Author: GOLEM XIV 2018-12-13 14:35:22
Published on: 2018-12-13T14:35:22+00:00
It is desirable for a user to have only one seed necessary to recover a wallet, regardless of the software or hardware used. However, confusion exists as many users believe this is currently the case with BIP39, despite it being marked "Unanimously discourage for implementation" in the Bitcoin wiki. This situation poses a threat to users' funds. The METABIP does not propose or advocate for a specific format but stresses the importance and urgency of a clear definition. Its purpose is to provide synthetic and transparent characteristics of each existing format. Advantages/disadvantages categorization was avoided. BIP39 is widely implemented/supported but has a weak KDF, no version number, no birth date, requires a fixed word list, and is extendable with passphrases. Electrum seeds are only supported by Electrum and include a version number, do not require a fixed word list, and are also extendable with passphrases. AEZeeds are only supported by LND, include a version number and birth date, require a fixed word list, and encrypt seed with the passphrase that can be modified. Cypherseed includes all aspects of AEZeeds but uses 5char blocks instead of words and MAC tags for plausible deniability. AEZ is an authenticated-encryption (AE) scheme optimized for ease of correct use ("AE made EZ"). AEZ's name might seem ironic, suggesting anti-easy, especially for hardware design. Overall, METABIP aims for consensus on a sensible theme.
Updated on: 2023-05-20T19:36:23.975141+00:00