🔑Security Protocols

The 1FUEL Wallet employs a multi-layered security architecture that combines cutting-edge cryptographic techniques with rigorous security practices. This approach is designed to protect users' assets from both external and internal threats while providing a secure and reliable user experience.

Multi-Party Computation (MPC) Cryptography: MPC enhances the security of transaction signing and key management by distributing the private key into multiple shares, ensuring that no single party ever has access to the entire key.

• MPC Protocol: The MPC protocol divides the private key into multiple shares, with each share held by a different party. The transaction is signed collaboratively, with each party contributing their share, but no single party ever reconstructs the full private key. This approach ensures that even if one party’s share is compromised, the private key remains secure.

• Distributed Trust: By distributing the key shares across multiple parties, MPC minimizes the risk of a single point of failure. This distributed trust model enhances the security of the wallet, making it significantly more difficult for attackers to compromise the system.

Two-Factor Authentication (2FA): 2FA adds an additional layer of security by requiring users to provide two forms of identification before accessing their accounts. This typically involves a combination of something the user knows (e.g., a password) and something the user has (e.g., a mobile device with a 2FA app).

• TOTP (Time-Based One-Time Password): TOTP is a widely used 2FA method where a one-time password is generated based on the current time and a shared secret key. The TOTP is only valid for a short period, typically 30 seconds, after which a new onetime password is generated. This method ensures that even if a user’s password is compromised, the attacker would still need access to the user’s 2FA device to gain access to the account.

Encryption and Data Protection: All sensitive data within the 1FUEL Wallet is encrypted using advanced encryption standards (AES) and elliptic curve cryptography (ECC).

• AES-256 Encryption: Data stored within the wallet, such as private keys and transaction history, is encrypted using AES-256, which is considered secure against current cryptographic attacks. AES-256 provides a high level of security by using a 256-bit key to encrypt and decrypt data.

• Elliptic Curve Cryptography (ECC): ECC is used for key generation and digital signatures, providing strong security with smaller key sizes compared to traditional RSA encryption. ECC’s smaller key sizes reduce the computational load on the wallet, making it more efficient without compromising security.

Regular Security Audits: To maintain a high level of security, the 1FUEL Wallet undergoes regular security audits conducted by independent third-party firms.

• Code Reviews: Security experts analyze the wallet’s source code to identify potential vulnerabilities and ensure that it adheres to security best practices.

• Penetration Testing: The platform undergoes penetration testing, where ethical hackers simulate attacks to identify weaknesses in the system. This proactive approach helps the development team address potential security issues before they can be exploited by malicious actors.

• Compliance Checks: Regular compliance checks ensure that the wallet’s security measures align with regulatory requirements and industry standards.