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Created by @Blue Collar Crypto
Created on 2023/08/09
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Blue Collar Crypto · 2023/08/09

wallet security #620

#MyFirstIdea #walletsecurity This is an Idea that is a design for a cold store wallet. This would not work with a everyday use wallet. When a hacker gets your keys, we all know that there isn't anything we can do. What If we had a cold storage wallet by design. This is how I believe it could look like. Once someone sets up a wallet they have a choose between cold storage and hot wallet. Once they select cold storage the set up is the all the same as if for a hot wallet wallet except one thing. A sender address or two. The sender address is a wallet address that the tokens is sent to whenever a transaction is made. Every other address is blocked. So lets say that by dum luck a hacker gets your keys and starts to send your token to his wallet. The transaction is blocked or the funds is automatically forward to the senders address that was set up whenever the wallet was created. Since this wallet is by design a cold storage wallet it would not matter for the extra transaction fee. Its a small price to pay for safety. Once the funds is sent to a hot wallet the user can do as they please. I hope this makes sense. If anyone has any question feel free to let me know. I will provide my education website in the link. I do not have the resources to take on this project but I will love to help in everyway.
CC0 (Public Domain)