Author: Dan Libby 2017-09-29 20:13:59
Published on: 2017-09-29T20:13:59+00:00
Dan Libby suggests and discusses the addition of paper wallet functionality in bitcoin-core software starting with a single new RPC call: genExternalAddress [type]. He believes that Bitcoin-Core is the most trusted and secure Bitcoin implementation. Currently, paper wallet generation requires the use of third-party software or even a website such as bitaddress.org. This requires placing trust in an additional body of code from a less-trusted and less peer-reviewed source. Dan recommends trusting a paper wallet that uses addresses generated by Bitcoin-Core itself. One cannot simply use getnewaddress, getaccountaddress, or getrawchangeaddress for this purpose because the associated private keys are added to the Bitcoin-Core wallet and cannot be removed or in the case of hd-wallets are deterministically derived. He proposes defining a multi-sig generation RPC that would facilitate multi-sig paper wallets stored in different physical locations, amongst other use-cases.
Updated on: 2023-06-12T21:23:30.333713+00:00