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From: Jean-Paul Kogelman <jeanpaulkogelman@me.com>
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Date: Wed, 12 Mar 2014 08:45:50 -0700
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To: Pavol Rusnak <stick@gk2.sk>,
	Bitcoin Dev <bitcoin-development@lists.sourceforge.net>
In-reply-to: <53205D1E.1000100@gk2.sk>
Subject: Re: [Bitcoin-development] [RFC] Proposal: Base58 encoded HD Wallet
 root key with optional encryption
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On Mar 12, 2014, at 6:11 AM, Pavol Rusnak <stick@gk2.sk> wrote:

> On 03/12/2014 04:17 AM, Jean-Paul Kogelman wrote:
>> We've been hard at work updating the spec to include features that =
were requested. We've removed the Scrypt dependency that was present in =
the initial drafts, added new KDFs, added plausible deniability and have =
a reference implementation.
>=20
> Are you aware of BIP-0039?
>=20
> https://github.com/bitcoin/bips/blob/master/bip-0039.mediawiki
>=20
>=20

Yes I am. There are some differences between BIP 39 and my proposal =
though.=20

- BIP 39 offers an easy list of words, no gnarly string of case =
sensitive letters and numbers.
- BIP 39 only offers one fixed length of entropy, always 12 words, no =
option to increase or decrease the length.
- BIP 39 doesn't have a genesis date field, so no optimization during =
blockchain rescan.
- BIP 39 doesn't have password typo detection. No easy way to recover a =
password if you know most of it.
- BIP 39 does not have a user selectable KDF, only 2048 round =
PBKDF2-HMAC-SHA512.=20
- BIP 39 can't outsource the KDF computation to a 3rd party.
- BIP 39 wallet implementors can use their own word lists, breaking =
cross wallet compatibility.


jp

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