Cryptosat and Dfns Labs Launch Space Wallet Crypto Keys into Low Earth Orbit

CRYPT — Dfns Labs, the research arm of Web3 wallet infrastructure and security company Dfns, has collaborated with Cryptosat, a startup that focuses on launching secure execution environments (TEEs) via satellite into Earth orbit low, to design and test the first ” Space Wallet. Cryptosat is a startup that focuses on launching secure execution environments (TEEs) based on satellites in low Earth orbit. Space Wallet is a digital wallet which was developed to protect sensitive and high-value transactions. It does this by using a new threshold signature system that includes a satellite as a co-signer. This helps prevent attacks based on physical access.

The distribution of private key shares among many signers is made possible by threshold signing methods. These signatories must all give their consent for a transaction to be validated. These protocols reduce the risk of a single point of failure, but they are not foolproof as there is still a remote possibility that attackers could obtain the private key share held by a signer using sophisticated physical techniques and/or access. administrative. Despite this, the protocols reduce the risk of a single point of failure. The Dfns space wallet prevents even the most determined cybercriminals from carrying out these types of attacks since it places one of the signatories on a Cryptosat satellite in orbit above the Earth.

Due to the fact that Cryptosat’s satellites are stationed in low Earth orbit, they are completely impenetrable to even the most well-funded and state-funded hackers. Additionally, the organization uses state-of-the-art surveillance methods to ensure that any effort to approach one of its satellites will be discovered. A unique threshold signature system known as Flexible Round-Optimized Schnorr Threshold Signatures (FROST) is used to transact.

This scheme was designed by cryptographers Chelsea Komlo and Ian Goldberg and implemented by Dfns Labs for resource-constrained satellites. Signatures can be created on real Bitcoin transactions, and at the moment they are compatible with the Bitcoin blockchain. Adding support for additional blockchains is on the roadmap.

“We are pleased to assist Dfns in the execution of its threshold signature system using Cryptosat satellites as co-signatories. According to Dr. Yan Michalevsky, co-founder of Cryptosat, “This is a great example of how we can leverage space as the perfect, physically isolated environment for the level of security required by security solutions. institutional portfolio.” “It’s a great example of how we can take advantage of space as a perfect, physically isolated environment.”

“Space Wallet provides an unprecedented level of security for threshold signatures,” noted Dfns Chief Scientist Dr. Jonathan Katz. “Space Wallet” “It also demonstrates that threshold signature schemes can be effective enough to deploy in environments where resources are limited”, Cryptosat ensures that every transaction is fully auditable, which provides an additional layer of protection for the transactions themselves. If a transaction is tampered with by hacked terrestrial infrastructure, the crypto-satellite’s immutable transaction audit log will document the event and provide data that can be used to track down the attacker. The satellites operated by Cryptosat are also capable of applying additional security measures, such as requesting confirmation whenever the amount of a transaction exceeds a predetermined threshold.

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