Ethereum Series (12): Create secure multi-signature wallets and advanced settings

Create a multi-signature wallet in mist

Mist Ethereum Wallet There is an option to use a multi-signature wallet to make the balance in your wallet more secure. The advantage of using a multi-signature wallet is that it requires multiple accounts to be approved together to extract large sums from the balance. Before creating a multi-signature wallet, you need to create multiple accounts.

Creating an account file in mist is easy. Click "Add Account" under the "Account" menu. Select a high-security and easy-to-remember password (remember no password recovery option), confirm that the account creation is complete. Create a minimum of 2 accounts. If you prefer, the second account can be created on another computer with mist running (which in theory can make multiple signatures more secure). You only need a second account's public key (deposit address) to create a multi-signature wallet (copy/paste, do not enter manually). Because you need the first account to create a multi-signature wallet contract, the first account must be on the computer where you created the multi-signature wallet.

Now that you've created your account, keep it secure and back up (if you don't, your computer crashes and your balance is lost). Click "Backup" at the top of the menu. Select "KeyStore" folder, counterattack/select "Copy" (Do not select "Cut", otherwise the result will be very bad). Go back to the desktop, counterattack in a blank area, and select Paste. You may want to rename this "KeyStore" folder "Ethereum-keystore-backup-year-month-day" so that it can be quickly identified later. At this point you can add the contents of the folder to the compressed file (if it is an online backup, it is best to use another secure and easy-to-remember password to password protect the file), copy to the USB stick, burn to CD/DVD, or upload to the online storage device (Dropbox/google drive, etc.).

You should now add about less than 0.02 ethereum to the first account (the one used to create a multi-signature wallet). This is the transaction fee required to create a multi-signature wallet. Another 1 ether (or more) is needed, because mist now needs to do so to ensure that the wallet contract trade has enough "gas" to perform properly ... So for the newcomers, a total of less than 1.02 ether coins will be required.

When you create a multi-signature wallet, you enter the full address of all accounts attached to it. I recommend that you copy/paste each address into a simple text editor (Notepad/kedit, etc.) and select the "Copy Address" option from the right-hand bar after mist each account Details page. Do not enter the address manually, or at the risk of entering an error, you may send the transaction to the wrong address, thus losing the balance.

We are now ready to create a multi-signature wallet. Under "Wallet Contract", select "Add Wallet Contract". A name, select the first account holder, select "Multi-signature wallet contract". You will see this text appear:

"This is a joint account that is jointly controlled by X-holders. You can send up to X of etheric coins per day. Any transactions exceeding the daily limit are required to be confirmed by an x holder. ”

Set the number of holders (accounts) attached to this multi-signature wallet, the daily withdrawal limit (this requires only one account to make these payments, and how many holders (accounts) are allowed to approve withdrawals exceeding the daily limit.

Now copy/paste the account address in the text editor before adding, confirm all the settings are correct, click on the "Create" button at the bottom. Then you need to enter a password to send the transaction. In the "Wallet contract" section, a new wallet will appear, telling you to "create".

Once the wallet is created, you can see the contract address on the screen. Select the entire address, copy/paste into the new file in the text editor, save to the desktop, named "Ethereum-wallet-address. txt" or other name.

Now it's time to back up the "ethereum-wallet-address. txt" by backing up the contract file, and then you can load the new multi-signature wallet at ETH with this address.

If you are recovering from a backup, simply copy the files from the "Ethereum –keystore– Backup" folder to the "KeyStore" folder mentioned in the first section of this guide. If it is installed on a machine that has never installed mist (the first time an account is created and a folder is established), you may need to create a "KeyStore" folder. If you want to recover a multi-signature wallet, do not select "Multi-signature wallet contract" as before we created it, just select "Import wallet".

