I create this thread as a place to discuss the proposed “cold-locked transaction” feature, proposed by Sunny King on Bitcointalk:
I suppose this works the following: there is a special type of transaction that only allows the sending of PPC to one designated address, so the online wallet can be unlocked for minting without exposing itself to wallet stealing intents because the hacker could not send the PPC to his own addresses. If I am wrong, correct me please
Is there something in the works now? If I understand it right, that would be a great feature which could incentive stake minting for everyone without having to deal with “obscure” shell scripts to unlock the wallet only for minting purposes.
I did not fully understand Sunny’s description, but could this also compete against future quantum attacks?
[quote=“whifmoi, post:2, topic:132”]I did not fully understand Sunny’s description, but could this also compete against future quantum attacks?
It should provide some protection since compromising the low risk key should not put the bulk of the funds at risk.
Maybe make the process to be 2-steps, first step is to prove the Proof-of-Stake on the first address, which will expose the public key, and then immediately move the coins into true cold-wallet. As long as the 1st address is recorded as the pointer from the view of the 2nd address. This way, quantum computer using Shor’s algorithm would not able to calculate PK since the cold address’ PK is never revealed.