Author: BitPLATES (Chris) 2021-05-09 08:29:05
Published on: 2021-05-09T08:29:05+00:00
The email conversation is about a potential informational BIP that describes an optional method of producing a BIP39 passphrase using only BIP39 'mnemonic' seed words. The proposed method introduces two-factor authentication to protect a Bitcoin wallet using only 24 seed words, providing plausible deniability about the existence of this separate 2nd layer passphrase. The suggested name for this passphrase is 'quantum' passphrase. The proposal describes how this passphrase can be used as a second signing key to add to the first signing key required to complete the full mnemonic, which then provides access to the passphrase-protected wallet. The 'quantum' passphrase offers an exponential increase in the level of protection as offered by the original BIP39 mnemonic seed words (≈2048^23 possible combinations). With existing computer capabilities, this level of protection is far greater than required; however, it does provide sufficient protection for each separate layer of a two-factor Bitcoin wallet, should any one layer be accidentally exposed. The proposed method of generating this passphrase consists of two parts: 1) generating the BIP39 mnemonic seed words using a BIP39-compatible hardware wallet, and 2) converting these seed words into the 'quantum' passphrase following four simple rules that do not destroy the integrity of the initial data.The proposed method encourages the use of multiple metal backup storage devices but anything more than A-Z (upper case only) would not be disguised as a 24 word seed. Therefore, discovery of a backup device with the extra, unrestricted characters that don't also open a (sacrificial) wallet will be recognised as a 2nd layer passphrase. This is when the $5 wrench is brought to the table to extract the 1st layer seed words. The proposal aims to offer an extremely safe and secure 'low-tech' option that requires minimal adjustments to the seed words, providing plausible deniability in case of coercion.
Updated on: 2023-06-14T21:48:46.884074+00:00