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How many of you are actually using a 20 words private key as per SLIP39?
Hey, So after a lot of research I've arrived at the conclusion that 12 words really is enough, seeing as the security of the elliptic curve is actually around half of 256 bits, that is 128 bits. Any additional entropy than 128 bits is in theory superfluous. Having 24 words is like having a 24 inch steel vault-door protecting your private key while the the vault walls are actually 12 inch thick. I see a lot of advantages with SLIP39 and using Samir's Secret Sharing Scheme in the future. This brings me to my question: how many of you are actually using SLIP39 and what are your thoughts/experiences? Thanks! submitted by /u/sneezyiol [link] [comments]
Hey,
So after a lot of research I've arrived at the conclusion that 12 words really is enough, seeing as the security of the elliptic curve is actually around half of 256 bits, that is 128 bits.
Any additional entropy than 128 bits is in theory superfluous. Having 24 words is like having a 24 inch steel vault-door protecting your private key while the the vault walls are actually 12 inch thick.
I see a lot of advantages with SLIP39 and using Samir's Secret Sharing Scheme in the future. This brings me to my question: how many of you are actually using SLIP39 and what are your thoughts/experiences?
Thanks!
[link] [comments]
