Endpoint Focused Ideal Attributes of a Cryptocurrency Wallet
摘要
The adoption of cryptocurrency wallets has seen a remarkable surge in recent years, reshaping the landscape of finance and technology. The needs and requirements of users have led to the creation of different types of wallets. The functionality and security of these wallets are based on the number of features and attributes they offer. These crypto wallets face a range of threats and vulnerabilities including endpoint vulnerabilities (EV) that can jeopardize the security of digital assets. To understand the attributes of wallets, 12 prominent wallets were analyzed comprehensively with respect to 20 key attributes including their strengths and weaknesses. Building upon this analysis, a new approach was proposed that integrates the attributes that are not yet widely implemented, such as 3-Factor Authentication (3FA), micro-SD card, Hierarchical Deterministic (HD), and advanced algorithms such as BIP 39, BIP 44, Trusted Execution Environments (TEE), Schnorr variants, and Fast Identity Online (FIDO) 2.0 and introduced the novel concept of endpoint-focused attributes within cryptocurrency wallets, with a primary emphasis on bolstering security and mitigating EV. The study contributes to the ongoing efforts to create a more secure, user-centric, and resilient cryptocurrency wallet, fostering trust and confidence in digital finance. Thus, users can secure their wallets and crypto accounts from endpoint incidents.