Multi-Share Secret Distribution Protecting Our Crypto Wallet With Ai-Fi SuperLockThreshold Secret SharingDeployment ScenariosDigital Secrets and Periodic Rehearsal of Their RecoveryThe Shortcomings of Shamir's Secret Sharing?Ai-Fi Anonymous Cloud StorageUse Secure Ai-Fi Mail to Trade Your Cryptocurrency
When creating a crypto wallet, you are usually given a mnemonic passphrase of 12 to 24 words to store "safely" for emergency recovery purposes. Since it is in digital form, a loss event or a sneaky glimpse of it can have devastating consequences to your holdings in your wallet. Currently there is no simple and secure way of safekeeping it other than the standard advice of writing it down on a piece of acid-free paper and "storing" it somewhere, which is the crypto equivalent of putting all your eggs in one basket, or worse.
The Ai-Fi SuperLock is designed to protect any secrets of yours which are either not easy to memorize or perilous to write down. Keeping the recovery passphrases in Ai-Fi SuperLock is a popular Ai-Fi application for solving this difficulty.
We are all concerned about losing our phone, or the loss of the recovery passphrase written down on a piece of paper. To make our wallet more secure, SuperLock adopts the technique of Threshold Secret Sharing or SSS (Shamir's Secret Sharing). We use a simplified version that first extends (encrypt/transform/obfuscate) the secret into 3 pieces of "shares". At least 2 of the 3 shares are required to recover the secret. Under this threshold scheme, any single mishap ("single-point failure") is not as catastrophic as before. Note that those shares are not generated literally by snipping the original key material into separate backup pieces (as in the diagram), rather by "transforming" it to multiple independent parts, each of which may be stored by itself.
Other than the first share that is to be kept on your phone, other shares may be maintained any way you desire. You may opt to store any number of shares in our Ai-Fi Anonymous Cloud Storage, which offers a very high degree of anonymity. Since the recovery process involves our mental faculty which is prone to errors, a periodic rehearsing of the recovery process based on this multi-share scheme is critical to ensure the recoverability of all the shares.
Deployment Example 1, against loss/theft event:
Deployment Example 2 for protecting your digital assets:
Deployment Example 3:
Our SuperLock package is designed to protect any digital secret, not just our crypto wallet. It may be launched independently from the "DigiSafe" app and there is a shortcut from the Ai-Fi Wallet app leading to the generic application.
You can also set a schedule to rehearse the recovery process based on your selected deployment scheme. Ai-Fi will trigger the rehearsing based on the time schedule set.
There is no absolute security in the current state of crypto affairs. The many implementations of Shamir's Secret Sharing scheme are no exceptions. A few observations on comments made about Shamir's Secret Sharing shortcomings:
Briefly mentioned above, an Anonymous Storage facility is offered by Ai-Fi to securely and anonymously keep your files of any content in Ai-Fi's cloud. It is based on modern cryptography, formally audited and peer-reviewed. The files submitted to Ai-Fi Anonymous Cloud for storage are completely anonymous and untrackable. Not even Ai-Fi.net has a clue where they are from or whom it is owned by, as long as the fees are kept up (with a very generous grace period). All users need to do is to specify the following:
Based on this information a PKI key pair is generated with the hashed value of the public key as the file name and used to index the file in the Ai-Fi Anonymous Cloud. The files are encrypted based on an encryption key derived from the input parameters.
This storage facility has the following "warrant-proof" properties:
This secure and anonymous storage facility is most popular for our users to store one of their recovery passphrase key shares.
This is why Ai-Fi is entitled to claim "Not All Cloud Storages Are Created Equal".
While most crypto-currency traders use Google or Yahoo email accounts to trade cryptocurrency, it is definitely not the best way as it is not private and is clearly being tracked by those email service providers. Use Ai-Fi SecureEmail to keep your trade only between trusted peers.