Title: Don't take this too seriously, I am just hoping for a better future Post by: Kalchef on April 23, 2022, 05:01:02 PM Imagine a blockchain network where users private keys can change passwords randomly to make a transaction and only the original wallet owner can see the code, something like 2FA idea integrated in the blockchain itself 😅 don't turn me into a laughing stock I am just looking into any new possibilities.
Title: Re: Don't take this too seriously, I am just hoping for a better future Post by: Don Pedro Dinero on April 23, 2022, 05:13:28 PM Imagine a blockchain network where users private keys can change passwords randomly to make a transaction and only the original wallet owner can see the code, something like 2FA idea integrated in the blockchain itself 😅 don't turn me into a laughing stock I am just looking into any new possibilities. Can you explain this better? Private keys are actually the passwords you need to execute a transaction. I don't know if I'm misunderstanding you or you're not explaining it well. Title: Re: Don't take this too seriously, I am just hoping for a better future Post by: Marvelman on April 23, 2022, 05:21:43 PM don't turn me into a laughing stock I am just looking into any new possibilities. I don't think this is the best way to start your question. You may already know that it doesn't make sense? Perhaps you could explain your idea with a concrete example? Title: Re: Don't take this too seriously, I am just hoping for a better future Post by: Cookdata on April 23, 2022, 05:22:37 PM Imagine a blockchain network where users private keys can change passwords randomly to make a transaction and only the original wallet owner can see the code, something like 2FA idea integrated in the blockchain itself 😅 don't turn me into a laughing stock I am just looking into any new possibilities. You haven't communicated! With a private key, you can spend a bitcoin locked on your wallet address on the blockchain, you don't need a password to authorised or sign a transaction though, for safety, you may want to encrypt your private key with a password so that any bad actor wouldn't have access to your wallet or when they try to export private keys from your wallet. You may also want to use a 2FA (two factor authentication) to co-sign a transaction from a multi-sig wallet, it is just an extra security feature but it is more complicated than an ordinary wallet, Electrum[1] has that feature, you can check it out. NOTE: Your coins are not stored in the wallet, they are on the blockchain. Your wallet is only used to manage and store private keys. [1] https://electrum.readthedocs.io/en/latest/2fa.html Title: Re: Don't take this too seriously, I am just hoping for a better future Post by: coupable on April 23, 2022, 06:13:16 PM Imagine a blockchain network where users private keys can change passwords randomly to make a transaction and only the original wallet owner can see the code, something like 2FA idea integrated in the blockchain itself What do you mean by "users private keys can change passwords randomly to make a transaction"? Do you mean that the wallet can generate a random password wallet after each transaction and the password will be only available for next transaction?Title: Re: Don't take this too seriously, I am just hoping for a better future Post by: Upgrade00 on April 23, 2022, 08:08:09 PM Imagine a blockchain network where users private keys can change passwords randomly to make a transaction and only the original wallet owner can see the code, something like 2FA idea integrated in the blockchain itself So you're suggesting that the password changes at time intervals just like authy or Google authenticator, and only the owner of the private keys have access to the current sequence of the password.This would require making changes to the blockchain network and having a centralized system that randomizes the password linked to specific keys, this would not happen. Password encryption is just a means of securing your address on a specific software. Title: Re: Don't take this too seriously, I am just hoping for a better future Post by: KingsDen on April 23, 2022, 08:20:53 PM At first you didn't take yourself and your idea serious, so don't expect us to take you.
But for the fact that no knowledge or idea is a waste, let me try to understand you. Imagine a blockchain network where users private keys can change passwords randomly to make a transaction and only the original wallet owner can see the code, something like 2FA idea integrated in the blockchain itself Do you mean that I can use my private key and insert in your wallet and it will work for me and import my balance. Then, a code will be sent to you like 2fa asking you if you were the person that tried to login your private key? ...users private keys can change passwords Do you mean password of exchanges? Or wallet password. Title: Re: Don't take this too seriously, I am just hoping for a better future Post by: cryptoaddictchie on April 24, 2022, 03:50:52 AM Imagine a blockchain network where users private keys can change passwords randomly to make a transaction and only the original wallet owner can see the code, something like 2FA idea integrated in the blockchain itself 😅 don't turn me into a laughing stock I am just looking into any new possibilities. If the developers think of this then thats great. But bad news is they dont. Maybe theres a reason why they not implemented it like this, and hence the risk would be far greater. What if others find a way to exploit and see a way on how to see the owners code? Then thats it. His good for nothing I guess. There is no perfect blockchain code and thats how things should done perfectly with some imperfection featuees. Title: Re: Don't take this too seriously, I am just hoping for a better future Post by: GeorgeJohn on April 24, 2022, 05:32:00 AM don't turn me into a laughing stock I am just looking into any new possibilities. I don't think this is the best way to start your question. You may already know that it doesn't make sense? Perhaps you could explain your idea with a concrete example? Title: Re: Don't take this too seriously, I am just hoping for a better future Post by: Marvelman on April 24, 2022, 07:53:18 AM ... so don't blame anyone the way it asked a question, i think with time it will adhere or adjust to it. The question is unclear to the vast majority of readers, so who is to blame? As you can see, I did not ridicule the OP, but offered a constructive suggestion so that he could better explain his idea. Perhaps he will adhere to it or adjust it over time, or maybe he won't. Time will tell. Title: Re: Don't take this too seriously, I am just hoping for a better future Post by: GeorgeJohn on April 24, 2022, 12:06:05 PM ... so don't blame anyone the way it asked a question, i think with time it will adhere or adjust to it. The question is unclear to the vast majority of readers, so who is to blame? As you can see, I did not ridicule the OP, but offered a constructive suggestion so that he could better explain his idea. Perhaps he will adhere to it or adjust it over time, or maybe he won't. Time will tell. Title: Re: Don't take this too seriously, I am just hoping for a better future Post by: Mpamaegbu on April 25, 2022, 08:00:53 AM I believe the whole point of OP's question boils down to getting a way of securing a wallet. Whether they propose that Pkeys change randomly like what GA or Authy does or one has an ability to change it like we do passwords, the whole security thing still depends on the owner. I've read about cases where accounts with 2FAs were alleged to have been hacked. How that happened beat the imagination of the victims. In all of this, it's even better to keep these things simply simple. It works that way. There's no need to complicate things. Sometimes, in attempting to strengthen our stuff as to prevent external access to them we might even lock ourselves out unwittingly. I've had a brief experience with that.
|