3.1 Wallet system

To facilitate easy use of wallets by ordinary users, the DeFi Mall wallet adopts the SPV (Simplified Payment Verification) method, accessed via a web interface. The wallet uses the SSL protocol and supports Symantec CA certificates. Additionally, the wallet can support both cold and hot wallets:

• Cold Wallet: Suitable for large sums of money, the wallet's public and private key pairs are generated offline. Users can generate any key pair of their choice. Once the key is selected, a public key starting with 'G' is provided to receive large funds, and users are responsible for securely managing the private key, starting with 'S'.

• Hot Wallet: The hot wallet is suited for small, rapid transaction scenarios. The keys for a hot wallet are managed in a custodial manner. When users register a wallet account, the generated private key is encrypted locally on the user’s computer using 3DES and then stored in the wallet’s cloud via SSL protocol.

In the case of hot wallets, the key information transmitted over the network and stored in the cloud is the user's encrypted data. No one, other than the wallet user, can access the original content of the private key. When users need to sign a transaction, they retrieve the custodial private key from the wallet's cloud server. The user then decrypts it locally on their computer using the payment password. Once decrypted, the local wallet program signs the transaction information with the private key and submits it to the DeFi Mall network for processing.

DeFi Mall wallets contain two types of assets: native assets and registered assets, similar to the RMB and various cards in a real-life wallet. Native assets can be used without any trust, whereas gateway-registered assets require trust in the respective asset for value exchange.