Wallet recovery method
AssigneeCoinbase, Inc.
InventorPeter Jihoon Kim
Life of this patent
Estimating the term…
Abstract
Systems and methods for blockchain wallet recovery, including: receiving a wallet recovery request from a user; sending a signed recovery transaction to the wallet, the signed recovery transaction comprising recovery instructions; and providing wallet access to the user, according to the recovery instructions, when a recovery condition is met. In examples, the recovery transaction is signed by a recovery key, different from a set of old wallet owner keys, that is associated with the wallet; the recovery instructions include new owner address(es) associated with a set of new owner keys; and providing wallet access includes activating the new owner addresses for the wallet after the recovery transaction is verified as signed by the recovery key.
Claims20
A method comprising:
- with a third party system that manages a recovery account of a multi-owner wallet:
- receiving, from a requestor user device, a wallet recovery request for the multi-owner wallet, the multi-owner wallet associated with a set of owner accounts and the recovery account;
- verifying that a user identity identified in the wallet recovery request is an owner of the multi-owner wallet;
- after verifying the user identity, signing a challenge initiation request using a private key of the recovery account;
- transmitting the signed challenge initiation request to the multi-owner wallet, wherein the multi-owner wallet initiates a waiting period for wallet key replacement of the multi-owner wallet upon verification of the signed challenge initiation request, wherein the multi-owner wallet provides a user of the requestor device with access to the multi-owner wallet upon expiration of the waiting period, absent receipt of an abort message;
- monitoring to identify an abort condition during the waiting period;
- and
- in response to identifying the abort condition, transmitting to the multi-owner wallet an abort message signed by the private key of the recovery account.
A method comprising:
- with a wallet system that manages a multi-owner wallet for managing at least one asset recorded on a blockchain:
- receiving at least one signed recovery blockchain transaction that identifies a new public key;
- and
- responsive to the at least one signed recovery blockchain transaction, recovering the wallet by adding the new public key to a set of owner accounts controlling wallet operation.
Dependencies are inferred from the claim text.