Re: [HOW TO] Generate Secure Bitcoin Minikeys using base57 and base32
⭐ Merited by vapourminer (1)
Wouldn't this method reduce entropy?
If I'm not mistaken a character of a minikey contains 5 bits.
Which is 110bits lesser than the standard 256 bit of security.
There's a reason minikeys normal standard of 30 character wasn't widely adopted.
If I'm not mistaken a character of a minikey contains 5 bits.
Which is 110bits lesser than the standard 256 bit of security.
There's a reason minikeys normal standard of 30 character wasn't widely adopted.
Do you remember source or reason why each character of minikey have 5 bits or minikey as whole only have 110 bits? From naive calculation, the possible combination is quite higher than 2^110.
Code:
log2(58^30) = 174.99
log2(57^30) = 175.74
log2(32^30) = 150
log2(57^30) = 175.74
log2(32^30) = 150
I only skimmed your thread, but why did you create Base57 format when Base58 already exist? What are the benefits (for collectible, physical coin and similar goods) you haven't mentioned yet?
Hey buddy thanks for the interest:) The base57 eliminates the "1" from base58. It's just another layer of protection to ensure you can easily identify the characters in the private key when it's time to do so. 
I thought Base58 supposed to solve the problem of similar character identification[1]. But i guess that's not the case.
[1] https://learnmeabitcoin.com/technical/keys/base58/