Publication Details
SoK: Cryptocurrency Wallets - A Security Review and Classification based on Authentication Factors
blockchain, cryptocurrency, cryptocurrency wallets, security, authentication
factors
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.
@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"
}