[RFC] Proposal: Base58 encoded HD Wallet root key with optional encryption



Summary:

In an email conversation, William Yager proposed the use of a bloom filter in Bitcoin Improvement Proposal (BIP) for typo checking and plausible deniability. The bloom filter is optimized for two elements and can catch 99.9975% of typos while allowing two different passwords. One password is real and the other is fake, which doesn't qualify as plausible deniability according to Pavol Rusnak. He believes that using a fancier algorithm instead of the proposed one might result in code generated on one client being unusable on another client, thereby violating the spec. Misunderstanding the outsourcing of Key Derivation Function (KDF), he questioned why outsourcing would be necessary if 3rd party usage of KDFs was not allowed.


Updated on: 2023-06-08T14:46:46.009732+00:00