Author: Ignacio Berrozpe 2018-09-24 19:49:08
Published on: 2018-09-24T19:49:08+00:00
In an email sent to Andrew Kozlik via bitcoin-dev, Ignacio Berrozpe commented on Kozlik's work regarding the splitting of BIP-32 master seeds into multiple mnemonics using Shamir's secret sharing scheme (SSS). Berrozpe previously published an article proposing a similar concept of splitting bitcoins private keys into shares that could be encoded directly using BIP-0039 mnemonic words. He believed this proposal was simpler than Kozlik's but could still benefit existing private key backups by splitting them into SSS shares that could use the existing BIP-0039 mnemonic to encode directly the shares. Berrozpe suggested that hardware wallet providers such as Trezor could offer a more secure alternative to the existing BIP-0039 private key backups of 24 words. Berrozpe posed two questions to Kozlik regarding his proposed work: if he would standardize different topics under the same proposal and if he had thought of a way to deal with existing legacy private keys already encoded into BIP-0039 or stored in other formats and how to migrate them securely into a schema of encoded SSS shares. In Kozlik's email, he shared the high-level design of the new spec for splitting BIP-32 master seeds into multiple mnemonics using SSS. He requested feedback on the section entitled "Master secret derivation functions," which proposes several different solutions. Kozlik noted that some technical details have not been fully specified yet but will be completed once the high-level design is settled. The document is a work in progress, and Kozlik is interested in receiving input from others in the community.
Updated on: 2023-06-13T14:54:28.741982+00:00