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CH04::encrypted private keys: drop

These were always a bad idea and they've been superceded both in
theory and in practice by HD wallets.
This commit is contained in:
David A. Harding 2023-02-07 17:07:27 -10:00
parent 915b961d41
commit 1ddec1538e

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@ -1207,68 +1207,6 @@ following sections we will look at advanced forms of keys and addresses,
such as encrypted private keys, script and multisignature addresses, such as encrypted private keys, script and multisignature addresses,
vanity addresses, and paper wallets. vanity addresses, and paper wallets.
==== Encrypted Private Keys (BIP-38)
((("bitcoin improvement proposals", "Encrypted Private Keys
(BIP-38)")))((("keys and addresses", "advanced forms", "encrypted
private keys")))((("public and private keys", "encrypted private
keys")))((("passwords", "encrypted private keys")))((("security",
"passwords")))Private keys must remain secret. The need for
_confidentiality_ of the private keys is a truism that is quite
difficult to achieve in practice, because it conflicts with the equally
important security objective of _availability_. Keeping the private key
private is much harder when you need to store backups of the private key
to avoid losing it. A private key stored in a wallet that is encrypted
by a password might be secure, but that wallet needs to be backed up. At
times, users need to move keys from one wallet to another—to upgrade or
replace the wallet software, for example. Private key backups might also
be stored on paper (see <<paper_wallets>>) or on external storage media,
such as a USB flash drive. But what if the backup itself is stolen or
lost? These conflicting security goals led to the introduction of a
portable and convenient standard for encrypting private keys in a way
that can be understood by many different wallets and bitcoin clients,
standardized by BIP-38 (see <<appdxbitcoinimpproposals>>).
BIP-38 proposes a common standard for encrypting private keys with a
passphrase and encoding them with Base58Check so that they can be stored
securely on backup media, transported securely between wallets, or kept
in any other conditions where the key might be exposed. The standard for
encryption uses the Advanced Encryption Standard (AES), a standard
established by the NIST and used broadly in data encryption
implementations for commercial and military applications.
A BIP-38 encryption scheme takes as input a bitcoin private key, usually
encoded in the WIF, as a Base58Check string with the prefix of "5."
Additionally, the BIP-38 encryption scheme takes a passphrase—a long
password—usually composed of several words or a complex string of
alphanumeric characters. The result of the BIP-38 encryption scheme is a
Base58Check-encoded encrypted private key that begins with the prefix
+6P+. If you see a key that starts with +6P+, it is encrypted and
requires a passphrase in order to convert (decrypt) it back into a
WIF-formatted private key (prefix +5+) that can be used in any wallet.
Many wallet applications now recognize BIP-38-encrypted private keys and
will prompt the user for a passphrase to decrypt and import the key.
Third-party applications, such as the incredibly useful browser-based
http://bitaddress.org[Bit Address] (Wallet Details tab), can be used to
decrypt BIP-38 keys.
The most common use case for BIP-38 encrypted keys is for paper wallets
that can be used to back up private keys on a piece of paper. As long as
the user selects a strong passphrase, a paper wallet with BIP-38
encrypted private keys is incredibly secure and a great way to create
offline bitcoin storage (also known as "cold storage").
Test the encrypted keys in <<table_4-10>> using bitaddress.org to see
how you can get the decrypted key by entering the passphrase.
[[table_4-10]]
.Example of BIP-38 encrypted private key
|=======
| *Private Key (WIF)* | 5J3mBbAH58CpQ3Y5RNJpUKPE62SQ5tfcvU2JpbnkeyhfsYB1Jcn
| *Passphrase* | MyTestPassphrase
| *Encrypted Key (BIP-38)* | 6PRTHL6mWa48xSopbU1cKrVjpKbBZxcLRRCdctLJ3z5yxE87MobKoXdTsJ
|=======
[[p2sh_addresses]] [[p2sh_addresses]]
==== Pay-to-Script Hash (P2SH) and Multisig Addresses ==== Pay-to-Script Hash (P2SH) and Multisig Addresses