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judymcconville@roadrunner.com 2017-04-28 12:23:54 -07:00
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@ -67,7 +67,7 @@ The second advantage of HD wallets is that users can create a sequence of public
==== Seeds and Mnemonic Codes (BIP-39)
((("wallets", "technology overview", "seeds and mnemonic codes")))((("mnemonic code words")))Hierarchical deterministic wallets are a very powerful mechanism for managing many keys and addresses. They are even more useful if they are combined with a standardized way of creating seeds from a sequence of English words that are easy to transcribe, export, and import across wallets. This is known as a _mnemonic_ and the standard is defined by BIP-39. Today, most bitcoin wallets (as well as wallets for other cryptocurrencies) use this standard and can import and export seeds for backup and recovery using interoperable mnemonics.
((("wallets", "technology overview", "seeds and mnemonic codes")))((("mnemonic code words")))((("bitcoin improvement proposals", "Mnemonic Code Words (BIP-39)")))Hierarchical deterministic wallets are a very powerful mechanism for managing many keys and addresses. They are even more useful if they are combined with a standardized way of creating seeds from a sequence of English words that are easy to transcribe, export, and import across wallets. This is known as a _mnemonic_ and the standard is defined by BIP-39. Today, most bitcoin wallets (as well as wallets for other cryptocurrencies) use this standard and can import and export seeds for backup and recovery using interoperable mnemonics.
Let's look at this from a practical perspective. Which of the following seeds is easier to transcribe, record on paper, read without error, export, and import into another wallet?
@ -84,7 +84,7 @@ garbage claim echo media make crunch
==== Wallet Best Practices
As bitcoin wallet technology has matured, certain common industry standards have emerged that make bitcoin wallets broadly interoperable, easy to use, secure, and flexible. These common standards are:
((("wallets", "best practices for")))As bitcoin wallet technology has matured, certain common industry standards have emerged that make bitcoin wallets broadly interoperable, easy to use, secure, and flexible. These common standards are:
* Mnemonic code words, based on BIP-39
* Hierarchical deterministic wallets, based on BIP-32