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ch05_wallets.adoc
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@ -286,7 +286,7 @@ Several ((("wallets", "recovery codes", "types of", id="wallet-recovery-type")))
writing:
BIP39::
The most ((("BIP39 recovery codes")))popular method for generating recovery codes for the
The most ((("BIP39 recovery codes", primary-sortas="BIP039")))popular method for generating recovery codes for the
past decade, BIP39 involves generating a random sequence of bytes,
adding a checksum to it, and encoding the data into a series of 12 to
24 words (which may be localized to a user's native language). The
@ -691,7 +691,7 @@ modern standards that may provide additional features or safety.
[[recovery_code_words]]
==== BIP39 Recovery Codes
BIP39 ((("wallets", "recovery codes", id="wallet-recovery-bip39")))((("recovery codes", id="recovery-code-bip39")))((("BIP39 recovery codes", id="bip39-recovery")))recovery codes are word
BIP39 ((("wallets", "recovery codes", id="wallet-recovery-bip39")))((("recovery codes", id="recovery-code-bip39")))((("BIP39 recovery codes", primary-sortas="BIP039", id="bip39-recovery")))recovery codes are word
sequences that represent (encode) a random number used as a seed to
derive a deterministic wallet. The sequence of words is sufficient to
re-create the seed and from there, re-create all the
@ -726,7 +726,7 @@ steps 7 through 9 are shown in <<recovery_to_seed>>.
[[generating_recovery_words]]
===== Generating a recovery code
Recovery((("wallets", "recovery codes", "generating", id="wallet-recovery-bip39-generate")))((("recovery codes", "generating", id="recovery-code-bip39-generate")))((("BIP39 recovery codes", "generating", id="bip39-recovery-generate")))((("entropy", "recovery code generation", id="entropy-recovery-generate"))) codes are generated automatically by the wallet application using the
Recovery((("wallets", "recovery codes", "generating", id="wallet-recovery-bip39-generate")))((("recovery codes", "generating", id="recovery-code-bip39-generate")))((("BIP39 recovery codes", "generating", primary-sortas="BIP039", id="bip39-recovery-generate")))((("entropy", "recovery code generation", id="entropy-recovery-generate"))) codes are generated automatically by the wallet application using the
standardized process defined in BIP39. The wallet starts from a source
of entropy, adds a checksum, and then maps the entropy to a word list:
@ -752,7 +752,7 @@ generate a BIP39 recovery code.
image::images/mbc3_0504.png["Generating entropy and encoding as a recovery code"]
<<table_4-5>> shows the relationship between the size of the entropy
data and the length of recovery code in((("wallets", "recovery codes", "generating", startref="wallet-recovery-bip39-generate")))((("recovery codes", "generating", startref="recovery-code-bip39-generate")))((("BIP39 recovery codes", "generating", startref="bip39-recovery-generate")))((("entropy", "recovery code generation", startref="entropy-recovery-generate"))) words.
data and the length of recovery code in((("wallets", "recovery codes", "generating", startref="wallet-recovery-bip39-generate")))((("recovery codes", "generating", startref="recovery-code-bip39-generate")))((("BIP39 recovery codes", "generating", primary-sortas="BIP039", startref="bip39-recovery-generate")))((("entropy", "recovery code generation", startref="entropy-recovery-generate"))) words.
++++
<table id="table_4-5">
@ -804,7 +804,7 @@ data and the length of recovery code in((("wallets", "recovery codes", "generati
[[recovery_to_seed]]
===== From recovery code to seed
The ((("wallets", "recovery codes", "seed generation", id="wallet-recovery-bip39-seed")))((("recovery codes", "seed generation", id="recovery-code-bip39-seed")))((("BIP39 recovery codes", "seed generation", id="bip39-recovery-seed")))((("entropy", "seed generation", id="entropy-seed-generate")))((("seeds", "generating", id="seed-generate")))((("key-stretching functions", id="key-stretch")))recovery code
The ((("wallets", "recovery codes", "seed generation", id="wallet-recovery-bip39-seed")))((("recovery codes", "seed generation", id="recovery-code-bip39-seed")))((("BIP39 recovery codes", "seed generation", primary-sortas="BIP039", id="bip39-recovery-seed")))((("entropy", "seed generation", id="entropy-seed-generate")))((("seeds", "generating", id="seed-generate")))((("key-stretching functions", id="key-stretch")))recovery code
represents entropy with a length of 128 to 256 bits. The entropy is then
used to derive a longer (512-bit) seed through the use of the
key-stretching function PBKDF2. The seed produced is then used to build
@ -989,13 +989,13 @@ recovery code across multiple locations without relying on the safety of
any individual code.
