Author: Gregory Maxwell 2014-06-09 18:23:17
Published on: 2014-06-09T18:23:17+00:00
Richard Moore, a developer, is implementing BIP38 wallets and has suggested discussing the inclusion of an extra byte in the address that would encode the parameters used. Currently, the scrypt pbkdf for (N, r, p) is (16384, 8, 8). However, with the latest scrypt mining ASICs hitting the market, it may become more profitable to hack wallets to steal funds. Moore suggests that including an extra byte in the address would provide a way to vastly secure more important master keys. For example, a key that is cold storage of millions of dollars that won’t be touched for multiple years. Moore's proposal can be found on bitcointalk.org, and it is generally considered more well thought out than BIP38. The proposal is still being revised to support secret sharing.
Updated on: 2023-05-19T19:00:52.238171+00:00