Author: millibitcoin 2016-07-26 18:31:36
Published on: 2016-07-26T18:31:36+00:00
The author has submitted a draft BIP proposal for derived mnemonics from a master mnemonic that can be used to generate deterministic wallets using BIP-0032 or similar methods. The proposal aims to make it easier to split funds into smaller fractions and use them in an HD-wallet without putting the master mnemonic at risk on an online computer. The master mnemonic is generated offline, and multiple derived mnemonics are generated offline deterministically for online use. The proposed method uses sha512 hashing to generate byte arrays to create new mnemonics. The reference implementation generates addresses based on BIP44 for a 24 word master mnemonic and is available on the website provided. Examples of use cases include splitting funds into fractions and sending them to multiple addresses, giving derived mnemonics to family members with bitcoin and memorizing only a 12-word seed.
Updated on: 2023-06-11T19:12:56.893945+00:00