The Repository @ St. Cloud State

Open Access Knowledge and Scholarship

Date of Award


Culminating Project Type

Starred Paper

Degree Name

Information Assurance: M.S.


Information Assurance and Information Systems


Herberger School of Business

First Advisor

Dr. Abdullah Abu Hussein

Second Advisor

Dr. Lynn Collen

Third Advisor

Dr. Changsoo Sohn

Creative Commons License

Creative Commons License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.

Keywords and Subject Headings

•Cryptocurrencies: are a type of currencies that are relying on cryptographic proofs for confirmation of transaction (Lansky, 2018). • A Cryptocurrency wallet: is a piece of software that keeps track of the secret keys used to digitally sign cryptocurrency transactions for distributed ledgers (Mearian, 2019). • Bitcoin: a piece of digital currency, otherwise known as BTC. As a general concept, Bitcoin is a system for securely buying, storing, and using money digitally. • Blockchain: a digital ledger of economic transactions that is fully public, continually updated by countless users, and considered by many impossible to corrupt. It is a list of continuous records in blocks (Zhang et al., 2019). • Cryptocurrency mining: the process in which transactions between users are verified and added into the blockchain public ledger (IT, 2020). • Hash rate or Hash Power: the measuring unit that measures how much power the bitcoin network is consuming to be continuously functional (Coinsutra, 2019). • Proof-of-Work: the validation of the work that happened and proving it is correct. It currently account for more than 90% of the total market capitalization of existing digital currencies (Gervais et al., 2016) • Proof-of-Stake: it confers decision power to minters that have a stake in the system. Unlike the Proof-of-Work in which everyone can become a miner, not everyone can join the network in the POS system (Seang & Torre, 2018).


The number of users who are interested in trading Cryptocurrency is tremendously increasing, however, some users of cryptocurrency wallets do not know how to protect themselves or how to use a wallet with high protection. The objective of this paper is to propose a framework to enable users to evaluate the security and privacy of cryptocurrencies wallets. This framework will provide users with a list of attributes that define the degree of user protection in cryptocurrency wallets. This work aims to improve security and privacy in cryptocurrency wallets and enable users of these platforms to interact safely.