with the system.
There are some sms notification services that could eat a lot of time off of your development but would add a great deal to the cost of the service.
It would take a pretty ballsy developer with some deep pockets to try and release something like this, an entire new crypto ecosystem.
New wallets, a new block chain, new miners, new pools, everything. Right down to the p2p network itself.
The more I think about it the hairier it gets. All to shed off any last pretense of anonymity.
I don't see it happening.
I don't see this as of much value for day to day use, but for addresses that have a lot of currency.
2-step verification to spend. Optional of course.
User opt in. Phone number tied to sending address sent to 2-step verification server. Maybe even google's could be used.
When client wants to spend, text sent to phone. User enters code. Miners have to verify it is valid before adding the transaction to the block.
It couldn't be that hard, would be neat to see it as an option in bitcoin, but alt-currencies are a good place to test how practical such changes are first.
So what alt currency wants to try to implement it?
User opt in. Phone number tied to sending address sent to 2-step verification server. Maybe even google's could be used.
When client wants to spend, text sent to phone. User enters code. Miners have to verify it is valid before adding the transaction to the block.
It couldn't be that hard, would be neat to see it as an option in bitcoin, but alt-currencies are a good place to test how practical such changes are first.
So what alt currency wants to try to implement it?
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