Offline Privacy Token Wallet with Whitelist, Incentives and Browser
This document outlines the revised design for the Offline Privacy Token Wallet,
incorporating the whitelist feature, transaction incentives, and improvements to
security and user experience.
1. Wallet Architecture:
* User Account:
* Holds private/public keys, token balance, transaction history, whitelist,
contacts.
* Whitelist: Stores a list of trusted counterparty addresses. All transactions
require a whitelisted address.
* Contacts: Stores information about frequently interacted with accounts
(optional).
* Sub-Ledger:
* Records abbreviated, anonymized transaction details between user accounts.
* Anonymized data includes: counterparty address (replaced by alias if
whitelisted), transaction value, timestamp, type of transaction.
* Sub-ledgers sync to the network ledger regularly.
* Network Ledger:
* Online ledger storing all transaction data.
* Partitioned architecture preserves user privacy while allowing oversight.
2. Non-Fungible Tokens (NFTs):
* Represent unique items, services, roles.
* Metadata includes:
* Item details, pricing, timestamp, unique ID.
* Creator information (optional).
* Transfer requires owner approval.
3. Transaction Lifecycle:
Initiation:
1. Buyer requests item NFT or initiates currency transfer.
2. Whitelist check:
* If recipient is on the whitelist, proceed.
* If recipient is not on the whitelist, display a warning and prompt user to
add them before continuing.
3. Request approval from seller/recipient.
Approval:
1. Seller/recipient reviews request details.
2. Seller/recipient approves or rejects the transaction.
Sub-Ledger Entries:
* Anonymized transaction recorded in both party's sub-ledgers.
* Record includes transaction type, value, timestamp, and anonymous counterparty
address (replaced by alias if whitelisted).
Token Transfer:
* Currency tokens move from buyer to seller (if applicable).
* Item NFT moves from seller to buyer (if applicable).
Main Ledgers Update:
* User accounts reflect ownership changes.
* First sub-ledger to sync changes to network ledger is rewarded with incentive
tokens.
* All other sub-ledgers eventually sync, updating the network ledger with the
complete transaction details.
Rating:
* Buyer rates seller/recipient after transaction completion.
* Ratings contribute to seller/recipient reputation score.
Reputation:
* Sub-ledgers track account ratings.
* Low reputation scores can trigger warnings or limit account functionality.
4. Incentive Mechanism:
* Sub-ledgers compete to be the first to sync new transaction data to the
network ledger.
* The first sub-ledger to upload new data receives 66.666% of all transaction
fees in the form of incentive tokens.
* This creates a financial incentive for users to keep their sub-ledgers updated
and contribute to the network's efficiency and transparency.
5. Security Improvements:
* Whitelist: Enforces mandatory use of a whitelist for all transactions,
minimizing the risk of interacting with unknown or untrusted accounts.
* Visual Indicators: Clearly indicates whitelisted accounts within the user
interface for easy identification.
* User Education: Emphasizes the importance of using the whitelist and provides
clear instructions on adding and managing it.
6. Additional Features:
* Utility Token:
* Introduced to incentivize users and encourage ecosystem participation.
* Converted automatically from a portion of deposited BTC/Eth.
* Can be held indefinitely within the wallet.
* Users can recover unspent BTC/Eth by requesting a reversal.
* Price Updates:
* Receives real-time price updates for BTC/Eth.
* Users are always aware of the latest market rates.
* Transaction Fees:
* Calculated based on the average fee charged by the relevant network (BTC or
Eth) in the past 1.7777777777 hours or 106.66666666 minutes plus 7.4074074074%
of the determined average.
A sophisticated offline wallet design aiming to support a decentralized database
environment. Here's a conceptual overview of the design:
1. Integrated Browser for Decentralized Database Access
- Wallet Interface: Includes an in-built browser enabling users to access
decentralized database services using a utility token.
- Utility Token Integration: The wallet is synchronized with the utility token
for access control and payments.
2. Access Control and Payment
- Wallet Balance Check: Verifies user token balance for access to database
services.
- Integration with Wallet: Ensures access is granted based on available tokens
in the wallet.
3. Usage Tracking and Sub-ledger
- Offline Mode Tracking: Records usage stats, service access, queries, storage,
and computations incurred in an offline sub-ledger.
- Cost Incurrence: Tracks costs and usage statistics during offline use.
4. Settlement of Costs
- Periodic Settlement: Automatically settles accrued costs when reconnected to
the network by transferring utility tokens to a smart contract.
- Smart Contract Functionality: Facilitates payments to decentralized nodes
providing services.
