Proposal: Bitcoin Secure Multisig Setup



Summary:

In a recent email exchange, Dmitry Petukhov suggested that instead of using variable Pwd, it might be better for the user experience to choose the number of rounds to use in PBKDF2. This would be easier to enter on the device or could be chosen from a set of pre-defined values. The coordinator could choose a higher number of rounds if more money is at stake, taking into account the participant devices' characteristics. Alternatively, the coordinator could allow bigger entropy, more than six mnemonic words, if they feel that 64 bits of entropy are not enough.


Updated on: 2023-06-14T17:31:52.502251+00:00