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Author Topic: OmniWallet.org online wallet - how it works?  (Read 47 times)
Uniex
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April 03, 2018, 05:19:57 PM
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Their page says https://www.omniwallet.org/about

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Private keys are never sent to the server except in an encrypted form

So how then they can sign transaction from address, if private key is encrypted ?
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According to NIST and ECRYPT II, the cryptographic algorithms used in Bitcoin are expected to be strong until at least 2030. (After that, it will not be too difficult to transition to different algorithms.)
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jackg
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April 03, 2018, 05:56:43 PM
 #2

Their page says https://www.omniwallet.org/about

Quote
Private keys are never sent to the server except in an encrypted form

So how then they can sign transaction from address, if private key is encrypted ?

Ideally, most of these things work by having you give a password that decrypts the encrypted private key.

Such that, your addresses can be accessed, but all they have are strings of encrypted private keys, which only your password can decrypt. so it's you who signs the message from your end (instead of them).

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April 03, 2018, 05:57:23 PM
 #3

My guess: the private-key is decrypted (with your password) and temporarily stored locally. You are the one signing the transaction.

Edit: jackg came here first ;(

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April 04, 2018, 02:23:37 PM
 #4

While it can't be verified if they really only store the encrypted version, it would probably be more secure to check their github[1]
and download/compile the 'wallet' yourself.

This way you at least know what code is running in your browser.

[1] https://github.com/OmniLayer/omniwallet/

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