On Tue, Dec 4, 2012 at 10:06 PM, Mike Koss <m...@coinlab.com> wrote: > I've implemented an alternative to the BIP 32 proposal. I wanted a system > based on a hierarchical string representation (rather than hierarchy of > integers as BIP 32 proposes). For example I name keys like this: > > [hd1.75491111].store.1. 1D7GM5dkUtxvGeWgn7SYtanBuyj1MD1EZy > [hd1.75491111].store.2. 1QAqDbzpNKViGSjVe1XmnGbmZtvz5hM7t1 > [hd1.75491111].store.3. 14XkSN92QLGeorYPpoVbG87DQhowEx3mFn > [hd1.75491111].store.4. 1JLcGdod6Wm33rMZuZZUmAEE6osLhM4QMn > > First draft of proposal: > > https://gist.github.com/4211704
As Pieter pointed out recently— it's not (realistically) possible to blindly iterate through strings. This means your proposal loses the backup recoverablity property which is part the point of a deterministic wallet: If you have a backup prior to a new string name being established you must also have a reliable backup of the string as well. Of course, if you're backing up the strings then you can also backup a map equating the hdwallet indexes to your strings, and in the event of a catastrophic loss where you are only left with the original ultimate root you lose no coins (only metadata) with the BIP32 scheme. If, instead, we have your scheme and the backup of strings is incomplete then some or all assigned coin may be lost forever. Your extended hierarchy of multiplers also makes me uncomfortable. BIP32 uses a HMAC in its construction to obtain strongly unstructured points. ------------------------------------------------------------------------------ LogMeIn Rescue: Anywhere, Anytime Remote support for IT. Free Trial Remotely access PCs and mobile devices and provide instant support Improve your efficiency, and focus on delivering more value-add services Discover what IT Professionals Know. Rescue delivers http://p.sf.net/sfu/logmein_12329d2d _______________________________________________ Bitcoin-development mailing list Bitcoin-development@lists.sourceforge.net https://lists.sourceforge.net/lists/listinfo/bitcoin-development
