Cryptosat, a startup specializing in launching Trusted Execution Environments (TEE) for blockchain protocols via satellites, has collaborated with Dfns Labs, a Web3 wallet infrastructure firm, to introduce the world’s first “Space Wallet.” This groundbreaking solution utilizes satellite technology to enhance the security of high-value transactions and safeguard against physical access-based attacks.
Threshold signatures are cryptographic techniques that require multiple signers to cooperate, each holding a portion of a shared private key. However, generating signatures in a threshold setting can be costly regarding network overhead, especially when secret shares are stored on devices with limited network capabilities or when coordination happens over unreliable networks.
The Space Wallet incorporates a cryptographic scheme called Flexible Round-Optimized Schnorr Threshold Signatures (FROST) aims to reduce network overhead during signing operations while protecting against forgery attacks. It improves existing threshold signature protocols by enabling signing operations to be performed in a single round without limiting concurrency.
FROST can be used either as a two-round protocol or optimized to a single-round signing protocol with a pre-processing stage. It improves efficiency by allowing the protocol to abort if a participant misbehaves, identifying and excluding them from future operations. This feature aligns with practical deployment scenarios and improves the protocol’s efficiency.
How the Space Wallet is Secured
By implementing a threshold signature scheme with a satellite as a co-signer, the Space Wallet ensures that the private key remains inaccessible, even to the most determined attackers. Cryptosat’s satellites, positioned in low-Earth orbit, offer unparalleled security by staying beyond the reach of well-funded hackers. The company also employs advanced monitoring techniques to detect any attempts to compromise its satellites promptly.
All transactions conducted through the Space Wallet are fully auditable, and spoofed transactions are meticulously recorded, providing an additional layer of security. Furthermore, Cryptosat’s satellites enforce supplemental security measures, including the requirement of confirmation for high-value transactions, thus enhancing protection against potential threats.
The collaboration between Cryptosat and Dfns Labs showcases the efficiency and effectiveness of threshold signature schemes, even in environments with limited resources. The successful implementation of the Space Wallet exemplifies the immense potential of utilizing space as a physically-isolated environment to meet the rigorous security demands of institutional wallet solutions.
Currently supporting Bitcoin transactions, the Space Wallet has plans to expand its compatibility to include other blockchain networks in the future. This expansion will further amplify the reach and impact of this innovative solution.
Cryptosat’s commitment to constructing and launching satellites that empower blockchain and cryptographic protocols underscores its dedication to providing tamper-proof and secure environments. These satellites serve as a secure root of trust, guaranteeing the confidentiality and integrity of sensitive computations and data.
On the other hand, Dfns is a cybersecurity company that offers wallet infrastructure for Web3. They provide a highly secure Wallet-as-a-Service (WaaS) infrastructure to grant app developers secure access to blockchains through a decentralized key management network.
The Space Wallet represents a significant leap forward in transaction security, showcasing the potential of trustless execution environments in the space industry. By combining the expertise of Cryptosat and Dfns Labs, this innovative solution unlocks new possibilities for secure and auditable transactions, fostering increased trust and confidence within the blockchain ecosystem.