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Subject: [bitcoin-dev] ChainWallet - A way to prevent loss of funds by
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Hi everyone

If you are a hodler, I like to propose the creation of a key stretching =
as a new layer of protection over your current wallet. I call it =
ChainWallet. Whatever is the method used to generate your private key, =
we can do the following:

newPrivKey =3D sha256(sha256(sha256(=E2=80=A6sha256(privKey)=E2=80=A6)))
NewWallet =3D PubAddress(newPrivKey)
In this way we create a chain of hashes over your private key and =
generate a new wallet from it. If the chain is very long (billions or =
trillions of hashes) it will take a long time to be created. If you =
don=E2=80=99t keep the newPrivKey, the only way to move coins in the =
NewWallet is to generate the chain again.

The length of the chain can be easy memorized as an exponent such as =
2^40 or 10^12.

What is that gut for? You will not be able to move your coins in an =
unplanned way such as being tortured by a kidnaper. You can create a =
wallet that takes days or even months to return the final address.

Comparison with a BrainWallet

If the first privKey is the hash of a password, your ChainWallet can be =
compared to a BrainWallet with a chain added to it. BrainWallets have a =
bad reputation because it is possible to create a brute-force attack =
against it. There are reports where the attacker was able to guess the =
password by generating hundreds of thousands of hashes per second. But, =
if you use a ChainWallet that takes one second to be generated, it means =
that the speed of an attack would be reduced to one guess per second. =
This makes a brute force attack practically impossible.

Entropy

The ChainWallet adds only a few bits of entropy to your key. The idea =
here is not to increase the entropy, but to add =E2=80=9Ctime=E2=80=9D =
as part of the puzzle.

SHA-256

I am suggesting the use of SHA-256 because it is the most popular hash =
algorithm in the crypto community. But you could use SHA-512 or a slower =
hash algorithm such as Bcrypt to do it. But keep in mind that other hash =
algorithms can reduce the entropy.

The idea is to add time to the key generation. If you use many SHA-256 =
or a few SHA-512, as long as both need the same time to be generated, =
there is no difference.

Other hashes have the advantage that a hardware implementation of it is =
not widespread.

ASICs

Someone could mention that ASICs get more and more powerful and could =
crack a ChainWallet. But they have a huge hash rate because they =
calculate it in parallel. A ChainWallet requires that the output of a =
hash would be the input of the next calculation. This dramatically =
reduces the speed of a hardware implementation of such algorithms.

Let=E2=80=99s pick an example:  The Bitfury Clarke has 8.154 cores and =
runs 120 Gh/s. This means that each core can perform about 14.72 Mh/s. =
This speed is all that you can get with one of the best ASIC on the =
market. 17.72 Mh/s is only about 17,7 times faster than a typical =
computer. This speed can only increase slowly, as technology needs time =
to make the transistors run faster. So, the best way to generate a =
ChainWallet is by using such an ASIC core.

Misuse

Someone could argue that people would misuse it by picking easy to =
remember passwords or small chain length. A wallet implementation could =
solve it by forcing a minimum length for the chain and block commonly =
used words for the password. It is a matter of design.

Theft

The major advantage of a ChainWallet is the ability to avoid a theft. If =
your wallet takes a really long time to be generated and someone tries =
to force you to give your private key, you would not be able to do it, =
even if you really want. You could also give away a wrong password or =
chain length and he/she is not able to verify it. The chances are very =
small that he/she will wait weeks of months for the chain generation of =
even that he/she is able to do the chain calculation.

Final Thoughts

A ChainWallet could be used as an alternative to BIP39. Instead of =
keeping 24 words, you would have a password and two numbers, a base and =
an exponent, that defines the length of the chain. This is easier to =
memorize, so you do not need to write it down.

This is only meant as an additional option along with all others =
available in the crypto environment, such as multisig and smart =
contracts. As for those other ideas, the ChainWallet is not applicable =
in every case.

When the day arrives at which you want to stop hodling and transferring =
your coins to another location, you should re-generate your wallet in a =
planned way with the same original private key and length of the chain. =
Then, after waiting until the program concludes, you will get the new =
private key back.

