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Satochip - Gent meetup
17
Transcript
Open source and affordable Bitcoin hardware wallet
Challenges
- The cryptocurrency market is now worth more than 150 billions $ !
- A significant amount is kept in exchanges or on smartphone/computer wallets.
- These are under threat from hack, theft and exit scam.
Not your keys
=
Not your coins
Hack
Solution :
hardware wallet
Solution
Current solutions :
(Ledger, Trezor, … Coldcard, Keepkey, John McAfee’s Bitfi,...)
- Expensive,
- Vendor lock-in,
- Not standard,
- Not (fully) open source,
- Many untested features,
- Still immature,
- ...
How to trust a third party ?
Satochip
hardware wallet
Our solution
- Based on a smartcard,
- Written in javacard,
- Targetting the highest security standards …
… at the most affordable cost !
- And last but not least :
- Fully open-source and easily auditable
Smartcard overview
Smartcard
- Embedded integrated circuit,
- Tamper resistant (secure element),
- Optimized for secure cryptographic operations,
- Contact… and contactless,
- Many applications in finance, healthcare, ID, ...
- Billion of cards sold each year,
- Many form factors.
Smartcard security
Security
- Mature technology : smartcard security are based on 40+ years of experience in securing banking tx,
- Easy security audit : code fully open,
- Minimal attack surface : simple design and javacard standard,
- Standardized functionalities : loading, updates, ....
- Hardware subjects to strict security certification.
Javacard
- Allows to run java applications (applets) on a smartcard,
- Based on the Java Card Platform spec, (developed by Sun Microsystems, now Oracle)
- GlobalPlatform standard for the secure management of applications on the card (download, installation, personalization, deletion).
Javacard
Ecosystem
Satochip ecosystem
The Satochip ecosystem is composed by :
- Satochip-Applet : our dedicated code loaded on a javacard chip
- Satochip-Electrum : the standard Electrum client with the Satochip plugin
- Satochip-2FA : the additional layer for a stronger security
Satochip Applet
Applet
- Protected by a PIN code
- Access to the smartcard requires a PIN code for any critical operation
- Store and manage Bitcoin private keys
- Private keys are stored inside the Smartcard and are never allowed to leave it
- Fully BIP32 compliant
- Support segwit standard
- Sign transaction
Satochip Electrum
- Standard Electrum client with Satochip plugin
- Only contains public keys and transaction info,
- Multi-sig supported.
- Act as GUI interface between the Bitcoin network and the Satochip card
- Wallet file is encrypted on-disk using the Satochip card.
Client
Satochip 2 FA
2FA
- Android 2 FA application to approve transactions
- Unsigned tx are sent to the app for approval
- Additional layer of security against phishing
- Upon review, a one-time code based on the tx hash is sent back to the card for unlocking the signing of the tx
- Based on HMAC-SHA1 standard
Hands-on
- Load the Satochip applet on empty javacard
- Initialize the wallet with the Satochip Electrum wizard
- Send and receive Bitcoin transactions
Demo
Future developments
Roadmap
- Support 2FA (almost done - demo)
- Support contactless (easy)
- Support bitcoin forks : (easy)
- Litecoin
- Bitcoin Cash
- Dogecoin
- Dash
- …
- Support Ethereum and ERC20 (medium)
- Support Monero (hard)
- Support mobile wallet (medium to hard)
- ...
Usefull ressources
Ressources
Code, applet and client :
- https://github.com/Toporin
Website :
- https://www.satochip.io
Twitter :
- @SatochipWallet
Telegram :
- https://t.me/Satochip
Who's who
Baudoin COLLARD - CTO
Ph.D. in cryptography from UCLouvain
Security engineer
Worked previously at Atos worldline
https://be.linkedin.com/in/baudoin-collard-74352510
About us
Bastien TAQUET - CBO
Master in Sciences Computer from UMons
System engineer
Blockchain enthousiast
https://be.linkedin.com/in/bastien-taquet-4aa23934
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