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February 11, 2018, 05:20:44 PM |
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Idea abstract example: Smart contract or special wallet with a second signature that can cancel a transaction within a certain period specified by a data-transaction in the network.
Simple example. An exchange creates a wallet where it keeps it's assets. It sets 24 hours to cancel any outgoing transaction by an additional password. The second password is stored securely and is not needed until a successful hacker attack happens.
Negative: - you have to wait for 24 hours (or whatever time is specified) - if you loose the second password your assets could be blocked by attacker, but you keep the password securely stored for emergency and don't have to use it online until it happens Positive: even if you loose both passwords hacker can't use the funds, it will be a cat and mouse game that will discourage stealing
There can be multiple variations. Same password can make transactions and cancel. MultiPasswords for cancelation are needed. And other.
Please tell what do you think about the idea?
disclosure: we are building a new PoS cryptocurrency and want to discuss some new ideas with the community
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