Author: Ali Sherief 2023-05-30 10:08:02
Published on: 2023-05-30T10:08:02+00:00
There is a proposition to come up with a way to encrypt an extended private key using reversible encryption, similar to BIP38 encrypted keys for singular private keys. The advantage of encrypting an extended private key would be that coinmakers would only need to generate one master private key during manufacturing instead of generating multiple private keys. BIP38 was designed for physical coins and covers cases for lot and sequence numbers in detail. In an encrypted extended private key scenario, the lot and sequence numbers can be placed in the HD derivation path. This can be derived using hardened derivation, as in m/lot'/sequence'. However, this advantage may not be convincing enough so opinions from others are being sought after.
Updated on: 2023-06-01T16:59:49.093465+00:00