Troubleshooting: mist cannot be synchronized. A useful solution is to synchronize the PC hardware clock with the NTP server to ensure that the time is correct and restarted. Mist started after synchronization, but white screen appeared. It is possible that you are running the "xorg" video Drive (Ubuntu, Linux mint, etc.) on a Linux-based operating system and try to install the manufacturer's video drive. Prompt for "bad password". On the current version of Mist, this could be a false hint. Restart the mist, the problem will be resolved (if you entered the correct password is true). using ETH

Each option associated with using Geth's available Key management applies equally to the ETH. Here are the options related to "account":

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> ETH account List//list all keys available in wallet. > ETH account New//Create a new key and add it to the wallet. > ETH account Update [<uuid>|<address>, ...]//Decrypt and Re-encrypt given keys. > ETH account import [<uuid>|<file>|<secret-hex>]//import keys from given source and place in Walle T.

Here are the options related to wallets:

1	> ETH Wallet Import <file>//import a presale wallet.

Note: the "Account import" option can only be used to import generic key files. The "Wallet import" option can only be used to import presale wallets.

You can also access key management from the integrated console (with built-in console or Geth accessory):

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> web3.personal { listaccounts: [], getlistaccounts:function (callback), Lockaccount: function (), newaccount:function (), unlockaccount:function () }

using Ethkey (not recommended)

Ethkey is a CLI tool implemented by C + + that allows you to interact with ethereum wallets. You can use it to list, inspect, create, delete, and modify keys, as well as check, create, and sign transactions. We assume that you have not yet run a client, such as any client in the ETH or Aleth series. If you've run, you can skip this section. To create a wallet, run Ethkey with the Creatwallet command:

1	> Ethkey Createwallet

Please enter the administrator password to protect the KeyStore (set a high security. ): You will be asked for an "administrator" password. This protects your privacy, and it defaults to the password for any of your keys. You need to enter the same text again to confirm.

Note: Use a security-high, randomly generated password.

We can simply list the keys within the purse by using the list directive:

1 2	> Ethkey list No keys found.

We haven't created any keys yet, and that's what it tells us. Let's create one. To create the key, we need to use the new command, which requires a name--which is also the name of the account we want to give the wallet. What we call "testing":

1	> Ethkey New test

Enter a password to protect the account (or use the Administrator password to enter it). This will prompt you to enter a password to protect the key. If you click Enter only, the default "administrator" password will be used. This means that when you want to use the account, you do not have to enter the key password (because it remembers the administrator password). In general, you should try to set a different password for each key, as this will prevent one password from being compromised and other accounts being compromised. However, for your convenience you may decide to use the same password for low-security accounts.

Here, we use a very imaginative password 123 (never use such a simple password, unless it is a temporary test account). After you enter the password, it will let you enter the confirmation again. Enter 123 again. Since you have set its password, it will give you a hint of the password, which will be displayed each time you enter. The prompt is stored in the wallet and is protected by the administrator password. Let's enter a bad password hint in 321 reverse order.

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> ethkey New test Enter a passphrase with which to secure this account (or nothing to use the master passphrase): Plea Se confirm the passphrase by entering it again:enter a hint to help you remember this passphrase:321 backwards Created K EY 055dde03-47ff-dded-8950-0fe39b1fa101 name:test Password hint:321 backwards ICAP: XE472EVKU3CGMJF2YQ0J9RO1Y90BC0LDFZ Raw hex:0092e965928626f8880629cec353d3fd7ca5974f

All normal (or direct) ICAP addresses are prefaced with XE, which makes them easy to identify. Please note that this key has another identifier after the key created, called the UUID. This is a unique key identifier that has nothing to do with the account itself. Knowing it doesn't help attackers find your identity online. It is also the file name of the key, which you can find in ~/.web3/keys (Mac or Linux) or $home/appdata/web3/keys (Windows). Let's make sure it's working properly by listing the keys in the wallet:

1 2	> Ethkey list 055dde03-47ff-dded-8950-0fe39b1fa101 0092e965 ... XE472EVKU3CGMJF2YQ0J9RO1Y90BC0LDFZ Test

It reports a key per row (there is only one key in total). In this example, the key is stored in a 055dde file with an ICAP address that begins with Xe472evk. It's not easy to remember, so it would be helpful to have a proprietary name, or test it.