As developers of the Unhosted Wallet, we would like to provide our valued users with an in-depth overview of our approach to private key management. At the heart of our operations lies a commitment to ensure both security and privacy for our users. We have adopted advanced technological methods to maintain the utmost safety standards, ensuring that our users' critical data, like private keys, are securely stored and accessed.
Private Key Storage Mechanism
Our platform employs a sophisticated private key storage mechanism, meticulously designed to maximize security while granting users full control over their cryptographic keys
The core of our security model revolves around the use of the AES 256 GCM encryption algorithm. This algorithm is widely recognized for its strength and resistance to cryptographic attacks, making it one of the most reliable choices for encrypting sensitive data.
Seed Phrase Encryption
Every user's seed phrase, a critical component for blockchain operations, is encrypted using the aforementioned AES 256 GCM algorithm. The encryption key is generated from a password, which is solely and independently created by the user.
User's Role in Security
It's essential to note that the password for encryption is neither stored on our servers nor backed up by us. This mechanism ensures that the user remains the sole custodian of their private keys. This is a conscious choice, reflecting our commitment to a non-custodial wallet system where users' privacy is paramount.
Storage on User's Device
The encrypted seed phrase, post encryption, is stored securely on the user's device. This local storage method ensures that the data remains physically inaccessible to any third-party entities, including our team. We do not have any means or methods to access the encrypted seed phrases stored on the user's devices.
Collection of Information
We collect several types of data points to provide and improve our services:
Personally Identifiable Information
This includes your nickname that you provide, blockchain address, email address if provided. We use this information to verify your identity and contact you.
We collect passwords, credentials, security questions, to ensure the security of your account and to authenticate your access to our services.
When you send us emails, texts, or engage with our AI chat bot, we may retain those communications to process your inquiries and respond to your requests.
We collect information about your location, such as your region, IP address and other device-related information. This helps us provide location-specific services and enhances the security of our platform.
Our system may track your activity within our services, including network monitoring, clicks, mouse position, scrolling. This information helps us understand user behavior and improve our services.
Our approach combines advanced cryptographic techniques with a user-centric security model, exemplifying our commitment to safeguarding user data and fostering trust.
Web Crypto Module
To ensure the reliable encryption and decryption of the seed phrases, we leverage the web crypto module. Modern browsers come equipped with this module, which offers a suite of tools and utilities for secure cryptography operations.
For seamless interactions with various blockchains, we've integrated web3 and ethersjs into our platform. These are the two most widely used, tested, and trusted libraries in the blockchain community, ensuring our users get a reliable experience.
Smart Contract Wallet Management
Incorporating biconomy helps us effectively manage the smart contract wallets our platform relies on. This integration guarantees our users smooth transactions and interactions within the blockchain ecosystem.
Declaration of Intent
We, the team behind Unhosted Wallet, declare that to the best of our knowledge and abilities, no malicious activities or operations are being executed on our platform that might compromise user data or harm our users in any capacity. Our commitment remains towards creating a secure environment where our users can operate with peace of mind, knowing their assets and data are in safe hands.
Use of Information
The information we collect is used to provide, maintain, protect, and improve our services.
We take the security of your data seriously. We implement a variety of security measures to maintain the safety of your personal information when you enter, submit, or access your personal information.
Changes to Policy