A new approach to generation of mnemonic phrases based on media files

Authors

DOI:

https://doi.org/10.18372/2073-4751.73.17642

Keywords:

deterministic wallet, initial phrase, mnemonic, crypto-wallet

Abstract

Memorable passphrases have become a popular method of protecting cryptocurrency wallets due to their ease of use and the ability to restore wallets in case of loss of physical media. However, the security of mnemonic passphrases depends on the reliability of the seed phrase and the security measures used to store and protect it. This study evaluates the security of storing memorable passphrases and assesses the risks associated with other storage methods. Disadvantages associated with various types of cryptocurrency wallets have been identified, including the potential for data leakage and hacking attacks, vulnerability to physical theft and damage. A new approach was proposed in creating and storing a memorable phrase using media files. The obtained results make it possible to conclude that the proposed approach is more secure than the existing methods of preserving the ymonic phrase.

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Published

2023-04-28

How to Cite

Makarenko, O., Okhrimenko, T., & Brednikov, A. (2023). A new approach to generation of mnemonic phrases based on media files. Problems of Informatization and Control, 1(73), 33–38. https://doi.org/10.18372/2073-4751.73.17642

Issue

Vol. 1 No. 73 (2023)

Section

Статті

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