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Author Topic: 2 part deterministic wallet? - one can only gen public addresses  (Read 1395 times)
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December 31, 2011, 05:43:51 PM
 #1

I would like a method where I can create private keys and public addresses from a single seed on my local machine, and on my server generate those same public addresses, but not be able to generate the private keys.

This will accomplish:
* Having a deterministic wallet - which is nice for backup and syncing
* Be able to generate an infinite amount of addresses on my merchant site and possible web game
* Make it so if said web server was hacked, the hackers wouldn't be able to make off with the money.

I know I could upload a large set of addresses to the server, but I would rather just have it so one would be created whenever it is needed rather than be pulled from a pool.

Does anyone have a good idea as to how this could be done?

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December 31, 2011, 06:03:40 PM
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Every hacker who will manage to own your server will be able to get
those private keys.
Quote
I know I could upload a large set of addresses to the server
AFAIK you better use THIS approach for your task.



"...Enemies are everywhere ! Angka is all rage ! Be a good soldiers, blow everything... " <-- Pol Pot (C)
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December 31, 2011, 07:24:01 PM
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Does anyone have a good idea as to how this could be done?

https://bitcointalk.org/index.php?topic=19137.0
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December 31, 2011, 08:09:43 PM
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Was there a conclusion to this thread?

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January 02, 2012, 02:17:44 AM
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AFAIK this is simply "someone needs to implement it"

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January 02, 2012, 02:23:20 AM
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AFAIK this is simply "someone needs to implement it"

Doesn't look like there was a clear algorithm though.

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January 02, 2012, 05:13:11 AM
 #7

robkohr,

I am one week away from releasing an alpha version of Armory which does exactly what you are requesting.  The only thing remaining is the dialogs that allows the user to easily sign transactions using the offline wallets.  Armory will be the best program for offline transactions, miles ahead of all other attempts!  You won't even need to keep the blockchain on the offline computer!


Here's a screenshot of the "Paper Backup" dialog:


You only need to print it once, when the wallet is first created, and it will serve as a permanent backup for the deterministic wallets.  Also, you can create such a wallet on the offline computer, then "Make a watching-only" wallet which can be copied to the online computer and can be used to generate addresses and verify payments, but does not have access to the private keys. 

If you want to get in on early testing, let me know Smiley
-Eto

Founder and CEO of Armory Technologies, Inc.
Armory Bitcoin Wallet: Bringing cold storage to the average user!
Only use Armory software signed by the Armory Offline Signing Key (0x98832223)

Please donate to the Armory project by clicking here!    (or donate directly via 1QBDLYTDFHHZAABYSKGKPWKLSXZWCCJQBX -- yes, it's a real address!)
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January 02, 2012, 05:15:15 AM
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AFAIK this is simply "someone needs to implement it"

Doesn't look like there was a clear algorithm though.

Er. It's described clearly enough for anyone who should be writing this sort of software!

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