Web Links
=09
The original idea can be found on this post:

https://www.reddit.com/user/sauloqf/comments/a3q8dt/chainwallet =
<https://www.reddit.com/user/sauloqf/comments/a3q8dt/chainwallet>

A proof of concept in C++ can be found on this link:

https://github.com/Saulo-Fonseca/ChainWallet =
<https://github.com/Saulo-Fonseca/ChainWallet>

The community is testing the concept for a while. You can find =
discussions on this links:

=
https://www.reddit.com/r/Bitcoin/comments/cya467/chainwallet_challenge_get=
_01_btc_if_you_solve_it =
<https://www.reddit.com/r/Bitcoin/comments/cya467/chainwallet_challenge_ge=
t_01_btc_if_you_solve_it>

=
https://www.reddit.com/r/Bitcoin/comments/d9ltec/does_someone_know_how_to_=
submit_a_bip_for_bitcoin =
<https://www.reddit.com/r/Bitcoin/comments/d9ltec/does_someone_know_how_to=
_submit_a_bip_for_bitcoin>

Saulo Fonseca


--Apple-Mail=_1C0B04CE-23E4-4165-91CF-DB8DEDF49EC4
Content-Transfer-Encoding: quoted-printable
Content-Type: text/html;
	charset=utf-8

<html><head><meta http-equiv=3D"Content-Type" content=3D"text/html; =
charset=3Dutf-8"></head><body style=3D"word-wrap: break-word; =
-webkit-nbsp-mode: space; line-break: after-white-space;" class=3D""><div =
class=3D""><div class=3D"">Hi everyone</div><div class=3D""><br =
class=3D""></div><div class=3D"">If you are a hodler,&nbsp;I like to =
propose the creation of a key stretching as a new layer of protection =
over your current wallet. I call it ChainWallet. Whatever is the method =
used to generate your private key, we can do the following:</div><div =
class=3D""><br class=3D""></div><div class=3D""><ul class=3D""><li =
class=3D"">newPrivKey =3D =
sha256(sha256(sha256(=E2=80=A6sha256(privKey)=E2=80=A6)))</li><li =
class=3D"">NewWallet =3D PubAddress(newPrivKey)</li></ul></div><div =
class=3D"">In this way we create a chain of hashes over your private key =
and generate a new wallet from it. If the chain is very long (billions =
or trillions of hashes) it will take a long time to be created. If you =
don=E2=80=99t keep the newPrivKey, the only way to move coins in the =
NewWallet is to generate the chain again.</div><div class=3D""><br =
class=3D""></div><div class=3D"">The length of the chain can be easy =
memorized as an exponent such as 2^40 or 10^12.</div><div class=3D""><br =
class=3D""></div><div class=3D"">What is that gut for? You will not be =
able to move your coins in an unplanned way such as being tortured by a =
kidnaper. You can create a wallet that takes days or even months to =
return the final address.</div><div class=3D""><br class=3D""></div><div =
class=3D""><b class=3D"">Comparison with a BrainWallet</b></div><div =
class=3D""><br class=3D""></div><div class=3D"">If the first privKey is =
the hash of a password, your ChainWallet can be compared to a =
BrainWallet with a chain added to it. BrainWallets have a bad reputation =
because it is possible to create a brute-force attack against it. There =
are reports where the attacker was able to guess the password by =
generating hundreds of thousands of hashes per second. But, if you use a =
ChainWallet that takes one second to be generated, it means that the =
speed of an attack would be reduced to one guess per second. This makes =
a brute force attack practically impossible.</div><div class=3D""><br =
class=3D""></div><div class=3D""><b class=3D"">Entropy</b></div><div =
class=3D""><br class=3D""></div><div class=3D"">The ChainWallet adds =
only a few bits of entropy to your key. The idea here is not to increase =
the entropy, but to add =E2=80=9Ctime=E2=80=9D as part of the =
puzzle.</div><div class=3D""><br class=3D""></div><div class=3D""><b =
class=3D"">SHA-256</b></div><div class=3D""><br class=3D""></div><div =
class=3D"">I am suggesting the use of SHA-256 because it is the most =
popular hash algorithm in the crypto community. But you could use =
SHA-512 or a slower hash algorithm such as Bcrypt to do it. But keep in =
mind that other hash algorithms can reduce the entropy.</div><div =
class=3D""><br class=3D""></div><div class=3D"">The idea is to add time =
