The legal-officer-based social recovery of the logion wallet awarded a Web3 Foundation Grant
We are delighted to announce that the legal-officer-based social recovery of the logion wallet has been awarded a Web3 Foundation grant.
What better way to start 2022 for logion than to see its innovative protection for digital assets, the team donated, the open source way, to the Polkadot community, receive the support of a Web3 Foundation grant.
The Web3 Foundation provides “grants that [they] believe will return the highest impact on the Web 3.0 ecosystem over the long term.” For logion, it’s a strong recognition of the importance of providing a much better digital asset protection to Web3 users.
We would like to thank all committee members for their strong guidance and feedback on the delivery of this first milestone.
Protect your assets, request for their recovery
Designed as an actionable solution, the logion wallet’s social recovery feature ensures web3 users to recover access to their wallet when needed with the help of neutral and independent legal officers.
To benefit from this protection, users will have to carry out two distinct processes in time.
- The account protection request whereby the wallet user will sign up for a logion wallet and request for the protection of — at least — two legal officers of his/her choice among the logion Legal Officers’ list.
- The account recovery request whereby the user will provide the address on which the recovery process should be executed to its appointed logion Legal Officers, who will then, after strict due diligence, vouch for the on-chain recovery option. Using these vouchers, the user can ultimately claim the access to the lost account using the new one. This request can only be performed when the user’s account is protected (see above process). Find the script of the complete process here.
Components
Here is what has been built as part of this first milestone:
- The logion’s Substrate node version 0.1.0 based on Substrate Node Template v3., including the recovery pallet in its runtime. Find the code here.
- The off-chain service for handling private data (i.e. user identity information). The recovery (and upcoming multisig) options require to operate KYC processes implying confidential data that must not be published on-chain. These private data are thus stored in the legal officer’s database, whose content is not shared across the network. The off-chain service therefore acts as a gateway, enabling effective querying and exploration of the database when managing protection requests. Find the code of the off-chain service here.
- The logion’s Web Application (React/TypeScript) enabling wallet users and legal officers to interact with each other and carry out account’s protection and recovery processes (fully described here). For increased security and interoperability, the account keys are managed with Polkadot JS’s browser extension.
What’s next?
Node directory
The logion network is organized as a peer-to-peer (P2P) network where only nodes owned by legal officers can join. Those legal officers are onboarded within a clear and transparent framework As such we have to implement a node directory service to enable wallet users to select the legal officer they trust, thus choosing the node they want to connect to. The directory service will read the on-chain list of authorized nodes and link it to additional information about the logion legal officer actually managing each node.
Distributed backup
To keep the off-chain logic as secure and decentralized as possible, we will implement an IPFS cluster storing encrypted backups of the databases. In case of a node defect, this ensures private data integrity by enabling logion Legal Officers to rebuild their node from scratch.
Multisig functionality
Protecting digital assets storage also means protecting wallet users from unwanted transfers (e.g. in case of theft). This can be accomplished by requiring multiple signatures from designated guardians — from the owner, and/or a beneficiary, and from one or more logion Legal Officers — to authorize the execution of transactions with high-value assets. In the near future, the logion wallet will thus also feature a multisig functionality.
Built as a decentralized network and an open-source platform with Substrate, logion is easily integrable with other applications through APIs. Hence, the logion wallet’s functionalities will be available for other wallets of the blockchain ecosystem, offering a legal protection to any kind of digital asset that can be exchanged using Polkadot’s Cross-Chain Message Passing (XCMP).
Want to build the Web3 legal protection with us? Do not hesitate to reach out if you would like to get more information about the project, participate and/or follow our social media pages.
Website | Linkedin | Twitter | Discord
logion
logion is a public blockchain operated by a decentralized network of international legal officers that provides legal protection for all digital assets and digital transactions. logion empowers Web 3.0 with a decentralized legal protection as-a-service so that people can take full ownership of the value they create and exchange.
Web3 Foundation
Established in Zug, Switzerland by Ethereum co-founder and Chief Technology Officer Gavin Wood, the Web3 Foundation funds research and development teams building the stack of technologies behind the decentralized web. Polkadot is the Foundation’s flagship project.
Learn more about Web3 Foundation by visiting their website.
Stay up to date with the latest developments by following them on Medium or Twitter.
