The world of cryptocurrency never ceases to innovate, striving for improvements largely centered around security and ease of use. Of many issues a sincere crypto enthusiast encounters, the trouble of asset forfeiture stands at the forefront. One might not only lose their hard-earned digital fortune to online predators snooping for private keys, but at times, even governmental interference for matters unrelated to crypto, results in the confiscation of crypto assets. Anticipating a resolution of these concerns, Bitcoin presents a promising tool.
Gone are the days when private keys were just words or aplhanumeric characters, vulnerable and easy targets. Innovative in its core, the new tool ingeniously replaces the conventional format with rainbows. Yes, that’s right – user assets stored in colors. This leap, many believe, will shield user assets from intrusive eyes, securing the crypto sphere even more.
The brainchild behind this creative conversion is Entero Positivo, a Bitcoin developer, who calls this tool “BIP39Colors”. Designed as an open-source tool, BIP39Colors translates a user’s BIP39 mnemonic phrase into an array of colors, with instructions available for decoding the color back to the initial mnemonic phrase. Positivo elaborates, using this tool, one can change a 12-word phrase to 8 colors, or a 24-word phrase to 16 colors, allowing one to revert back to the original seed as need be.
Prior to this remarkable development, crypto investors relied on the BIP39 standard. This involved the generation of a seed phrase, usually comprising 12 to 24 words. This gave the investor exclusive access to their Bitcoin Wallet. Many wallet providers recommended jotting down these key phrases as a paper backup – a failsafe in case the wallet device got lost. But, as Positivo points out, such paper trails are glaring clues to unauthorized entities on the prowl.
Positivo suggests the upgraded tool as a more secure replacement – a key phrase stored as a color. According to him, a paper with 12 words is significantly more suspicious than a color palette, which could be deceptively labelled as paint choices for a new home, or tucked away amidst the styles.css of a website. In a world increasingly moving towards the digital, our valuable assets deserve the best protection available. With agnostic colors and a vibrant future, Bitcoin demonstrates its commitment to their user’s cryptographically secured wealth.
Source: Cryptonews
