Publication result detail

SoK: Cryptocurrency Wallets - A Security Review and Classification based on Authentication Factors

HOMOLIAK, I.; PEREŠÍNI, M.

Original Title

SoK: Cryptocurrency Wallets - A Security Review and Classification based on Authentication Factors

English Title

SoK: Cryptocurrency Wallets - A Security Review and Classification based on Authentication Factors

Type

Paper in proceedings (conference paper)

Original Abstract

In this work, we review existing cryptocurrency wallet solutions with regard to authentication methods and factors from the user's point of view. In particular, we distinguish between authentication factors that are verified against the blockchain and the ones verified locally (or against a centralized party). With this in mind, we define notions for k-factor authentication against the blockchain and k-factor authentication against the authentication factors. Based on these notions, we propose a classification of authentication schemes. We extend our classification to accommodate the threshold signatures and signing transactions by centralized parties (such as exchanges or co-signing services). Finally, we apply our classification to existing wallet solutions, which we compare based on various security and key-management features.

English abstract

In this work, we review existing cryptocurrency wallet solutions with regard to authentication methods and factors from the user's point of view. In particular, we distinguish between authentication factors that are verified against the blockchain and the ones verified locally (or against a centralized party). With this in mind, we define notions for k-factor authentication against the blockchain and k-factor authentication against the authentication factors. Based on these notions, we propose a classification of authentication schemes. We extend our classification to accommodate the threshold signatures and signing transactions by centralized parties (such as exchanges or co-signing services). Finally, we apply our classification to existing wallet solutions, which we compare based on various security and key-management features.

Keywords

blockchain, cryptocurrency, cryptocurrency wallets, security, authentication factors

Key words in English

blockchain, cryptocurrency, cryptocurrency wallets, security, authentication factors

Authors

HOMOLIAK, I.; PEREŠÍNI, M.

RIV year

2025

Released

20.05.2024

Publisher

Institute of Electrical and Electronics Engineers

Location

Dublin

ISBN

979-8-3503-1674-2

Book

2024 IEEE International Conference on Blockchain and Cryptocurrency (ICBC) - Proceedings

Pages from

1

Pages to

8

Pages count

8

URL

https://ieeexplore.ieee.org/document/10634439

BibTex

@inproceedings{BUT193292,
  author="Ivan {Homoliak} and Martin {Perešíni}",
  title="SoK: Cryptocurrency Wallets - A Security Review and Classification based on Authentication Factors",
  booktitle="2024 IEEE International Conference on Blockchain and Cryptocurrency (ICBC) - Proceedings",
  year="2024",
  pages="1--8",
  publisher="Institute of Electrical and Electronics Engineers",
  address="Dublin",
  doi="10.1109/ICBC59979.2024.10634439",
  isbn="979-8-3503-1674-2",
  url="https://ieeexplore.ieee.org/document/10634439"
}