A Practical Recovery Mechanism for Blockchain Hardware Wallets
Published in IEEE Access, vol. 12, pp. 169928-169944, 2024
This work introduces a secure recovery mechanism for hardware wallets that preserves the unique security property of Unicity, crucial for protecting high-value cryptocurrency. Unlike traditional backups, it avoids cloning the private key by using Symmetric Secret Sharing, a Key Revocation Certificate, and Smart Contracts. This ensures wallet recovery without compromising security, outperforming existing methods and maintaining the integrity of the wallet’s design.
Recommended citation: V. Deshpande, H. J and A. Vijay Khade, "A Practical Recovery Mechanism for Blockchain Hardware Wallets," in IEEE Access, vol. 12, pp. 169928-169944, 2024, doi: 10.1109/ACCESS.2024.3497302.
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