Published on: 2021-05-11T17:45:13+00:00
The email conversation revolves around Chris's proposal for a 'quantum' passphrase as an optional method of producing a BIP39 passphrase. The proposal aims to provide two-factor authentication and a high level of protection for a Bitcoin wallet using only 24 seed words. It offers several advantages over existing methods, including plausible deniability, discouragement of user-created passphrases, and standardization through the use of BIP39-only words. The method involves generating the BIP39 mnemonic seed words and converting them into the 'quantum' passphrase following four non-destructive rules.The proposal suggests using a 'quantum' passphrase to enhance the security of backup devices and prevent coercion. This passphrase is up to 96 characters long, discouraging the use of user-created words or sentences that may compromise security. The large amount of data required for the passphrase also encourages physical backup.Additionally, the use of BIP39-only words in the passphrase provides standardization and helps avoid mistakes from overly complicated combinations of letters, numbers, and symbols. By creating a two-wallet configuration, users can split the two factors of protection, similar to a 2 of 2 'multi-sig' setup.Creating a BIP39-compatible passphrase with a new set of 24 seed words adds 76 degrees of complexity, meaning there are 10⁷⁶ possible combinations of words. Following four non-destructive BIP39-compatible rules, these 24 seed words can function as a 'quantum' passphrase. This approach offers adequate risk management by producing multiple backup devices and storing them strategically in different geographical locations.
Updated on: 2023-08-02T03:51:11.330003+00:00