CoinBlesk: Web Front-End and Payment Terminal Integration
Master Thesis: Intermediate Presentation
by Sebastian Schrepfer
live slides
Overview
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Introduction
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Bitcoin & CoinBlesk
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VISA integration
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Usage of Bitcoins in Terminals (Point-of-Sale)
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Web Interface
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Framework Evaluation & Architecture
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Basic Functionality & Server Administration
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Demonstration
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Further Work
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Web Interface
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Crypto-Payment Protocol
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Discussion
goo.gl/AcQvCT
Introduction
1
Bitcoin & Coinblesk
1
VISA Integration
2
Current Situation
Customer
2
Merchant
The Concept
Customer
Merchant
Bitcoin Exchange
Bank account
Virtual Credit Card issuer
Virtual Credit
Card number
2
The Concept ...and why it does not work
Customer
Virtual Credit
Card number
Merchant
Conversion between Virtual Credit Card Number & NFC Data not possible. Credit card issuer uses encryption, which only licensed issuers do receive.
2
Concept
Customer
Merchant
2
Concept
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Implementation of a Bitcoin protocol behind Terminals
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Drawbacks:
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Relying on proprietary terminals
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Very high hurdles to get the protocol included into vendor products (if a vendor does not like the idea, it would not be included)
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The future of terminals is questionable (replaced by smartphones)
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2
→ Why not using a protocol for smartphones?
Concept
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Using the smartphone as terminal
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Benefits:
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CoinBlesk: Existing infrastructure/app can be used
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Merchant:
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No maintenance costs for terminal (e.g. replacement every 2y)
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Using existing devices (everybody has a smartphone)
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Drawbacks:
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Merchant relies on smartphone application (connection between app ⇄ checkout)
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2
Web Front-End
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Framework Evaluation
3
| Solution A | Solution B | Solution C | |
|---|---|---|---|
| JavaScript Framework | jQuery | Angular 2.0 | Vue.js |
| Build process | – | System.js | Webpack |
| Languages | JavaScript (ES5), CSS | TypeScript, Sass | JavaScript (ES6), Sass |
| Complexity | low | high | medium |
| Pro | - no overhead - shallow learning curve |
- integrated solution - component-based - CSS components - for complex applications - two-way bindings between components - industry standard: many libraries provided |
- add-on based solution (sleek core) - component-based - CSS components - for simple and complex applications - two-way bindings - virtual DOM - computed variables instead of watchers - simple architecture - build architecture provided |
| Contra | - DOM-based - low-level - inefficient for complex applications |
- opinionated architecture - steep learning curve |
- newer library, not that many add-ons |
Framework Evaluation
3
vue-i18n
Vuex
Basic functionality
3
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Token-based authentication (Local Storage)
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User State handling with Vuex
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Routing with Vue.js → Automatic error handling on wrong link or missing permissions/authentication
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Login, Registration, Password forgotten, Activation
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HTTP interceptors for unexpected error handling
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Global Message Handling (Toasts)
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i18n, English/German with global & local translations
Architecture: User Roles
3
SERVER
CLIENT
No-Login
User
Admin
boot
Business logic (1/2)
3
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Unauthenticated
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Forex rate integration (cached request) with charts
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Administraton
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User Account management (deletion, user-role switch)
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Account management (request current state of an account, independent of the user account)
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Retrieve channel transaction
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All time locked addresses
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Current balances (virtual & actual)
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Business logic (2/2)
3
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Administraton
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Event handling
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Gather log events and send administration e-mail if threshold of critical events is exceeded
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Server Balance
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Determines, if the server is in a critical state, where the micro payments are not in balance
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∑ all virtual payments ≠ ∑ all transactions → ☠ bad state
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Creates a critical event which leads to an automatic e-mail notification (admin)
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Demonstration
3
Further Work
4
Web Front-End User Area
- Linking of user account & account → a newly created user account has automatically an account (bitcoin address)
- A user should be able to see their balance (from their account)
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Sending Bitcoins from user account to another user account (concept of Paymit → improve convenience by preventing the user to copy-paste a bitcoin address)
- requires the server to provide input transactions of the user's account for him to sign
- requires storing the private key of the client encrypted on the server (client-side decryption)
- Implement progressive web app functionality and improve responsive designs to let iOS participate in CoinBlesk (over web application)
4
Crypto-Payment Protocol
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Extending the CoinBlesk Bitcoin protocol for alternative crypto currencies
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Extension makes the protocol more flexible
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Bitcoins market dominance is shrinking:
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4
Discussion
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Master Thesis: Intermediate
By S.S.
Master Thesis: Intermediate
Intermediate presentation Master Thesis