As of 2023, most modern wallets generate 128 bits of entropy for their
recovery codes (or a value near 128, such as((("wallets", "recovery codes", "seed generation", startref="wallet-recovery-bip39-seed")))((("recovery codes", "seed generation", startref="recovery-code-bip39-seed")))((("BIP39 recovery codes", "seed generation", startref="bip39-recovery-seed")))((("entropy", "seed generation", startref="entropy-seed-generate")))((("seeds", "generating", startref="seed-generate"))) Electrum v2's 132 bits).
recovery codes (or a value near 128, such as((("wallets", "recovery codes", "seed generation", startref="wallet-recovery-bip39-seed")))((("recovery codes", "seed generation", startref="recovery-code-bip39-seed")))((("BIP39 recovery codes", "seed generation", primary-sortas="BIP039", startref="bip39-recovery-seed")))((("entropy", "seed generation", startref="entropy-seed-generate")))((("seeds", "generating", startref="seed-generate"))) Electrum v2's 132 bits).
****
[[recovery_passphrase]]
===== Optional passphrase in BIP39
The((("wallets", "recovery codes", "passphrases", id="wallet-recovery-bip39-passphrase")))((("recovery codes", "passphrases", id="recovery-code-bip39-passphrase")))((("BIP39 recovery codes", "passphrases", id="bip39-recovery-passphrase")))((("passphrases (for recovery codes)", id="passphrase-optional"))) BIP39 standard allows the use of an optional
The((("wallets", "recovery codes", "passphrases", id="wallet-recovery-bip39-passphrase")))((("recovery codes", "passphrases", id="recovery-code-bip39-passphrase")))((("BIP39 recovery codes", "passphrases", primary-sortas="BIP039", id="bip39-recovery-passphrase")))((("passphrases (for recovery codes)", id="passphrase-optional"))) BIP39 standard allows the use of an optional
passphrase in the derivation of the seed. If no passphrase is used, the
recovery code is stretched with a salt consisting of the constant string
+"mnemonic"+, producing a specific 512-bit seed from any given recovery code.
@ -1030,7 +1030,7 @@ It's important to note that the use of a passphrase also introduces the risk of
* If the wallet owner is incapacitated or dead and no one else knows the passphrase, the seed is useless and all the funds stored in the wallet are lost forever.
* Conversely, if the owner backs up the passphrase in the same place as the seed, it defeats the purpose of a second((("wallets", "recovery codes", startref="wallet-recovery-bip39")))((("recovery codes", startref="recovery-code-bip39")))((("BIP39 recovery codes", startref="bip39-recovery")))((("wallets", "recovery codes", "passphrases", startref="wallet-recovery-bip39-passphrase")))((("recovery codes", "passphrases", startref="recovery-code-bip39-passphrase")))((("BIP39 recovery codes", "passphrases", startref="bip39-recovery-passphrase")))((("passphrases (for recovery codes)", startref="passphrase-optional"))) factor.
* Conversely, if the owner backs up the passphrase in the same place as the seed, it defeats the purpose of a second((("wallets", "recovery codes", startref="wallet-recovery-bip39")))((("recovery codes", startref="recovery-code-bip39")))((("BIP39 recovery codes", primary-sortas="BIP039", startref="bip39-recovery")))((("wallets", "recovery codes", "passphrases", startref="wallet-recovery-bip39-passphrase")))((("recovery codes", "passphrases", startref="recovery-code-bip39-passphrase")))((("BIP39 recovery codes", "passphrases", primary-sortas="BIP039", startref="bip39-recovery-passphrase")))((("passphrases (for recovery codes)", startref="passphrase-optional"))) factor.
++++
<p class="fix_tracking2">
@ -1044,7 +1044,7 @@ her family to recover the cryptocurrency estate.
