Implementing a Secure Blockchain-Based Wallet System with Multi-Factor Authentication
- Publisher:
- IEEE
- Publication Type:
- Conference Proceeding
- Citation:
- 2023 IEEE International Conference on e-Business Engineering (ICEBE), 2023, 00, pp. 23-30
- Issue Date:
- 2023-12-18
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| Filename | Description | Size | |||
|---|---|---|---|---|---|
| Implementing_a_Secure_Blockchain-Based_Wallet_System_with_Multi-Factor_Authentication.pdf | Published version | 622.1 kB |
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With the increased use of blockchain technology the significance of digital currencies has grown making it crucial to ensure the security of blockchain wallets A blockchain wallets private key serves as proof of digital asset ownership thus it must be protected at all times Security threats such as phishing attacks can result in severe digital asset losses Therefore implementing rigorous authentication protocols is of vital importance to prevent unauthorized access This paper proposes a secure implementation of a blockchain wallet website by integrating four different multifactor authentication settings to enhance cryptographic keys and digital asset management We developed a comprehensive system model to visualize the system interactions and provide an adequate understanding of its architecture Furthermore the solution was implemented using Python and Ethereum libraries followed by extensive evaluation and testing The results show that system models enhance and facilitate the implementation and validation of blockchain wallets thereby contributing to the development of robust security measures
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