IEEE Std 2140.5-2020 pdf free
IEEE Std 2140.5-2020 pdf free.IEEE Standard for a Custodian Framework of Cryptocurrency.
2. Definitions, acronyms, and abbreviations
2.1 Definitions
For the purposes of this document, the following terms and definitions apply. The IEEE Stanikircis Dkrionarv
Online should be consulted for terms not defined in this clause.
blockchain: A peer to peer distributed ledger based on a group of technologies for transactional applications which may maintain a continuously growing list of cryptographically secured data records hardened against tampering and revision.
NOTE I — Bkwkchains can help establish trust, accountability and transparency while streamlining business processes.
NOTE 2—Blockchains can be classified as three types (i.e., public, consortium, and private) based on the relationship of the participants and the way to provide services.1
hlockchain wallet: The digital representation of a wallet that allows users to iiianage cryptocurrency and token assets.
cry plocurrency: Any form of currency that only exists digitally, that usually has no central issuing or regulating authority but instead uses a decentralized system to record transactions and manage the issuance of new units, and that relies on cryptography to prevent counterfeiting and fraudulent transactions.
digital asset: A digital asset is any text or media that is formatted into a binary source and includes the right to use it; digital files that do not include this right are not considered digital assets.fungible token: In economics, fungibility is the property of a good or a commodity whose individual units are essentially interchangeable, and each of its parts is indistinguishable from another part. In cryptocurrency. cryptocurrencies are usually considered to be fungible assets, where one coin is equivalent to another.
3. Custodian service of cryptocurrency
3.1 Overview of custodian service of cryptocurrency
Asset Custodian Services mainly refers to services provided by third-party banks or securities firms in the financial and investment fields. For example, traditional equity investments or securities investment funds need to appoint a bank as a third-party custodian when completing fundraising to ensure that investors raise funds. The funds raised by investors are segregated from the funds owned by the fund management firm, and are held in custody by a fir third party, so as to avoid any theft or confusion.
With the increasing popularity of cryptocurrencics, the hosting of digital assets, especially token assets. has become a functional module for digital asset management. With the development of cryptocurrency compliance, asset custodian services also need to meet the needs of asset escrow.
Blockchain systems support asymmetric encryption and have a couple of keys (a public key and a private key). Blockchain customers, especially the token holders, publish the public key and could verify and sign the passing messages with the private key. For token holders, the passing messages are token transferring and exchange.
When focusing on the custody of token assets, we are talking about the management ofprivatc keys.” Key distribution and management in traditional cryptography have been a topic of long-term discussion and continues to evolve. In blockchain systems, key distribution and management determine the ownership of assets. Therefore, the core of token asset custody is a set of services based on the management and control of “ownership” of key-based assets.IEEE Std 2140.5 pdf download.
