Murdoch University Research Repository

Welcome to the Murdoch University Research Repository

The Murdoch University Research Repository is an open access digital collection of research
created by Murdoch University staff, researchers and postgraduate students.

Learn more

Enhanced Bitcoin with Two-Factor Authentication

Rezaeibagha, F. and Mu, Y. (2019) Enhanced Bitcoin with Two-Factor Authentication. International Journal of Information and Computer Security . In Press.

Abstract

Bitcoin transactions rely on digital signatures to prove the ownership of bitcoin. The private signing key of the bitcoin owner is the key component to enable a bitcoin transaction. If the signing key of a bitcoin is stolen, the theft who possesses the key can make a transaction of the bitcoin. In this paper, based on the distance-based encryption (DBE), we propose an enhanced version of bitcoin in order to protect the signing key. Our approach is based on our two-factor authentication, where the signing key cannot be retrieved without being identified via the password and biometric authentication scheme, and the user is only required to enter his password and fingerprint (or other biometric information such as a factual image) to retrieve the key. By doing this, we can effectively improve the bitcoin security and provide stronger authentication. An attractive feature of our scheme is that one of encryption schemes is asymmetric, in the sense that the decryption key (biometric information) is not stored in the device. We also provide the security model and proof to justify the security of our scheme.

Item Type: Journal Article
Murdoch Affiliation: Information Technology, Mathematics and Statistics
Publisher: Inderscience Enterprises Ltd.
Publishers Website: https://www.inderscience.com/index.php
URI: http://researchrepository.murdoch.edu.au/id/eprint/54694
Item Control Page Item Control Page