Post
Topic
Board Altcoin Discussion
Re: Is a new cryptocurrency with SMS verification before transfer valuable?
by
longminh123
on 08/06/2018, 09:54:49 UTC
hi all


I was stolen all my ETH in my wallet after submitting Keystore file to a phishing website carelessly. So I has an idea of a SAFER cryptocurrency.

It has following features:
1) Only trusted receiver address is permitted.
2) Phone SMS verification needed when adding trusted receiver address
Thus even private key is leaked , scammer cannot transfer coin to his address.

Sample contract code maybe:
Code:
function transfer(address _to, uint _value) returns (bool) {
        if(_to not in TRUSTED_ADDRSSES) {   #Check _to is in trusted addresses or not
             return false
        }
        if (balances[msg.sender] >= _value && balances[_to] + _value >= balances[_to]) {
            balances[msg.sender] -= _value;
            balances[_to] += _value;
            Transfer(msg.sender, _to, _value);
            return true;
        } else { return false; }
    }

Look forward to your opinions or advise.  Thank you
That could add another layer of security, but hackers will not break into the normal way. They will attack your account in another way and do not need to go through the confirmation steps. So I think you should not install that extra step, it will only cost you time.