to the key generation. If you use many SHA-256 or a few SHA-512, as long =
as both need the same time to be generated, there is no =
difference.</div><div class=3D""><br class=3D""></div><div =
class=3D"">Other hashes have the advantage that a hardware =
implementation of it is not widespread.</div><div class=3D""><br =
class=3D""></div><div class=3D""><b class=3D"">ASICs</b></div><div =
class=3D""><br class=3D""></div><div class=3D"">Someone could mention =
that ASICs get more and more powerful and could crack a ChainWallet. But =
they have a huge hash rate because they calculate it in parallel. A =
ChainWallet requires that the output of a hash would be the input of the =
next calculation. This dramatically reduces the speed of a hardware =
implementation of such algorithms.</div><div class=3D""><br =
class=3D""></div><div class=3D"">Let=E2=80=99s pick an example: =
&nbsp;The Bitfury Clarke has 8.154 cores and runs 120 Gh/s. This means =
that each core can perform about 14.72 Mh/s. This speed is all that you =
can get with one of the best ASIC on the market. 17.72 Mh/s is only =
about 17,7 times faster than a typical computer. This speed can only =
increase slowly, as technology needs time to make the transistors run =
faster. So, the best way to generate a ChainWallet is by using such an =
ASIC core.</div><div class=3D""><br class=3D""></div><div class=3D""><b =
class=3D"">Misuse</b></div><div class=3D""><br class=3D""></div><div =
class=3D"">Someone could argue that people would misuse it by picking =
easy to remember passwords or small chain length. A wallet =
implementation could solve it by forcing a minimum length for the chain =
and block commonly used words for the password. It is a matter of =
design.</div><div class=3D""><br class=3D""></div><div class=3D""><b =
class=3D"">Theft</b></div><div class=3D""><br class=3D""></div><div =
class=3D"">The major advantage of a ChainWallet is the ability to avoid =
a theft. If your wallet takes a really long time to be generated and =
someone tries to force you to give your private key, you would not be =
able to do it, even if you really want. You could also give away a wrong =
password or chain length and he/she is not able to verify it. The =
chances are very small that he/she will wait weeks of months for the =
chain generation of even that he/she is able to do the chain =
calculation.</div><div class=3D""><br class=3D""></div><div class=3D""><b =
class=3D"">Final Thoughts</b></div><div class=3D""><br =
class=3D""></div><div class=3D"">A ChainWallet could be used as an =
alternative to BIP39. Instead of keeping 24 words, you would have a =
password and two numbers, a base and an exponent, that defines the =
length of the chain. This is easier to memorize, so you do not need to =
write it down.</div><div class=3D""><br class=3D""></div><div =
class=3D"">This is only meant as an additional option along with all =
others available in the crypto environment, such as multisig and smart =
contracts. As for those other ideas, the ChainWallet is not applicable =
in every case.</div><div class=3D""><br class=3D""></div><div =
class=3D"">When the day arrives at which you want to stop hodling and =
transferring your coins to another location, you should re-generate your =
wallet in a planned way with the same original private key and length of =
the chain. Then, after waiting until the program concludes, you will get =
the new private key back.</div><div class=3D""><br class=3D""></div><div =
class=3D""><b class=3D"">Web Links</b></div><div class=3D""><span =
class=3D"Apple-tab-span" style=3D"white-space:pre">	=
</span></div><div class=3D"">The original idea can be found on this =
post:</div><div class=3D""><br class=3D""></div><div class=3D""><a =
href=3D"https://www.reddit.com/user/sauloqf/comments/a3q8dt/chainwallet" =
class=3D"">https://www.reddit.com/user/sauloqf/comments/a3q8dt/chainwallet=
</a></div><div class=3D""><br class=3D""></div><div class=3D"">A proof =
of concept in C++ can be found on this link:</div><div class=3D""><br =
class=3D""></div><div class=3D""><a =
