A new tool for recovering private keys has been created
The newly created tool may make it much more difficult for fraudsters to take over cryptocurrency assets.
Word lists and alphanumeric strings are likely to be obsolete soon. The latest tool from one of the Bitcoin developers - Entero Positivo called "BIP39Colors" allows you to camouflage your private keys in a "rainbow".
The latest private key recovery tool
BIP39 is a kind of standard for generating the initial phrase, i.e. a highly ordered set of 12 to 24 words. It contains some information that is necessary to create a private key. Let us remind here that private keys are used to create and access a Bitcoin wallet.
In order not to lose digital currencies if the private key is lost, more and more cryptocurrency wallet providers strongly encourage users to create recovery phrases as a backup. They can be saved on any device, preferably on a piece of paper.
Due to the fact that for many hackers, the stored list of phrases can most often be something completely obvious, however, a certain programmer presented a completely new and revolutionary way to hide private keys. Due to the fact that some colors are everywhere around us, the private key to a cryptocurrency wallet saved with them could probably even be left in plain sight, and a potential hacker or thief would not notice it.
“A 12-word paper is definitely more suspect than some sort of color palette that would be labeled, for example, “my latest home wall colors,” Entero Positivo mentioned.
The set of colors that could be generated by the tool will most likely be expressed in the form of a hexagonal color code. This revolutionary six-digit system represents virtually any type of color as a combination of red, blue and green. These colors can easily be stored in just a few files, including HTML, CSS, and the PNG color palette.
Unlike the current word-based security system, you don't need to remember the "order" of the colors at all to retrieve your seeds. The only thing that matters is that all the colors are present. In the opinion of the creator of this new type of tool, the flexibility of this method of storing recovery phrases can make it much more difficult for governments of individual countries to seize someone else's Bitcoins.
Finally, it is worth adding information that Entero Positivo has also included instructions describing how to decode BIP39 colors back to the mnemonic phrase using a calculator. The important thing is that for this purpose, the user can do it without using any external tool.
