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



Summary:

In an email conversation on 03/12/2014, William Yager discussed the ease of implementing PBKDF2-HMAC-SHA512 for a group of people, including himself, even on devices with limited RAM. Despite using an aggressive number of rounds (2^16 and 2^21), it can still run reasonably quickly on slow embedded ARM processors. For example, TREZOR, which uses a 120MHz ARM processor, completes 1024 rounds of PBKDF2-HMAC-SHA512 in approximately one second. Based on these numbers, 2^16 would take around one minute, while 2^21 would take roughly half an hour.


Updated on: 2023-06-08T14:51:00.543898+00:00