Singularity Blockchain Key Management via non-custodial key management

TL;DR

This paper introduces a novel non-custodial key management scheme for web3 wallets that simplifies key backup and recovery by integrating third-party authentication methods, reducing user burden and risk.

Contribution

It proposes a new backup method enabling non-custodial key recovery through third-party sign-in, enhancing usability and security over existing seed-phrase approaches.

Findings

Enables key backup via third-party OAuth providers.

Reduces user onboarding complexity.

Improves security by avoiding seed-phrases.

Abstract

web3 wallets are key to managing user identity on blockchain. The main purpose of a web3 wallet application is to manage the private key for the user and provide an interface to interact with the blockchain. The key management scheme ( KMS ) used by the wallet to store and recover the private key can be either custodial, where the keys are permissioned and in custody of the wallet provider or noncustodial where the keys are in custody of the user. The existing non-custodial key management schemes tend to offset the burden of storing and recovering the key entirely on the user by asking them to remember seed-phrases. This creates onboarding hassles for the user and introduces the risk that the user may lose their assets if they forget or lose their seedphrase/private key. In this paper, we propose a novel method of backing up user keys using a non-custodial key management technique that allows users to save and recover a backup of their private key using any independent sign-in method such as google-oAuth or other 3P oAuth.