A Smart Card Based Security Extension for The Bitcoin Wallets
With the increase in the use of virtual currencies across the globe, the security of Bitcoin wallets has become a serious concern for the Bitcoin community. The developers are trying to implement concrete security solutions in Bitcoin wallets to ensure that no vulnerability gets exploited. However,...
| Main Authors: | , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
National University of Sciences and Technology, Islamabad
2016-12-01
|
| Series: | NUST Journal of Engineering Sciences |
| Online Access: | https://journals.nust.edu.pk/index.php/njes/article/view/282 |
| Summary: | With the increase in the use of virtual currencies across the globe, the security of Bitcoin wallets has become a serious concern for the Bitcoin community. The developers are trying to implement concrete security solutions in Bitcoin wallets to ensure that no vulnerability gets exploited. However, a large number of known, as well as zero-day attacks, are launched on the Bitcoin wallets on a daily basis, resulting in a loss of bitcoins. In this regard, this paper presents a security analysis of existing Android wallets. We demonstrate how the implemented security practices can be bypassed by malicious entities, causing financial loss to Bitcoin users. As a countermeasure, we present a smart card based authentication scheme which will protect the users from all of the identified attacks.
|
|---|---|
| ISSN: | 2070-9900 2411-6319 |