Author: Brandon Black 2022-08-24 15:57:41
Published on: 2022-08-24T15:57:41+00:00
Craig Raw has proposed a BIP that standardizes the transfer of wallet labels between applications. While the transfer of funds across wallets has been made simple through standards such as BIP39, labels remain siloed and difficult to extract despite their value, particularly in a privacy context. The proposed format is a simple two-column CSV file, with the reference to a transaction, address, input or output in the first column, and the label in the second column. The CSV file may be compressed using the ZIP format and optionally encrypted using AES for added security.However, Brandon suggests that the format would be more useful if it also included descriptors so that a single file could be used to transfer a wallet. This would improve usability for advanced users who might have many such CSVs to manage, and would then be able to more easily select between them. Descriptor, Label pairs could also be useful in the format for the transfer of a wallet with several sub-accounts. Overall, standardizing the transfer of this valuable information could greatly benefit the Bitcoin community.
Updated on: 2023-06-15T23:55:24.472775+00:00