Free cold TON wallet (without hardware wallet)

[mcnckc]

Summary

The safest option of crypto storage is storing and using private keys on a completely (and always) offline device - it is called cold storage.
One way to achieve this is buying a hardware wallet - however, this costs money and has some other disadvantages
We propose another option to achieve this, a cold wallet consisting of 2 separate parts of software

Context

Our wallet consists of 2 parts of software:

• Offline client - cross-platform web-page - it is designed to work in a separate, completely offline OS. Creates and signs transactions with private key
• Online client - mobile application, sends transactions to the network. Allows to track multiple addresses, watching their balance and transaction history

Read detailed description of how such wallet works in our github

Read about why such wallet is considered very safe and reliable way to store crypto in our github

Read comparison with hardware wallets, which explains why we consider our wallet a better option in our github

Wallet is designed to be as user-friendly as possible in a cold storage setting

References

Similar functionality is available in the oldest and one of the most popular Ethereum wallets - https://www.myetherwallet.com.
Functionality of our wallet is even better, because it allows to transfer transaction data with QR code, instead of a USB stick in both directions
As for Bitcoin, similar functionality is available for example in one of the oldest wallets - electrum

Estimate suggested reward

$4000-$12000

[delovoyhomie]

Thank you for your proposal! Your idea for a cold wallet is certainly valuable, but at this stage, we already have existing solutions, including Signer, as well as established cold wallets with TON integration, such as Ledger and SafePal.

Given this, we won’t be moving forward with your application. However, we truly appreciate your initiative and encourage you to explore other areas where your expertise can bring unique value to the ecosystem. We look forward to seeing your great future ideas!

[mcnckc]

Thank you for your review! I would like to add that our proposal has different approach from every existing solution, and has some advantages over them.

Hardware Wallets (Ledger, SafePal)

detailed comparison can be found in our github, in short:

• User has to buy specialized hardware, costing money
• Malicious parties are very interested in forging this hardware, which can happen during delivery. Probability of getting malicious analogs vastly increases, when buying from intermediaries, which is inevitable in some countries
• There are some doubts about safety and anonymity when using hardware wallets

Signer

• Signer's offline part is only available for mobile devices, so a separate mobile device has to be bought with a single purpose of using with signer, which can cost even more than cheapest hardware wallets
• It is harder to physically isolate mobile device from every wireless connection, which reduces safety

Conclusion

Our main advantage is, user doesn't have to buy any additional hardware. Also you can read security discussion here

Our concept is proven for example by existence of analogous functionality in MyEtherWallet For Ethereum (Which of course is also supported by a variety of different cold wallets)

And as for TON blockchain, there also exists demand for using such type of cold wallet, proven by this guide, describing how to realize such protocol in TON blockchain, but with minimal functionality and convenience