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Paper 2023/714

A Two-Party Hierarchical Deterministic Wallets in Practice

ChihYun Chuang, AMIS
IHung Hsu, AMIS
TingFang Lee, NYU Grossman School of Medicine

The applications of Hierarchical Deterministic Wallet are rapidly growing in various areas such as cryptocurrency exchanges and hardware wallets. Improving privacy and security is more important than ever. In this study, we proposed a protocol that fully support a two-party computation of BIP32. Our protocol, similar to the distributed key generation, can generate each party’s secret share, the common chain-code, and the public key without revealing a seed and any descendant private keys. We also provided a simulation-based proof of our protocol assuming a rushing, static, and malicious adversary in the hybrid model. Our master key generation protocol produces up to total of two bit leakages from a honest party given the feature that the seeds will be re-selected after each execution. The proposed hardened child key derivation protocol leads up to a one bit leakage in the worst situation of simulation from a honest party and will be accumulated with each execution. Fortunately, in reality, this issue can be largely mitigated by adding some validation criteria of boolean circuits and masking the input shares before each execution. We then implemented the proposed protocol and ran in a single thread on a laptop which turned out with practically acceptable execution time. Lastly, the outputs of our protocol can be easily integrated with many threshold sign protocols.

Note: Added DOI of publication

Available format(s)
Publication info
Published elsewhere. In Proceedings of the 20th International Conference on Security and Cryptography - SECRYPT
Secure Two-party ComputationBIP32Wallets
Contact author(s)
chihyun @ maicoin com
glen @ maicoin com
Ting-Fang Lee @ nyulangone org
2023-07-21: last of 2 revisions
2023-05-18: received
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Creative Commons Attribution-NonCommercial-ShareAlike


      author = {ChihYun Chuang and IHung Hsu and TingFang Lee},
      title = {A Two-Party Hierarchical Deterministic Wallets in Practice},
      howpublished = {Cryptology ePrint Archive, Paper 2023/714},
      year = {2023},
      doi = {10.5220/0012138700003555},
      note = {\url{https://eprint.iacr.org/2023/714}},
      url = {https://eprint.iacr.org/2023/714}
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