Author: Jochen Hoenicke 2016-07-27 10:39:36
Published on: 2016-07-27T10:39:36+00:00
In a bitcoin-dev forum post, Jonas Schnelli raised concerns over the use of PBKDF2 with 2048 iterations in Bip39, saying it is "not enough" to protect large amounts of funds. He questioned the alternatives, including putting an expensive processor and memory in every hardware wallet, waiting ten minutes after entering a passphrase with a million iterations, or computing the secret key on an online computer. He also considered how many iterations would be secure, suggesting that adding two random lowercase letters to the end of a passphrase with 2048 iterations could provide better protection than using a million iterations. Ultimately, Schnelli advised users to choose a good passphrase or ensure their seed is not stolen.
Updated on: 2023-06-11T19:13:03.342390+00:00