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IEEE Std 2140.5-2020 pdf free download
IEEE Std 2140.5-2020 pdf free download.IEEE Standard for a Custodian Framework of Cryptocurrency.
6.2 Cryptocurrency model
In blockchain projects. the native-token and token-issuing proposal defines the metadata of token assets.
Custody service supports cryptocurrency and token assets by accepting the token issuing proposal.
6.3 Storage model
The storage model defines the blockchain wallet standard for custody framework, which lead to technical solutions for asset custody.
Hardware can be used to ensure the security level of private key storage. e.g.. a hardware wallet ledger or Hardware Security Module (H SM).
According to the frequency of withdrawals of a custody wallet, those with high withdrawal frequencies are usually stored online, usually limited to the exchanges’ withdrawal addresses and user addresses; these are called hot wallets, By contrast, those with low withdrawal frequencies may be stored offline, not usually available over inter- or intranet without custodian action, and are called cold wallets.
6.3.1 Multi-signature storage model
For the multi-signature schema, the private keys that make up the multi-signature address are stored in different wallets which arc held by multiple people/entities. so the security is extremely high.
To enable multi-signature. the following storage models can be used:
Afiilii—cignuturc scheme: Some blockchain wallet protocols support multi-signature natively. The custody address is set to a N/M multi-signature address. The customer deposits token assets to the custody address. For withdrawal from the custody address, the signature of the withdrawal transaction has to meet the N/M threshold.
— Multi—signature scheme will, smart contract: Some blockchain wallet protocols do not support multi-signature natively. Smart contract can be deployed to the chain to support multi-signature. As a prerequisite, the smart contract specification of’ the chain has to be able to verify the signature in the smart contract and restore the public key and address of the signer. Any withdrawal transactions shall call the smart contract with public key (address) list of signers. the smart contract shall restore the address out of the signature. Fora series of transactions to the same withdrawal, the restored signatures shall be compared with the address list in the small contract, when the number of signatures reaches the threshold, the smart contract shall proceed the token transferring.
The multi-keys to sign can be held by multiple entities. There are two storage mode of key storage. as follows:
Full custoth’: All keys are stored and managed by a custodian.
co-manage custoth’: Keys are stored and managed by both the custodian and customer. For the NIM multi-signature schema, the custodian and customer split the keys into N 1 and N2 respectively. NI — N2-M.Nl<NandN2<N.IEEE Std 2140.5-2020 pdf free download.
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