Abstract
Secure and stable cryptocurrency key management is important in modern cryptocurrency because the keys are the only way to access digital assets. Although many cryptocurrency wallet schemes have been proposed, some application limitations and inherent security risks still exist. In this paper, we propose a novel cryptocurrency wallet management scheme based on Decentralized Multi-Constrained Derangement (DMCD) to store the keys securely and stably in a decentralized network. Serving as the data distribution strategy, DMCD has high data dispersion and a better balance between the rate of storage space utilization and contribution, which can guarantee the security and stability of the key storage and recovery. In our scheme, to cope with the problem that nodes are frequently online and offline in the decentralized network, we employ a Shamir-Kademlia-Neighbor (SKN) redundancy strategy to ensure the high availability of stored key. Meanwhile, for achieving anonymous communication during DMCD data distribution, based on the Kademlia protocol, we change the Client/Server (C/S) mode of Hordes protocol to a decentralized version. All the proposed technologies can ensure that our scheme works well in a decentralized mode. The experiments and evaluations demonstrate that our scheme is efficient, stable, and secure in the decentralized network.
Highlights
Cryptocurrency is a transactional medium, and it is based on cryptography to ensure the security of transactions
We propose a Decentralized Multi-Constrained Derangement (DMCD) based cryptocurrency wallet management scheme, and our main contributions are as follows: 1. We propose a DMCD based cryptocurrency wallet management scheme to store keys in a decentralized network
This article focuses on designing a decentralized cryptocurrency key management scheme
Summary
Cryptocurrency is a transactional medium, and it is based on cryptography to ensure the security of transactions. He et al.: Novel Cryptocurrency Wallet Management Scheme Based on DMCD convenient and efficient for users [9] This solution is troubled by poor data distribution and risk aggregation because the central server stores a large amount of cryptocurrency key data. We propose a DMCD based cryptocurrency wallet management scheme to store keys in a decentralized network. Hosam [22] used steganalysis fractal techniques to hide key data in fractal tree graphics and made it more difficult for attackers to distinguish the implicit information He et al [14] put forward an encryption wallet scheme based on a semi-trusted social network. The other is the derangement-based data distribution strategy, which can achieve a high rate of dispersion and the balance of the entire network Through these two methods, the DMCD can reduce the risk of digital assets being attacked. The anonymous communication strategy used in the data distribution and negotiation process is described in section III D
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