Author: thomasV1 at gmx.de 2013-10-24 17:29:18
Published on: 2013-10-24T17:29:18+00:00
The author proposes a new BIP to replace BIP0039 due to its lack of backward compatibility with Electrum and failure to provide version number information. The proposed solution includes allocating a few bits of the mnemonic for encoding a version number along with checksum bits and using a target of k bits that contains metadata for the wallet structure. The proposed solution also involves mining for the seed until the desired metadata is obtained in the hash, which adds difficulty to the process of finding a seed. The author suggests a dictionary-independent solution, allowing developers to define new dictionaries adapted to specific needs. The resulting mnemonics will always be usable with other clients, even if they do not know the dictionary. The author is willing to write a new BIP specifying this proposal in detail.
Updated on: 2023-06-07T18:26:21.340892+00:00