KeyPairs Guide

This guide explains how to integrate and utilise your various KeyPairs.

What is a KeyPair?

A keyPair in cryptocurrency consists of two related cryptographic keys: a public address and a private key. These keys are used to secure transactions and prove ownership of digital assets on a blockchain.

• Public Address: A shareable address derived from the private key, used to receive funds or verify signatures. Think of it like a bank account number.

• Private Key: A secret code that must be kept confidential. It allows the owner to sign transactions, access funds, or control assets associated with the corresponding public address. Think of it like a PIN or password.

The KeyPair is generated using cryptographic algorithms (e.g., ECDSA for Bitcoin or Ethereum). The public address is mathematically derived from the private key, but the private key cannot be reverse-engineered from the public address, ensuring security.

Akashic KeyPairs

In AkashicPay, three distinct types of KeyPairs are utilised, each with unique permissions and specific tasks to ensure secure and efficient asset management. These KeyPairs are designed to enhance access control, streamline transactions, and maintain robust security within the platform.

Unlike other blockchain systems where public addresses are cryptographically derived from a private key, Akashic KeyPairs are uniquely bound to a public address during creation, offering greater flexibility. This design enables Business Partners (BP) to associate multiple KeyPairs with distinct permissions to a single public address, providing enhanced control and tailored access management for secure transaction processing.

Below is an overview of the KeyPair types, their permissions, and the tasks they perform.

1. Owner KeyPair: grants full administrative access to the wallet and its associated assets. It is the most privileged KeyPair, allowing complete control over the account, including the ability to initiate, sign, and authorise all transactions, manage secondary KeyPairs (API/SDK KeyPair, Treasury KeyPair).

2. API/SDK KeyPair: API/SDK KeyPair has restricted permissions compared to the Owner KeyPair. It has most of the permissions that the Owner KeyPair have, including the ability to initiate, sign, and authorise all transactions. It does NOT however, have the ability to manage secondary KeyPairs.

3. Treasury KeyPair: The Treasury KeyPair is exclusively used to approve transactions initiated by the API/SDK KeyPair as part of the multisig (multi-signature) feature. It serves no other purpose and lacks the ability to initiate transactions or manage secondary KeyPairs.

Owner KeyPair

Your Owner KeyPair is the KeyPair you first created using AkashicLink. This is also the account you onboard to AkashicPay with.

Functionality

• Modifying account configurations.

• Delegating permissions to secondary KeyPairs. Creating secondary KeyPairs within AkashicPay.

• Executing large-value transactions.

• Ideal for account owners or merchants who need comprehensive control over their AkashicPay account, including setup and KeyPair delegation management.

NB! It is the primary account owner's responsibility to ensure safekeeping of its keys and secure oversight of the wallet's operations.

API/SDK KeyPair

The API/SDK KeyPair, while possessing many of the same permissions as the Owner KeyPair, such as initiating, signing, and authorising all transactions, has restricted capabilities and cannot manage secondary KeyPairs.

Owner KeyPair may choose to limit the payout capability of API/SDK KeyPair by requiring a second signature (Multisig feature) from Treasury KeyPair.

Functionality

• Integrating AkashicPay's SDK or SecureAPI.

• Managing the one-to-one address mapping for end-clients using this KeyPair.

• Executing large-value transactions.

Note: If the Multisig feature is enabled, then the execution of withdrawals must require approval from the Treasury KeyPair.

Setting up your API/SDK KeyPair

Below is a quick video guide on how to generate and integrate your SDK/API KeyPair.

Treasury KeyPair

In AkashicPay, the Treasury KeyPair serves as the third keypair type, designed exclusively to approve transactions initiated by the API/SDK KeyPair within the platform’s multi-signature (multisig) framework. This KeyPair can only be generated by the Owner KeyPair and requires the multisig feature to be enabled for its creation.

Functionality

• Approve and deny withdrawals initiated by the API/SDK KeyPair in a multisig setup.

• Provides the required signature to finalise multisig withdrawals initiated by the API/SDK KeyPair.

Note: The Treasury KeyPair does not have permission to initiate any withdrawals within AkashicLink and AkashicPay.

Setting up your Treasury KeyPair

Below is a quick video guide on how to generate and integrate your Treasury KeyPair.