Application US20180337774

PRIVATE KEY DECRYPTION SYSTEM AND METHOD OF USE
[+] Show Details

US20180337774

1. A host computer system comprising: (4) (5)

a service;

a master key loader configured to store an operational master key in memory of the service;

a database having an address and an encrypted private key stored in association with one another;

a web application configured to receive a request for payment to a bitcoin address, the request for payment including an amount of bitcoin to be paid, generate an unsigned transaction in response to receiving the request for payment, the unsigned transaction including the amount of bitcoin to be paid in the request from payment, and request a signing of the unsigned transaction to create a signed transaction; and

a payment module configured to receive the request for signing the transaction, determine the address corresponding to the bitcoin address in the unsigned transaction, determine the encrypted private key stored in association with the address, decrypt the encrypted private key with the operational master key to generate a decrypted private key, and sign the transaction with the decrypted private key to create the signed transaction, the web application configured to receive the signed transaction, and broadcast the signed transaction over the bitcoin network.

2. The host computer system of claim 1, further comprising: (0) (1)

3. The host computer system of claim 1, further comprising a freeze flag logic configured to detect a freeze flag on-state, disallow signing of the transaction in response to detecting the freeze flag on-state, detect a freeze flag off-state, and allow signing of the transaction in response to detecting the freeze flag off-state. (1) (0)

5. The host computer system of claim 1, further comprising: (0) (2)

6. The host computer system of claim 1, wherein the web application is configured to receive, prior to receiving the request for payment from a customer computer system, a request for address, and request an address from the checkout module, the checkout module configured to receive the request for address for generating the address and the private key in response to the request for address, store the address and the encrypted private key in association with one another, and provide the address to the web application, the web application configured to receive the address from the service, and transmit the address to the customer computer system. (0)

7. A method of transacting bitcoin comprising: (4) (12)

storing, by a service, an operational master key in memory of a service; and

storing, by the service, the address and the encrypted private key in association with one another;

receiving, by a web application, a request for payment to a bitcoin address, the request for payment including an amount of bitcoin to be paid;

generating, by the web application, an unsigned transaction in response to receiving the request for payment, the unsigned transaction including the amount of bitcoin to be paid in the request from payment;

requesting, by the web application, a signing of the unsigned transaction to create a signed transaction;

receiving, by the service, the request for signing the transaction;

determining, by the service, the address corresponding to the bitcoin address in the unsigned transaction;

determining, by the service, the encrypted private key stored in association with the address;

decrypting, by the service, the encrypted private key with the operational master key to generate a decrypted private key;

signing, by the service, the transaction with the decrypted private key to create the signed transaction;

receiving, by the web application, the signed transaction; and

broadcasting, by the web application, the signed transaction over the bitcoin network.

8. The method of claim 7, further comprising: (0) (2)

9. The method of claim 7, further comprising: (1) (4)

detecting, by the service, a freeze flag on-state;

disallowing, by the service, signing of the transaction in response to detecting the freeze flag on-state;

detecting, by the service, a freeze flag off-state; and

allowing, by the service, signing of the transaction in response to detecting the freeze flag off-state.

10. The method of claim 9, further comprising: (0) (1)

11. The method of claim 7, further comprising: (0) (7)

creating, by a key ceremony application, a for-distribution master key;

storing, by the key ceremony application, the for-distribution master key in the memory;

splitting, by the key ceremony application, the for-distribution master key into N shares;

distributing, by the key ceremony application, the N shares among N custodians;

clearing, by the key ceremony application, the for-distribution master key from the memory;

receiving, by the service, at least M of the N shares, where M is equal to or less than N; and

deriving, by the service, the operational master key from the M shares before storing the operational master key in the memory.

12. The method of claim 7, further comprising: (0) (6)

receiving, by the web application prior to receiving the request for payment from a customer computer system, a request for address;

requesting, by the web application, an address from a service;

receiving, by the service, the request for address for generating, by the service, the address and the private key in response to receiving the request for address, and storing, by the service, the address and the encrypted private key in association with one another;

providing, by the service, the address to the web application;

receiving, by the web application, the address from the service;

transmitting, by the web application, the address to the customer computer system.

13. A computer-readable medium having stored thereon a set of instructions that, when executed by a processor of a computer carries out a method of transacting bitcoin comprising: (0) (12)