At the ETHWaterloo Programming Marathon, three developers spent two days developing a new project – connecting the Ethereum blockchain to the Google system so that users can recharge ETH to their email address, and then Send ETH to someone else's email address.
(Source: wikimedia )
How to trade through the mailbox?
The whole process is very simple. Users simply send ETH to their email address via Metamask, and the entire process is protected by the Google Authorization System. When the recharge is complete, click on the transfer and you will be able to authenticate and send ETH via Google's OAuth.
- Technical Guide | Understanding Zk-stark for Zero Knowledge Proof Algorithm
- I heard that as long as this technology matures, the centralized trading platform will disappear.
- What are the risks of encrypting asset exchanges?
- Analysis: What is the impact of bitcoin prices?
- Securities Daily: Digital assets will generate super enterprises
- College student blockchain cognition survey: 23% don't know anything, 8% are holding money
Subsequently, the web page will be linked to accounts.google.com, Google Sheets, and the whole process has nothing to do with the blockchain.
The user can send ETH to the new email address without using the blockchain, and will only use MetaMask to connect to the Ethereum network when the user wants to withdraw cash.
To Dali said that the three developers created an open database with 3 billion users, which is a bit like the second layer of the blockchain, transferring funds between different accounts, and the final "settlement" process in the blockchain. Finished on.
The team said they "hacked Google OAuth's function nonce filed(), allowing users to sign Sheetcoin transactions, which ensures that the transaction is indeed the sender's authorization."
Inspiration for developing sheetcoin
After DAO was hacked, most of the smart contracts added a super key, which controls the user's balance in the smart contract, and this feature became a target after Bancor was hacked.
We started to use this project as a joke because too many ERC-20 project parties have an account with administrative privileges. We believe that if you can't do absolute decentralization, why not make a fully centralized project?
Sunny Aggarwal, a member of the winning team and a computer science student at the University of California, Berkeley, said:
Google Sheets has a private key variable that can sign the withdrawal transaction. The purpose of this is to ensure the security of the user's funds, because it can verify the user's request for withdrawal.
The way to verify is to add a wallet plugin to the Google Forms interface, so that the form can be connected to the blockchain and the transaction can be verified and signed. The team added that they also need to add the RSA signature recovery feature so that it does not appear. The situation of stolen funds."
The above project won the Best Project Award for ETHWaterloo to become a Marathon Contest. However, it is clearly a fairly central semi-managed solution, but using sheetcoin for small transfers is really a way for people to understand cryptocurrencies.