SatSaver LLC (20240338699). CONFIGURING BLOCKCHAIN WALLET WITH SECURED SEED PHRASE simplified abstract
Contents
CONFIGURING BLOCKCHAIN WALLET WITH SECURED SEED PHRASE
Organization Name
Inventor(s)
Brian Fosse of Spearfish SD (US)
John Lott of Wichita Falls TX (US)
Daniel Herbert of Seattle WA (US)
Zachary West of Seattle WA (US)
Hedvig Maria Beetz Von Beetzen of Vashon WA (US)
CONFIGURING BLOCKCHAIN WALLET WITH SECURED SEED PHRASE - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240338699 titled 'CONFIGURING BLOCKCHAIN WALLET WITH SECURED SEED PHRASE
The patent application describes methods for configuring a blockchain wallet using a legitimate seed phrase and a pin word.
- Generating a legitimate seed phrase with a sequence of legitimate words.
- Identifying the starting position of a first word in the encrypted seed phrase based on a pin word.
- Determining the position of at least one decoy word within the encrypted seed phrase.
- Generating the encrypted seed phrase with the first word, decoy word, and legitimate words in a specific direction.
- Configuring a blockchain wallet based on the legitimate seed phrase to access cryptocurrency funds.
- Key Features and Innovation:**
- Use of a pin word to determine the starting position of a seed phrase. - Inclusion of decoy words to enhance security. - Configuration of a blockchain wallet based on the legitimate seed phrase.
- Potential Applications:**
- Enhancing the security of blockchain wallets. - Simplifying the process of configuring a blockchain wallet. - Protecting cryptocurrency funds from unauthorized access.
- Problems Solved:**
- Vulnerability of seed phrases to hacking. - Difficulty in remembering complex seed phrases. - Ensuring secure access to cryptocurrency funds.
- Benefits:**
- Improved security for blockchain wallets. - Ease of use for individuals configuring wallets. - Protection of cryptocurrency assets.
- Commercial Applications:**
Blockchain Wallet Security Enhancement: Implementing this technology can attract users concerned about the security of their cryptocurrency funds, potentially leading to increased adoption of blockchain wallets in the market.
- Questions about Blockchain Wallet Configuration:**
1. How does the use of decoy words enhance the security of the encrypted seed phrase?
- Decoy words help to confuse potential attackers and make it harder for them to decipher the legitimate seed phrase.
2. What are the advantages of configuring a blockchain wallet based on a legitimate seed phrase?
- Configuring a wallet with a legitimate seed phrase ensures secure access to cryptocurrency funds and simplifies the process for users.
Original Abstract Submitted
in general, various embodiments of the present invention provide methods, apparatuses, systems, computing devices, computing entities, and/or the like for configuring a blockchain wallet. various embodiments involve generating a legitimate seed phrase that comprises a sequence of legitimate words; identifying, based on a pin word, a starting position within an encrypted seed phrase of a first word found in a first position in the legitimate words, a position of at least one decoy word within the encrypted seed phrase, and a direction in which the legitimate words proceeds within the encrypted seed phrase; generating the encrypted seed phrase that comprises the first word in the starting position, the decoy word in the position, and the legitimate words proceeding in the direction to form a sequence of encrypted words; and configuring, based at least in part on the legitimate seed phrase, a blockchain wallet to access cryptocurrency funds for an individual.
