Author: Jonas Schnelli 2017-09-30 21:14:44
Published on: 2017-09-30T21:14:44+00:00
The Bitcoin Core wallet currently shares the same process and memory space with the full node, making it less than ideal. While some users use the Core in watch-only mode for offline signing, there is no direct support for offline signing except for the rawtx API. The proposed RPC call generates a key/address that will not be stored in the internal wallet and can be used by the user as they wish. However, paper wallets may lead to address reuse and an insecure spending procedure. Trust is also a concern, as users may need to audit additional software outside of Bitcoin Core. The removal of dumpprivkey and dumpwallet RPCs from Bitcoin Core is being considered, especially if HD public key derivation forms become allowed. Users should have no way to view or export private keys except for seed backup, although this approach disempowers users. Backups should be encrypted, and the restore process should be footgun-safe. While there is nothing existing yet to address all of these concerns, working towards them should be the focus.
Updated on: 2023-06-12T21:22:37.560197+00:00