Bip 39 list - EwaQw/EwaQwa GitHub Wiki

The World's 39 Bitcoin Improvement List ("BIP39" for short) is a standardized set of words for restoring and backing up bitcoin or a cryptocurrency wallet. It is a mnemonic phrase consisting of 12, 18 or 24 words selected from a predefined list of 2048 words. This phrase, also known as seed phrase, seed words, or recovery phrase, allows users to restore access to their cryptocurrency funds in the event of loss or damage to their wallet.

The Bip 39 list greatly simplifies the process of backing up and restoring wallets compared to the need to store long and complex private keys. Instead, users simply record or securely store a sequence of words.

Key aspects of BIP39:

• Easy to use: A mnemonic phrase is much easier to remember and write down than a long hexadecimal private key.

• Standardization: BIP39 provides a standardized approach that allows different wallets and devices to use the same mnemonic phrase for recovery. This ensures compatibility between different wallets that support BIP39.

• Security: Despite its simplicity, BIP39 provides a high level of security.

The list of words and the generation algorithm are designed in such a way as to prevent intruders from guessing the mnemonic phrase. checksum is used to verify the integrity of the phrase. • Hierarchical Deterministic (HD) Wallet: BIP39 is commonly used in conjunction with HD wallets (defined in BIP32 and BIP44). This means that a hierarchy of private and public keys can be generated from a single seed phrase, allowing the user to manage multiple accounts and addresses from a single backup.

The process of creating a wallet using Bip39 pdf usually involves the following steps:

  1. The wallet generates random entropy.

  2. This entropy is used to select words from the BIP39 list.

  3. A checksum is added to the generated phrase to ensure integrity.

  4. The Seed phrase is used to generate a master key, which, in turn, is used to generate a hierarchy of private and public keys.

It is important to note that the security of BIP39-protected cryptocurrencies directly depends on the security of seed phrase storage. The Seed phrase must be stored in a safe place, away from prying eyes, and must not be compromised. It is recommended to use physical storage methods, such as writing on paper or using special devices for storing seed phrases. Never store the seed phrase digitally on your computer or in the cloud unless it is securely encrypted.