SMS Protocol

SMS-Based Crypto Transactions with Blockchain Integration

This project provides a solution for conducting secure cryptocurrency transactions using SMS, aimed at promoting financial inclusion in underserved communities. By leveraging Multi-Party Computation (MPC) for enhanced security, the platform allows users to perform crypto transactions without the need for smartphones or reliable internet access, making it accessible to a broader audience.

Features

• SMS-based cryptocurrency transactions: Users can send and receive crypto by simply texting a formatted SMS.
• Enhanced security with MPC: Private keys are split using Multi-Party Computation (MPC) to ensure no single party ever has full access to the private key, significantly reducing the risk of fraud or theft.
• Supports feature phones: No need for smartphones or internet connection to perform transactions, making it accessible to those in rural or low-tech areas.
• User-friendly: Transactions are initiated via simple SMS messages, making it easy for non-technical users to interact with cryptocurrency.

Technologies Used

• Twilio: SMS API for sending and receiving text messages.
• Blockchain (Ethereum & Avalanche): Decentralized systems for secure, transparent crypto transactions.
• Multi-Party Computation (MPC): Enhanced security for managing private keys.
• React: Frontend framework for user interface.
• Node.js & Express: Backend services for handling SMS requests and blockchain integration.
• Web3.js & ethers.js: JavaScript libraries for interacting with the Ethereum and Avalanche blockchains.

How It Works

1. SMS Setup: Users send a formatted SMS like SEND 0.5 ETH TO 0x123abc... to initiate a transaction.
2. Backend Processing: The backend processes the incoming SMS, validates the transaction, and extracts necessary details like the amount and recipient address.
3. Blockchain Integration: The transaction is verified and submitted to the blockchain (Ethereum, Avalanche) using Web3.js or ethers.js.
4. Security with MPC: Private keys are split using Multi-Party Computation (MPC) to ensure that no single entity can access the full key, improving security for users.