Author: Aymeric Vitte 2018-12-27 11:04:18
Published on: 2018-12-27T11:04:18+00:00
In an email conversation between James MacWhyte and Aymeric Vitte, the former clarified that his tool looks up all possible combinations and finds if a particular phrase has been used before by looking for past transactions on the blockchain. This means that the tool won't verify if a phrase is correct unless it has actually been used before, making it less prone to misleading users. However, Vitte pointed out that the tool cannot guess what derivation path was used and if it's a standard one, what addresses were used. Additionally, the tool only works for Bitcoin, which led Vitte to suggest that it should output the ~1500 possible phrases and/or xprv and be completely offline.MacWhyte added that using an algorithm to generate a bip39 phrase that can be used with any bip39 wallet is reasonable. He also mentioned that this could help solve the "what if something happens to me" case by giving the family the seed and the parameter(s) for the derivation path or an easy way to find it. This would be better than complicated methods involving sha256 and other encryption algorithms to access a wallet or seed.
Updated on: 2023-06-13T16:33:54.601656+00:00