About

Our hack is called FreezeRay, and it's a unique way to do bitcoin cold storage while still maintaining easy access to your bitcoin. Spending bitcoin out of cold storage is typically difficult, FreezeRay offers a solution. FreezeRay operates on two devices: an "offline" device, which serves as the user's bitcoin wallet, and an "online" device, which the user can use to create transactions. When the user opens the app on the online device, they are reminded that they'll need a second device which they want to use only for this purpose. They're instructed to download and install the app on the device, and once it is installed, take it offline "forever". (ONLINE: The user will have access to sending and receiving bitcoins, checking the bitcoin price (in dollars), and check transactions. When the user opens the app on the offline device, they're reminded to keep the device offline. They are told to choose a password. (This password will be used to encrypt their private key on the offline device.) When the user wants to send money, the user will scan the address of the receiver in the form of a QR code, and will generate an unsigned transaction, also in the form of a QR code. This code will then be scanned by the online device in order to sign and approve the transaction. FreezeRay lets users enjoy maximum bitcoin wallet security and easily make transactions on an online device.For future updates, we would use BIP32 and scan the Extended Public Key in order to generate a new address for every transaction. Also, in the event that a user cannot devote a second device, we can include a simple offline device along with our app. Finally we would develop a browser-extension version, website version, and merchant version of FreezeRay. https://github.com/intelliot/FreezeRay3/tree/working

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