On replacing hardware wallets

  • Hardware wallets are mainly useful for cold storage, and have to be operated carefully to ensure that they do not break when they encounter transactions based on the original protocol which BSV has restored in it’s Genesis upgrade.
  • Hardware wallet manufacturers do not currently support BSV, and even if they did, it is questionable that the hardware wallets could be used for much more.

Requirements

Before coming up with a replacement for hardware wallets, let’s define the requirements we have of the replacement.

Building a theoretical replacement

This is not intended to be guaranteed practical, but rather offer a starting point that may or may not be viable.

  1. Her signed identity key.
  2. Alice’s payment details including output scripts and key derivations.
  3. His own change payment details including output scripts and key derivations.
  4. The chain of certificates where necessary.
  • Identity verified by SOMECOMPANY (with green checkmark to show their certificate checked out).
  • A list of the recipients (assuming that he may not just be paying Alice) with a green checkmark beside each to show their keys all check out, and that SOMECOMPANY vouched for them.

Summing up

In theory this solves a lot of the problems with existing hardware wallets and provides a solution that should be doable now and not waiting on third party services or future technology to be developed.

  • It would support the original Bitcoin protocol restored in the BSV Genesis upgrade.
  • It would replace address comparison with something much more user friendly.
  • Is it necessary to update the root certificates on the mobile application, how often and how best to do this?
  • It is likely necessary to upload new script templates to the device, so that it can handle new types of script outputs and be sure it is checking all keys. These can likely be signed on behalf of the application developer using SOMECOMPANY.
  • Etc..

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