Personnal project - Delayed access Wallet

[yup.damon]

Hello there,

I’m happy to introduce you to a side project I’ve developed this week.

Just like a lot of you, I’m keeping my seed in form of BIP39 mnemonic on metal plate.
I do not keep these plate with me but far away in order to avoid a 5$ attack.
That’s spacial distance.

I suggest to complete this approach by adding  “Temporal distance” to your security scheme.
This simply means when you want to access your fund you cannot before a given amount of time.

I believe a wallet mixing temporal distance and spacial distance is a great form of security. The durations I'm talking about are between few hours to few days.

I’ve realised an javascript implementation of this idea.
If you have NPM you can download it and use it as a CLI tool or a lib for your own project. (npm install -g wait4wallet)
https://www.npmjs.com/package/wait4wallet

Because of the cryptographic nature of this project I publish the code in order to allows anyone to audit the it
https://github.com/Yug-Damon/wait4wallet

How to use it

Building the delayed access wallet :
walletA -> walletB + secret

Code:

$ wait4wallet --duration <duration> --mnemonic “<mnemonic>”
// the given amount of time of computation
Mnemonic: [the new mnemonic] use it for funding of multisig
secret : [the secret] store it for later access

Accessing the delayed access wallet
walletA + secret -> walletB

Code:

$ wait4wallet —secret <secret> --mnemonic “<mnemonic>”
// the given amount of time of computation
Mnemonic: [the new mnemonic] use it for signing transaction

Under the hood

The implementation of this tool is dead simple.

For a given amount of time, the tool is looping on BIP85 derivation from an initial wallet, once the time limit is reached, the tool print out the last derivation and the number of iterations associated.

It's then always possible to access this wallet knowing the initial wallet and the iteration count with the required amount of time.

The secret is this number converted to base 36.


Thank you to have read me, I’ll be happy to answer questions and consider any improvement

[geraldine198]

Hello,

Thanks for sharing such insightful project and info. Its very helpful to me. Spotify Pie

[larry_vw_1955]

The implementation of this tool is dead simple.

For a given amount of time, the tool is looping on BIP85 derivation from an initial wallet, once the time limit is reached, the tool print out the last derivation and the number of iterations associated.

this time delay is one in which the user could bypass it very easily so i don't see any use in it. they know the index, they can go straight to their seed phrase without doing all the iterations. so this time delay is not enforced.