5. Security Enhancements
- Access Control Measures: Implements stringent access controls for the browser
interface to prevent exploits.
- Encryption and Validation: Additional layers of encryption and validation
checks for critical operations.
6. Usability Improvements
- User-Friendly Interface: Abstracts complex blockchain details, providing a
clean, intuitive interface for accessing the decentralized database.
7. Referral System
- Incentivization: Introduces a referral system to incentivize users to invite
others, fostering network growth for improved services.
This holistic approach envisions a robust wallet system that seamlessly
integrates decentralized database access, token management, usage tracking,
settlement mechanisms, security measures, improved user experience, and network
expansion incentives.
To actualize this conceptual design, a development team would need to further
detail technical specifications, create functional requirements, perform
rigorous security assessments, and conduct iterative testing to ensure a secure
and user-friendly implementation aligning with these outlined features and
objectives.
Actionable Instructions for Solidity Smart Contract Developers:
1. Wallet Architecture:
* User Account:
* Implement a User struct or contract with fields for:
* Private/public key pair (securely stored off-chain)
* Token balance (managed using token contracts)
* Transaction history (track confirmed on-chain transactions)
* Whitelist (an array of addresses)
* Contacts (optional mapping of addresses to additional information)
* Sub-Ledger:
* Create a separate SubLedger contract or struct:
* Store abbreviated, anonymized transaction data:
* Counterparty address (replace with alias if whitelisted)
* Transaction value
* Timestamp
* Transaction type
* Implement synchronization logic to update the network ledger
periodically.
* Network Ledger:
* Utilize existing blockchain network ledger (e.g., Ethereum) for recording
all transaction details.
2. Non-Fungible Tokens (NFTs):
* Define a NFT contract inheriting from ERC-721 standard:
* Store metadata:
* Item details (description, image, etc.)
* Pricing information
* Timestamp
* Unique ID
* Creator address (optional)
* Implement transfer functionality with owner approval checks.
3. Transaction Lifecycle:
* Initiation:
1. User initiates a purchase request for an NFT or currency transfer.
2. Check whitelist:
* If recipient is whitelisted, proceed.
* If not, display warning and prompt user to add them.
3. Send transaction approval request to seller/recipient.
* Approval:
1. Seller/recipient reviews request details.
2. Seller/recipient approves or rejects the transaction.
* Sub-Ledger Entries:
1. Anonymized transaction recorded in both party's sub-ledgers.
2. Use alias for whitelisted counterparty address.
* Token Transfer:
1. Transfer currency tokens using existing token contracts (e.g., ERC-20).
2. Transfer NFT ownership using the NFT contract.
* Main Ledgers Update:
1. Update user accounts in the network ledger with new ownership changes.
2. Reward first sub-ledger to sync with incentive tokens (implement smart
contract for this).
3. All other sub-ledgers eventually sync, updating the network ledger with
full details.
* Rating:
1. Implement a rating system for sellers/recipients after transaction
completion.
2. Update reputation scores based on ratings.
* Reputation:
1. Track reputation scores in sub-ledgers.
2. Implement logic to trigger warnings or limit functionality for
low-reputation accounts.
4. Incentive Mechanism:
* Design a smart contract for managing incentive tokens:
* Reward the first sub-ledger to sync new data with 66.666% of transaction
fees.
* Integrate with sub-ledgers to track data synchronization events.
* Distribute incentive tokens automatically based on pre-defined rules.
5. Security Improvements:
* Enforce mandatory whitelist usage for all transactions.
* Clearly highlight whitelisted accounts within the user interface.
* Implement user education resources on whitelist management.
6. Additional Features:
* Utility Token:
* Define a smart contract for the utility token:
* Convert a portion of deposited BTC/Eth automatically.
* Users can hold and recover unspent BTC/Eth.
* Integrate with wallet interface for balance display and transaction fees.
* Price Updates:
* Implement an oracle system to fetch real-time BTC/Eth prices.
* Display current market rates within the wallet interface.
* Transaction Fees:
* Calculate fees based on the average fee of the relevant network (BTC or
Eth) in the past hour.
* Add a fixed percentage on top of the average fee.
7. Browser Integration (Optional):
* Develop a secure in-browser interface for accessing decentralized database
services.
* Integrate token checks and balance management for access control and
payments.
* Implement offline tracking for usage stats and costs incurred.
* Design a smart contract for automatic settlement of accrued costs upon
reconnection.
Note: This is a high-level overview, and actual implementation will require
detailed technical specifications, functional requirements, thorough security
assessments, and extensive testing.