Author: Sjors Provoost 2017-09-29 20:21:48
Published on: 2017-09-29T20:21:48+00:00
The proposal of adding paper wallet functionality to bitcoin-core software is discussed in this context. The writer suggests the addition of a new RPC call genExternalAddress [type] for generating a new Bitcoin address and private key for receiving payments. This would enable users to trust a paper wallet that uses addresses generated by bitcoin-core itself, which is more secure than using third-party software. However, there are concerns about encouraging users to generate paper wallets from online machines, which could potentially compromise their security. Supporting BIP43/44/49 would be a larger project and may cause confusion. The standards are still Proposed / Draft and might have room for improvement. Further steps could be taken in this direction, such as an RPC call to generate an external HD wallet seed and GUI functionality in bitcoin-qt to facilitate easy paper wallet generation for end-users.
Updated on: 2023-06-12T21:23:57.257412+00:00