Panic Button Feature
How It Works: A Dual-Pronged Approach
Immediate Lockdown:
Activation: With a single command, the panic button initiates a lockdown protocol.
Actions: It can freeze digital assets, halt pending transactions, and forcibly log out the user from all active sessions across the dApps network. Additionally, it possesses the capability to temporarily disconnect the SIM3 from the network, enhancing the security posture during the critical period following a suspected breach.
dApp Coordination:
Unified Response: Upon activation of the panic button, a signal is dispatched to all interconnected dApps, mobilizing a synchronized security response.
Coverage and Mitigation: This collective action ensures that the security measures are not just isolated but are spread across the entire ecosystem, significantly reducing the window of vulnerability and potential impact on the user's digital assets.
The diagram illustrates a panic button solution provided by an SIM3 with a Web3 wallet. When the user activates the panic button (SOS), two primary actions occur:
Network Suspension: The SIM immediately suspends access to the cellular network. This disconnection halts all internet activity from the SIM card, effectively preventing any ongoing or new transactions from proceeding.
dApp Notification: Simultaneously, the SOS event is communicated to the decentralized application (dApp) associated with the wallet. The dApp then takes action to blacklist the wallet address within its smart contract. This blacklisting prevents the compromised wallet from conducting transactions in the dApp, adding an additional layer of security.
This proactive approach is designed to swiftly neutralize threats by disabling wallet functionality and notifying relevant dApps to stop any unauthorized transactions, thus providing enhanced security for the user's digital assets.
Outcome
The panic button feature represents a critical defence mechanism within the SIM3 ecosystem, offering users an unprecedented level of control and security. It exemplifies the project's commitment to proactive user protection and responsive measures in the face of evolving digital threats.
Requirements
dApps only allows secure access to their dApps when users are only running on the SIM3 secure blockchain network.
Last updated
