Chestnut Smart Accounts

We offer a multi-signature, smart contract enabled "Smart Account" which helps you create a set of rules and safeguards so that your EOS account secures and automates your finances.

One big obstacle to widespread adoption of crypto assets is the fear users have in taking responsibility for managing and protecting their own money. Chestnut takes some of the best security practices from the traditional banking system and bridges them over to the blockchain space, With this, users can feel the same level of safety they have become accustomed to with the autonomy and transparency that the blockchain offers.

Chestnut utilizes a smart contract within a multi-sig account to enable users to set specific and customizable rules or restrictions on the activity, size or type of transactions that can be executed on the account. Similar to security and fraud protection offerings by traditional credit card companies, Chestnut users can set spending limits, whitelist/ blacklist recipients, freeze the account or nominate beneficiaries in case of emergencies. With Chestnut, users have the benefit of setting their own account rules rather than rules being imposed by a third party institution.

Each account transaction will be cross referenced through our smart contract and if it does not fit the set parameters, Chestnut will not sign off on the transaction as a multi-sig.

At no point does Chestnut require private information and we cannot make changes to a customer’s account unless the change was initiated by the customer.

Chestnut provides the peace of mind that so many blockchain curious members of the general public desire before taking the leap into the world of crypto assets.

How It Works

Welcome to Chestnut Smart Accounts on EOS! Chestnut allows you to convert a normal eosio accounts' active permission into a multi-signature permission requiring signatures from both your private key and our smart contract.

Chestnut creates a new account permission called chestnut for your account. Then this permission is added along with the chestnutmsig smart contract to your accounts active permission creating a multi-sig configuration. Whenever you wish to perform an action with the active permission, i.e. token transfers, the chestnutmsig smart contract must allow it. If you wish to interact with a new dApp, a multi-sig request must first be approved before giving the smart account access to the dApp.

Features:

• accounts' @active permission cannot be changed by malicious dApps
• token transfers are protected by the chestnutmsig Smart Contact
• you can use any other Chestnut approved dApp by linking your @chestnut permission with other dApps
• account recovery available with trusted beneficiaries

Account with NO trusted friends

cleos get account smartaccount
created: 2019-03-21T00:52:35.500
permissions: 
     owner     2:    1 chestnutmsig@security, 1 smartaccount@chestnut
        active     2:    1 chestnutmsig@security, 1 smartaccount@chestnut
        chestnut     1:    1 EOS6kYgMTCh1iqpq9XGNQbEi8Q6k5GujefN9DSs55dcjVyFAq7B6b

Account with trusted friends recovery

cleos get account smartaccount
created: 2019-03-21T00:52:35.500
permissions: 
     owner     4:    1 chestnutmsig@security, 1 george@active, 1 kristina@active, 3 smartaccount@chestnut #, 2 wait time three days
        active     2:    1 chestnutmsig@security, 1 smartaccount@chestnut
        chestnut     1:    1 EOS6kYgMTCh1iqpq9XGNQbEi8Q6k5GujefN9DSs55dcjVyFAq7B6b

To Run Demo

Built with: eosio v1.7 eosio.cdt v1.5

To run for the first time

./first_time_setup.sh

after just run

./start_blockchain.sh

To shut down press Ctrl+C and run

./reset_everything.sh

See blockchain/contracts/chestnutmsig/README.md for contract details.