[[hd_wallet_details]]
==== Creating an HD Wallet from the Seed
HD wallets ((("wallets", "key generation", "HD (hierarchical deterministic)", id="wallet-keygen-hd")))((("key generation", "HD (hierarchical deterministic)", id="keygen-hd")))((("HD (hierarchical deterministic) key generation", id="hd-keygen")))((("BIP32 HD (hierarchical deterministic) key generation", id="bip32")))((("seeds", "HD wallet creation", id="seed-hdwallet")))are created from a ((("root seeds")))single _root seed_, which is a
HD wallets ((("wallets", "key generation", "HD (hierarchical deterministic)", id="wallet-keygen-hd")))((("key generation", "HD (hierarchical deterministic)", id="keygen-hd")))((("HD (hierarchical deterministic) key generation", id="hd-keygen")))((("BIP32 HD (hierarchical deterministic) key generation", primary-sortas="BIP032", id="bip32")))((("seeds", "HD wallet creation", id="seed-hdwallet")))are created from a ((("root seeds")))single _root seed_, which is a
128-, 256-, or 512-bit random number. Most commonly, this seed is
generated by or decrypted from a recovery code as detailed in the previous section.
@ -1281,7 +1281,7 @@ user can create "receive" addresses at will, while the private keys are
safely stored offline. To spend the funds, the user can use the extended
private key on an offline software wallet application or
the hardware signing device. <<CKDpub>> illustrates the
mechanism for extending a parent public key to derive child ((("wallets", "key generation", "HD (hierarchical deterministic)", startref="wallet-keygen-hd")))((("key generation", "HD (hierarchical deterministic)", startref="keygen-hd")))((("HD (hierarchical deterministic) key generation", startref="hd-keygen")))((("BIP32 HD (hierarchical deterministic) key generation", startref="bip32")))((("seeds", "HD wallet creation", startref="seed-hdwallet")))((("key generation", "HD (hierarchical deterministic)", "public child key derivation", startref="keygen-hd-public-child")))((("HD (hierarchical deterministic) key generation", "public child key derivation", startref="hd-keygen-public-child")))((("public child key derivation", startref="public-child")))((("child key pair derivation", "public keys", startref="child-key-pair-public")))public keys.
mechanism for extending a parent public key to derive child ((("wallets", "key generation", "HD (hierarchical deterministic)", startref="wallet-keygen-hd")))((("key generation", "HD (hierarchical deterministic)", startref="keygen-hd")))((("HD (hierarchical deterministic) key generation", startref="hd-keygen")))((("BIP32 HD (hierarchical deterministic) key generation", primary-sortas="BIP032", startref="bip32")))((("seeds", "HD wallet creation", startref="seed-hdwallet")))((("key generation", "HD (hierarchical deterministic)", "public child key derivation", startref="keygen-hd-public-child")))((("HD (hierarchical deterministic) key generation", "public child key derivation", startref="hd-keygen-public-child")))((("public child key derivation", startref="public-child")))((("child key pair derivation", "public keys", startref="child-key-pair-public")))public keys.
[[CKDpub]]
.Extending a parent public key to create a child public key.
@ -1465,7 +1465,7 @@ because the possibilities for internal organization into branches and
subbranches are endless.
Two BIPs offer a solution to this complexity by creating some proposed
standards for the structure of HD wallet trees. ((("BIP43 HD wallet tree structure")))BIP43 proposes the use
standards for the structure of HD wallet trees. ((("BIP43 HD wallet tree structure", primary-sortas="BIP043")))BIP43 proposes the use
of the first hardened child index as a special identifier that signifies
the "purpose" of the tree structure. Based on BIP43, an HD wallet
should use only one level-1 branch of the tree, with the index number
@ -1474,7 +1474,7 @@ defining its purpose. For example, an HD wallet using only branch
m/i++&#x27;++/ is intended to signify a specific purpose, and that
purpose is identified by index number "i."
Extending that specification, ((("BIP44 HD wallet tree structure", id="bip44")))BIP44 proposes a multiaccount structure
Extending that specification, ((("BIP44 HD wallet tree structure", primary-sortas="BIP044", id="bip44")))BIP44 proposes a multiaccount structure
as "purpose" number +44'+ under BIP43. All HD wallets following the
BIP44 structure are identified by the fact that they only used one
branch of the tree: m/44++'++/.
@ -1536,7 +1536,7 @@ a few more examples.
</table>
++++
Many people ((("BIP44 HD wallet tree structure", startref="bip44")))focus on securing their bitcoins against theft and other
Many people ((("BIP44 HD wallet tree structure", primary-sortas="BIP044", startref="bip44")))focus on securing their bitcoins against theft and other
attacks, but one of the leading causes of lost bitcoins--perhaps _the_
leading cause--is data loss. If the keys and other essential data
required to spend your bitcoins is lost, those bitcoins will forever be