Reminisce: Blockchain Private Key Generation and Recovery Using Distinctive Pictures-Based Personal Memory

Jungwon Seo, Deokyoon Ko, Suntae Kim, Vijayan Sugumaran and Sooyong Park
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Jungwon Seo: Department of Computer Science and Engineering, Sogang University, 915 Ricci Hall 35, Baekbeom-ro, Mapo-gu, Seoul 04107, Korea
Deokyoon Ko: Nonce Lab Inc., 409 Seoul Startup Hub., 14 Magokjungang 8-ro, Gangseo-gu, Seoul 07801, Korea
Suntae Kim: Department of Software Engineering, Jeonbuk National University, 67 Baekje-daero, Deokin-gu, Jeonju-si 54896, Korea
Vijayan Sugumaran: Department of Decision and Information Sciences, School of Business Administration, Oakland University, Rochester, MI 48309, USA
Sooyong Park: Department of Computer Science and Engineering, Sogang University, 915A Ricci Hall 35, Baekbeom-ro, Mapo-gu, Seoul 04107, Korea

Mathematics, 2022, vol. 10, issue 12, 1-21

Abstract: As a future game-changer in various industries, cryptocurrency is attracting people’s attention. Cryptocurrency is issued on blockchain and managed through a blockchain wallet application. The blockchain wallet manages user’s digital assets and authenticates a blockchain user by checking the possession of a user’s private key. The mnemonic code technique represents the most widely used method of generating and recovering a private key in blockchain wallet applications. However, the mnemonic code technique does not consider usability to generate and recover a user’s private key. In this study, we propose a novel approach for private key generation and recovery. Our approach is based on the idea that a user can hold long-term memory from distinctive pictures. The user can generate a private key by providing pictures and the location of the pictures. For recovering a private key, the user identifies the locations of the pictures that are used in the private key generation process. In this paper, we experiment with the security and usability of our approach and confirm that our proposed approach is sufficiently secure compared to the mnemonic code technique and accounts for usability.

Keywords: blockchain wallet; blockchain; blockchain private key (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2022
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