Author: Craig Raw 2022-08-25 08:59:08
Published on: 2022-08-25T08:59:08+00:00
Craig Raw has proposed a BIP that specifies a format for the export and import of labels from a wallet. 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. CSV was chosen for its wide accessibility, especially to users without specific technical expertise. The full text of the BIP can be found at https://github.com/craigraw/bips/blob/master/bip-wallet-labels.mediawiki. Clark Moody asked Craig how his proposal compares with SLIP-0015, which provides encryption by default, suggesting that it might be worth exploring a merge of the two approaches. Craig responded that he had not come across SLIP-0015 before but having reviewed it, believes it has different design goals. For example, it requires private key derivation from seed, which means wallets functioning as coordinators cannot use the format without access to the devices storing the private keys. Secondly, it uses JSON as a data format, which he wanted to avoid for reasons stated in a separate reply in this thread. Finally, SLIP-0015 does not currently support transaction labels.In the motivation section, Craig explained that there is no defined standard to transfer any labels the user may have applied to transactions, addresses, inputs or outputs in their wallet. Allowing users to export their labels in a standardized way ensures that they do not experience lock-in to a particular wallet application. Labels provide valuable guidance in spending to avoid undesirable leaks of private information, and have even become mandatory when spending in several Bitcoin wallets.The specification section outlines the details of the CSV format for export and import of labels. In order to make the import and export of labels as widely accessible as possible, this BIP uses the comma separated values (CSV) format, which is widely supported by consumer, business, and scientific applications. The CSV file may be compressed using the ZIP file format, using the .zip file extension. This zip file may optionally be encrypted using either AES-128 or AES-256 encryption, which is supported by numerous applications including Winzip and 7-zip. Importing applications may truncate labels if necessary.Overall, Craig's proposal aims to provide a standardized way for users to export and import labels associated with transactions, addresses, inputs, and outputs in their wallet, to ensure that they do not experience lock-in to a particular wallet application.
Updated on: 2023-06-16T00:04:56.418459+00:00