Author: ZmnSCPxj 2021-09-29 21:59:16
Published on: 2021-09-29T21:59:16+00:00
The author is proposing an idea for a hardwallet that makes funds unseizable using proof of creation through a key file. The creator would be the only one who can reveal the private keys. The concept is well defined and the elements to execute the project already exist. The proposed device sacrifices transfer of ownership of the coins due to the key file. The basic idea is to generate a simple 2-of-2 by combining the private key on the device with a private key generated from the key file. The software would then generate a private key from the key file provided by the user and tweaks the device pubkey to generate the Bitcoin address. In order to spend from that address, both the key file and the device have to be put together. The device can be configured with random entropy separately from the keyfile, allowing it to not require the keyfile when leaving "new unit" state, reducing the possibility of malware getting access to both the entropy and the key file. The author does not recommend or mention the use of brainwallets, even for keyfiles.
Updated on: 2023-06-15T02:31:47.743799+00:00