A proposal has been issued to the $PAC network. Proposals allow the $PAC community to vote on community projects in order to sponsor projects they believe will benefit the $PAC community, we hope you'll agree PacVault is worthy of your vote. The proposal asks for 5 million $PAC in order to cover development, maintainence, and expansion of the PacVault. Further, the budget will also be allocated to cover the expense of prototype hardware, hardware design and taxes.
The initial version of PacVault will be available for free. There is a plan in place to offer pre-built versions available for sale at cost and only in exchange for $PAC. Further, the ultimate goal is to make a custom-built hardware wallet using secure chips and the latest technologies available once the design and software has been vetted. Again, the plan is to sell the custom designed PacVault at cost and only for $PAC in order to increase utility of the $PAC currency.
If you're a masternode holder, voting is easy. Open the debug console and paste the following:
gobject vote-many beca8dafb525283e38c7dc6e58da0b2dfd53c5310a6af2e333794123b338ae8a funding yes
What if you're not a masternode holder? Then if you'd like to support the project, please encourage a masternode to vote on your behalf.
The funds for the PacVault, if funded, will come from the 20% community project budget built into $PAC. No individual is paying for PacVault; instead, the $PAC network will fund it itself as a community project if we can reach the 10% funding mark.
PacVault is an air-gapped wallet designed from the ground up for $PAC. The wallet relies upon commodity hardware that anyone can purchase and a custom built wallet. PacVault currently supports BIP32, BIP39, and BIP44 in order to generate deterministic wallet addresses which allow you to securely restore you wallet in case of a hardware failure.
Based upon open, off-the-shelf hardware, the PacVault is truely a community driven hardware wallet. The wallet has been specifically designed to allow anyone to build their own hardware wallet in order to store their $PAC in a safe, secure, and affordable manner. Further, the software will be 100% open-source allowing anyone to customize the wallet for hardware other than the reference specifications.
Because the wallet uses open hardware, as compared to more expensive custom designed hardware, PacVault relies upon an air-gapped architecture to ensure as much security as possible. Air gapped wallets are completely disconnected from any networks meaning it is not possible to compromise your PacVault remotely. Even in the event of a physical security breach, the PacVault stores all sensetive information in an encrypted format.
The PacVault implements BIP32, BIP39, and BIP44 in order to allow for the generation of secure, deterministic wallets. PacVault provides users with a mnemonic that can be used to easily restore your PacVault in case of a hardware failure or if you need access to your wallet from another location. Notably, the design supports more than just $PAC in your wallet, so you can store you other currencies easily in one place. And for masternode holders, PacVault will allow users to easily control $PAC Masternodes from their wallet in a secure, cold-storage manner.
Your PacVault consists of two parts: the air-gapped PacVault and a "hot" watching wallet.
Through the use of a usb stick, users transport the transaction information from the watching wallet to the PacVault.
Transactions are signed on the PacVault in a secure manner.
The user transports the transactions back to the hot watching wallet for transmission to the network.
Nothing! Well, not nothing but the software is 100% free. As for the hardware, you'll need to order the hardware yourself which comes out to about $150.00 assuming you need to order everything yourself and you are unable to get any discounts. When the project finally launches and the hardware is finalized, a group buy option will be made available in hopes of making the costs as low as possible for everyone.