Re: [Bitcoin-development] [RFC] Proposal: Base58 encoded HD Wallet master seed with optional encryption

[Jean-Paul Kogelman <jeanpaulkogelman@me.com>]

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I've made no changes since the last time I've mentioned it here on the list (when the BIP procedures were being discussed).

The last changes are:

01-10-2013 - Expanded the salt to be prefix + date + checksum and renamed 'master seed' to 'root key'.
24-07-2013 - Added user selectable KDF + parameters, encoded in the prefix.
22-07-2013 - Added 2 byte creation date field, as a result, the prefix is expanded to 3 bytes.

The biggest difference between this proposal and BIP38 is that BIP38 allows a 3rd party to generate the encrypted private key + confirmation code from a passphrase code. Since this proposal is about encrypting a random value that's fed into HMAC-SHA512 and the presence of a partial hash of the root address, that's not possible.




>> https://bitcointalk.org/index.php?topic=258678
> 
> Greetings.  Any recent progress on this?
> 
> Do we believe this proposal can replace BIP38?  If not, what are the
> limitations that would prevent it from doing so?


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