Please describe your proposed solution

Our wallet plugin lets its users have full access and control over their wallet and digital assets without the risk of private key or seed phrase mismanagement. This feature is achieved by using a unique keyless security model based on advanced cryptographic techniques, eliminating traditional private keys or seed phrases.

Details:

Unlike traditional wallets that provide users with a private key to access their wallets which provides a single point of failure and vulnerability, this wallet componenet provides a keyless security model that lets users create/recover their wallets without having private keys.

This wallet component makes this possible by providing a Three-Factor Authentication (3FA) system during wallet creation/recovery. These 3 authentication forms can be:

Your Email Address/or Social Logins: Your email address which you control will be required.

SMS or Authentication App: secondary verification will be done either via SMS or other authentication apps such as Google Authenticator.

Recovery File: The recovery file is stored on your cloud backup such as iCloud/google drive and can be unlocked by only you. Users are advised to backup their recovery file in more than one location.

For wallet recovery, all of these three authentication forms must be provided which removes the single point of failure found in traditional wallets’ private key models and increases wallet security.

This Wallet Componenet utilizes Multi-Party Computation (MPC) which involves splitting traditional private keys into multiple pieces and distributing them in different locations. MPC ensures that no single person has full access to the private key. The private key is used in a distributed manner, enhancing security.

When a transaction signature is needed, the two parties — "our server" server and the user’s device run separate computations to execute blockchain actions. This process prevents any single entity from accessing the private key. There is no single point of vulnerability, making digital assets safer compared to traditional private key systems. Attackers can’t access all ‘secret shares’ simultaneously, enhancing security further.

Overall, this wallet component utilizes the 3FA security model and Multi-Party Computation (MPC) to enhance and ensure user wallet’s security and digital asset management.

Please define the positive impact your project will have on the wider Cardano community

No more need for seed phrases. Onboarding new users to any wallet won't be the same, as creating/restoring a Wallet will have the feel of a traditional Web2 log-in, but with the security of Web3.

What is your capability to deliver your project with high levels of trust and accountability? How do you intend to validate if your approach is feasible?

Our capability to deliver on this project with high levels of trust and accountability is anchored on our team’s extensive experience, technical expertise, and proven track record in blockchain technology and software development, through our development of endubis, as well as the teaching program we run here in Ethiopia.

What are the key milestones you need to achieve in order to complete your project successfully?

Milestone 1: Milestone 1: Technical study - (2 months)

• Network and resource analysis. Analyze the network and resource considerations relative to Cardano that will condition and affect the function of the protocol.

Output: A report summarizing the findings and conclusions derived from our research.

Milestone 2: Milestone 2: Implement end points

Implement proof calculation, pre-balancing and transaction finalization endpoint.

These endpoints construct zero-knowledge proofs, produces a balanced transaction from transaction constraints, and complete the transaction according to the zkFold transactions lifecycle.

Outputs and verification: the code is open-source and will be published on GitHub.

Milestone 3: Develop a comprehensive test suite and example library.

A smart contract language needs a very thorough test coverage and a library of examples to make the learning process fast and efficient.

Outputs and verification: the code is open-source and will be published on GitHub. The test suite will be integrated into Endubis wallet in the test net as demonstration.

Final Milestone: Produce the completion report and the video illustrating the solution.

Outputs and verification: the report and video will be publicly available.

Who is in the project team and what are their roles?

Project Lead: Nebiyu Sultan

Lead Developer: Rishabh Upadhyay

Please provide a cost breakdown of the proposed work and resources

Zero-Knowledge Proofs Protocol Development: 12 000 ADA

2x software developer @ **₳**3,000 per month for 2 months = ₳12,000

ZK-prover App Main Functionality Development: 28000 ADA

2x software developer @ ₳3,000 per month for 4 months = ₳24,000

1x senior software developer @ ₳5,000 per month for 1 months = ₳5,000

Distributed Proving Implementation and Testing: 12000 ADA

2x software developer @ ₳3,000 per month for 2 months = ₳12,000

Documentation, Project Management, and Protocols Design: 19,000 ADA

1 technical writer @ ₳1,000 per month for 3 months = ₳3,000

1 software developer @ ₳3,000 per month for 2 months = ₳6,000

1 project manager @ ₳1,666 per month for 6 months = ₳10,000

contingency: 3,000 ada

Total: 74,000 ADA

No dependencies.

How does the cost of the project represent value for money for the Cardano ecosystem?

This proposal covers a crucial step for the adoption of zero-knowledge smart contracts for keyless private key authentication. We believe that we can deliver this infrastructure piece for an exceptionally competitive price as we intent to use it for Endubis wallet