href=3D"https://github.com/Saulo-Fonseca/ChainWallet" =
class=3D"">https://github.com/Saulo-Fonseca/ChainWallet</a></div><div =
class=3D""><br class=3D""></div><div class=3D"">The community is testing =
the concept for a while. You can find discussions on this =
links:</div><div class=3D""><br class=3D""></div><div class=3D""><a =
href=3D"https://www.reddit.com/r/Bitcoin/comments/cya467/chainwallet_chall=
enge_get_01_btc_if_you_solve_it" =
class=3D"">https://www.reddit.com/r/Bitcoin/comments/cya467/chainwallet_ch=
allenge_get_01_btc_if_you_solve_it</a></div><div class=3D""><br =
class=3D""></div><div class=3D""><a =
href=3D"https://www.reddit.com/r/Bitcoin/comments/d9ltec/does_someone_know=
_how_to_submit_a_bip_for_bitcoin" =
class=3D"">https://www.reddit.com/r/Bitcoin/comments/d9ltec/does_someone_k=
now_how_to_submit_a_bip_for_bitcoin</a></div><div class=3D""><br =
class=3D""></div><div class=3D""><span style=3D"orphans: 2; text-align: =
-webkit-auto; widows: 2; -webkit-text-decorations-in-effect: none;" =
class=3D"">Saulo Fonseca</span></div></div><div class=3D""><div =
style=3D"color: rgb(0, 0, 0); letter-spacing: normal; orphans: auto; =
text-align: start; text-indent: 0px; text-transform: none; white-space: =
normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; =
word-wrap: break-word; -webkit-nbsp-mode: space; -webkit-line-break: =
after-white-space;" class=3D""><div style=3D"color: rgb(0, 0, 0); =
letter-spacing: normal; orphans: auto; text-align: start; text-indent: =
0px; text-transform: none; white-space: normal; widows: auto; =
word-spacing: 0px; -webkit-text-stroke-width: 0px; word-wrap: =
break-word; -webkit-nbsp-mode: space; -webkit-line-break: =
after-white-space;" class=3D""><div style=3D"color: rgb(0, 0, 0); =
letter-spacing: normal; orphans: auto; text-align: start; text-indent: =
0px; text-transform: none; white-space: normal; widows: auto; =
word-spacing: 0px; -webkit-text-stroke-width: 0px; word-wrap: =
break-word; -webkit-nbsp-mode: space; -webkit-line-break: =
after-white-space;" class=3D""><div style=3D"color: rgb(0, 0, 0); =
letter-spacing: normal; orphans: auto; text-align: start; text-indent: =
0px; text-transform: none; white-space: normal; widows: auto; =
word-spacing: 0px; -webkit-text-stroke-width: 0px; word-wrap: =
break-word; -webkit-nbsp-mode: space; -webkit-line-break: =
after-white-space;" class=3D""><span class=3D"Apple-style-span" =
style=3D"border-collapse: separate; font-variant-ligatures: normal; =
font-variant-position: normal; font-variant-numeric: normal; =
font-variant-alternates: normal; font-variant-east-asian: normal; =
line-height: normal; border-spacing: 0px; =
-webkit-text-decorations-in-effect: none;"><div style=3D"word-wrap: =
break-word; -webkit-nbsp-mode: space; -webkit-line-break: =
after-white-space;" class=3D""><span class=3D"Apple-style-span" =
style=3D"border-collapse: separate; color: rgb(0, 0, 0); font-family: =
Helvetica; font-style: normal; font-variant-ligatures: normal; =
font-variant-position: normal; font-variant-caps: normal; =
font-variant-numeric: normal; font-variant-alternates: normal; =
font-variant-east-asian: normal; font-weight: normal; letter-spacing: =
normal; line-height: normal; orphans: 2; text-align: -webkit-auto; =
text-indent: 0px; text-transform: none; white-space: normal; widows: 2; =
word-spacing: 0px; border-spacing: 0px; =
-webkit-text-decorations-in-effect: none; -webkit-text-stroke-width: =
0px;"><div style=3D"word-wrap: break-word; -webkit-nbsp-mode: space; =
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class=3D"Apple-style-span" style=3D"border-collapse: separate; color: =
rgb(0, 0, 0); font-family: Helvetica; font-style: normal; =
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-webkit-nbsp-mode: space; -webkit-line-break: after-white-space;" =
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class=3D""><div class=3D""><br =
class=3D""></div></div></span></div></span></div></span></div></span></div=
></span></div></span></div></div></div></div></div></body></html>=

--Apple-Mail=_1C0B04CE-23E4-4165-91CF-DB8DEDF49EC4--