Introduction
This invention relates to digital wallets, specifically addressing a multi-layered encryption method for private key processing that combines user biometrics and password settings to enhance security.
Background
Digital wallets represent a modern financial transaction mechanism utilizing blockchain technology. During transactions, users confirm transaction data (including transfer amounts and wallet addresses) by signing digitally with their wallet's private key. However, traditional private keys—256-bit alphanumeric strings—are difficult to memorize, posing risks if lost or forgotten. Offline storage devices can also be misplaced, compromising assets, while unauthorized access to private keys may lead to fraudulent transactions.
Technical Solution
The proposed method involves a multi-level encryption process:
- First Private Key: The original digital asset credential private key.
- Second Private Key: Derived by encrypting the first key with a biometric hash value (fingerprint, iris, or facial recognition).
- Third Private Key: Generated by encrypting the second key with a transaction password hash value.
Key Features:
- 128-bit or 256-bit alphanumeric strings for all keys.
- Asymmetric encryption (e.g., public/private key pairs).
- Storage of the third key on the blockchain for recovery.
Workflow
Encryption:
- Biometric data → Hash → Encrypt with first key → Second key.
- Transaction password → Hash → Encrypt with second key → Third key.
Decryption:
- Use transaction password hash to decrypt third key → Second key.
- Use biometric hash to decrypt second key → Original private key for transaction confirmation.
Advantages
- Enhanced Security: Biometrics and passwords create dual authentication.
- No Key Memorization: Users rely on biometrics and a password instead of complex strings.
- Blockchain Backup: Third key stored securely on-chain prevents asset loss.
FAQs
1. What happens if my biometric data changes?
The system requires re-registration of new biometrics to generate fresh hash values.
2. Can this method prevent phishing attacks?
Yes. Even if a password is compromised, biometric data is still required for decryption.
3. Is the biometric data stored centrally?
No. Only hash values are used, ensuring raw biometric data remains private.
4. How is this different from two-factor authentication (2FA)?
This method uses biometrics + password for encryption/decryption, whereas 2FA typically relies on separate verification steps.
5. What devices support this method?
Any device with biometric capabilities (smartphones, tablets) and blockchain connectivity.
👉 Explore blockchain security solutions for more insights.
Conclusion
This method ensures only the rightful user can authorize transactions by combining biometrics and cryptographic techniques. Future applications could expand to IoT devices and decentralized identity systems.