Armonia RealMe Account

The Status Quo of Blockchain Account

Since the nascence of Web3, there has not been a truly phenomenal product. Aside from the industry in its burgeoning stage, another factor is the cost of learning how to use wallet.

As a medium for users to trust assets, wallet also serves as identity certificate on blockchain. Current wallet management based on mnemonics and private key is difficult for Web2 users to grasp. With poor user experience and the risk of asset loss caused by negligence, it seriously hinders user growth.

In the Ethereum network, several types of wallets coexist: private key/mnemonics wallet, external account (EOA), contract account (CA) and MPC multi-party computation account. These methods are not able to meet users' requirements for security and convenience.

Combining user habits and blockchain features of Web2 and Web3, Armonia has designed a Web2-friendly, recoverable and secure decentralized wallet - Armonia RealMe Account (ARM for short).

What is RealMe Account?

RealMe account is the world's first Web3 wallet-creating technology launched on the Armonia Meta Chain (AMAX). It's not only fast, convenient, fully-decentralized, but also secure and recoverable.

The private key of RealMe Account wallet is stored in app local and will never be transmitted online. RealMe Account wallet will provide a smart contract co-governed by DAO with owner permission for account recovery.

When the private key of your RealMe Account wallet cannot be found, you can verify your phone number or answer security questions to recover it and restore its normal use. To make sure you use the wallet with ease and security, you still need to keep the private key safe.

Do not disclose your private key to others! All the assets in the wallet could be transferred with private key!

Why Armonia RealMe Account?

ARM Account Features

• Web2-friendly

Support most centralized wallet creation methods, such as mobile phone number+verification code, Facebook authorized login, Google login, etc.

• Recoverable

Support on-chain and off-chain verifications, such as security question, social information binding, DID, Google authenticator, etc. to recover wallet

• Secure

Ensure asset security through wallet access/permission control, voting governance, user layering, asset lock, etc.

• Decentralized

The verification nodes selected by voting and the customized third-party verification nodes are used for verification

Achievement

Account Activation

Take mobile phone number and security question as an example, users can activate their accounts with phone number, and further improve the security of their accounts with security questions. Similar processes can be Applied for third-party login, such as logging in with Google account and using Google authenticator for security.

Add Oracle Authenticator to Improve Security

After account activation, more Authenticator Oracles can be added to improve security:

• For example, binding a third-party platform, or using a verification oracle selected by voting as the verifier.

• Require: This verification must be passed when resetting the public key. The more such verifications, the more secure the account will be.

• Option: As an optional verification, it can be used to increase the number of Approval votes. Account is more likely to be restored with more Option, but its security could be compromised.

Account Recovery

• When private key is lost, Authenticator can provide a servce of submitting reset order to the contract.

• User can complete the corresponding verification in Oracle Authenticators, and the Authenticator will submit the results to the contract.

• When user completes most of the verifications of Authenticators (>=70%) and has enough weight, the public key can be reset to restore the normal use of the account.

Decentralization

User's wallet is an important medium for asset management. It should provide sufficient convenience and decentralized design simultaneously to ensure account security. To make the entire account system more decentralized, we have made the following designs:

No Private Key on Cloud

Realme Account does not need to store the private key on any service, which eliminates the possibility of private key disclosure due to non personal reasons.

Account Type Switching

Support users to convert private key wallet/mnemonic wallet to ARM wallet (optional).

Decentralized Contract

realme.dao and realme.owner will adopt the upgrade and permission of multi-signature management contracts. After the system is improved to a certain extent, all permissions will be set as null to avoid contract-level risks.

Oracle Authenticators Voting Governance

Support open Authenticator to join. It will be decided by voting of all Authenticator Oracles whether to enable it;

Users can select their own trusted custom Authenticators for authorization and verification;

Invalid or risky Authenticators can be managed in ways like restricting new binding, reducing weight, etc.

Risk Control System

• Exception monitoring for Authenticator. For example, when the orders sent by Reset exceeds a certain number and frequency, the Authenticator permission can be suspended to lock the account.

• Account lock. For example, one week after the account resets the private key will be set as a standstill period to restrict account transfer and other functions, and the restriction can be lifted one week later.

Open Platform

The above cases simply show how a centralized E-Mall can quickly integrate ARM accounts and enable users to securely use their crypto assets for payment. To reduce the learning cost of developers and speed up access, we have created a number of ARM-centered auxiliary tools:

arm-core-sdk is a sdk applicable in front and rear ends, with the following functions:

• Obtain node list and network information

• Generate key pair and account

• Call chain query functions, including account information query, Authenticators query, token asset query and customized contract data query

• Call chain transaction functions, including account activation, Authenticator binding, Authenticator verification, token transfer transaction and customized transaction submission

• Sign, encrypt and decrypt using private key

arm-wallet-ui enables App to quickly aggregate simple wallet functions:

• Account display

• Token information display

• Authenticators information display

• Node display and switch

• transfer and receipt of tokens

• DApp Webview: web components that can embed and use DApps

AmaxScan-Notify-Server provides chain-scanning data notification service, oriented to the server:

• Monitor account's transfer transactions

• Monitor account activation

• Monitor account recovery request

• Other on-chain information notification...

DApps Support:

• xChain: cross-chain bridge DApp, supporting bridge of mainstream tokens on mainstream chains

• MetaBalance: CTC-accepted DApp, supporting CTC transactions between mainstream fiats and tokens

• Linking: users can win APL to participate in AMAX mining, which encourages more users to get a share

• Instant Swap: support Swaps between tokens

Ops Utils:

• Ledger Contract

• Staking Contract

• Token Contract

Conclusion

As the world's first account that combines web2 and web3 features, RealMe account takes both convenience and decentralization into consideration. The secure and recoverable account lowers the threshold of participation while enhancing the security of wallet. It will be the guard of your assets, the key to the blockchain world.