I have some questions about the security implementations in place to mitigate the risk of private key disclosure when the wallet is unlocked for POS minting.
My questions are the following:
Do we have any security in place to put the coins in a “locked” state and prevent them to be used? (via the client itself but also on the network as part of the Peercoin protocol)
Why not creating a temporary private pub/priv key pair that would be temporary used for the purpose of POS Minting? (send the coins to this pair, mint the coins, withdraw the coins back when finished, destroy the pair and never use it again). This would prevent the original key pair to be compromised during the POS minting process.
Would it be possible to tag the coins used for the minting purpose on the network, i.e. create specific minting adresses for which the peercoin protocol only allows the withdrawal address to be the one that has been used to deposit the coins. For example, if I want to do POS minting, I create a pub/priv key pair with a specific tag (i.e. starting by MINTxxxx) and for which I am the only owner (understand coin withdrawals can only be performed to my address), so that nobody can withdraw the coins to a different address if the private key is compromised (because it won’t be accepted by the network).
Apart from that, what I understand from now is that the wallet is permanently unlocked, and the private key stored in memory… The passphrase is of course never stored. But the pub/priv key pair is used for the POS minting purpose.
I have some questions about the security implementations in place to mitigate the risk of private key disclosure when the wallet is unlocked for POS minting.
My questions are the following:
Do we have any security in place to put the coins in a “locked” state and prevent them to be used? (via the client itself but also on the network as part of the Peercoin protocol)
Why not creating a temporary private pub/priv key pair that would be temporary used for the purpose of POS Minting? (send the coins to this pair, mint the coins, withdraw the coins back when finished, destroy the pair and never use it again). This would prevent the original key pair to be compromised during the POS minting process.
Would it be possible to tag the coins used for the minting purpose on the network, i.e. create specific minting adresses for which the peercoin protocol only allows the withdrawal address to be the one that has been used to deposit the coins. For example, if I want to do POS minting, I create a pub/priv key pair with a specific tag (i.e. starting by MINTxxxx) and for which I am the only owner (understand coin withdrawals can only be performed to my address), so that nobody can withdraw the coins to a different address if the private key is compromised (because it won’t be accepted by the network).
Apart from that, what I understand from now is that the wallet is permanently unlocked, and the private key stored in memory… The passphrase is of course never stored. But the pub/priv key pair is used for the POS minting purpose.
Thanks.[/quote]
I think what you are looking for is what we call cold locked minting. Work to achieve that is underway for the next version of the wallet. Here is the thread: http://www.peercointalk.org/index.php?topic=2783.0
[quote=“Thireus, post:3, topic:3009”]Wow, awesome! This is exactly the kind of solution I was looking for. I’m glad the community is already discussing this topic!
Thank you Cybnate.[/quote]
Thank you for being a part of this community - crafty people are always welcome
