Non-Custodial Wallet Challenge: Create and Take Over

Objective:

Use the Fireblocks NCW Web Demo repository to build a non-custodial wallet and demonstrate a wallet creation process, including a scenario simulating a wallet takeover by recovering the wallet using recovery mechanisms.

Steps to Complete the Challenge:

1. Clone and Set Up the Repository:

   • Fork the Fireblocks NCW Web Demo repository.
   • Clone the repository locally and follow the instructions in the README to set up the development environment.

2. Create a similar project:

   • Import in a new react project the ncw_wallet_sdk using the example as a guide.
   • Login is not required

3. Implement Wallet Creation:

   • Add functionality to allow users to create a new non-custodial wallet.
   • Ensure that the wallet generates a key pair (e.g., using ECDSA or Ed25519) and stores the private key securely in the client environment (e.g., using browser storage or a secure enclave).
   • Provide a simple and intuitive UI for wallet creation, including a recovery phrase or backup mechanism.

4. Simulate Wallet Takeover:

   • Implement a recovery mechanism where a user can regain access to their wallet in case of loss of private key access. This could involve:
     • Entering a recovery phrase.
     • Using a multi-signature setup with a trusted third party.
   • Simulate a takeover scenario where a user intentionally "loses" access to their wallet and then regains control using the implemented recovery process.

Bonus Points:

• Document all the calling procedures in mermaid as a sequence diagram