Forget the days of using word lists and random strings of characters to secure your Bitcoin; a novel tool now allows you to conceal the key to your coins within a colorful rainbow.
Last month, Entero Positivo, a Bitcoin developer, released an open-source tool called “BIP39Colors” which enables the conversion of BIP39 mnemonic phrases into color sequences and vice versa, providing users with a versatile solution.
According to Decrypt, Positivo explained that utilizing this new approach allows users to transform a 12 or 24-word phrase to a condensed sequence of 8 or 16 colors, respectively, which can then be converted back to the original seed.
The BIP39 standard provides a means of generating a seed phrase: a sequence of 12 to 24 words in a set order, containing the information required to establish a private key for the creation and use of a Bitcoin wallet.
The introduction of standardized mnemonic phrases aimed to simplify the process of recovering cryptocurrency for users who may misplace their wallet devices. By transforming their intricate private keys into a set of easily readable words, users can more easily regain access to their digital assets.
At present, most wallet providers advise users to note down their 12 words on paper in order to secure them against loss, emphasizing the importance of not sharing this information with others. Positivo cautions, however, that backing up one’s digital assets in this way can attract unwanted attention from cyber criminals or malicious parties, as it is a well-known method of storing cryptocurrency.
Colors, on the other hand, “are everywhere”. Unlike a written list of private keys, a sequence of colors that conceals a private key could be in plain view without drawing suspicion from a thief who may be unaware of the significance of the colors.
Positivo said, “A paper with 12 words is more suspicious than a color palette labeled like ‘my new home wall colors,’ for example, or inside a styles.css of your [website].”
The tool generates colors using a hex color code, a six-digit system that represents a wide range of colors through combinations of red, blue, and green values. Positivo explained that these colors can be stored in various types of files, including HTML, CSS, or the color palette within a PNG image.
The new color-based system does not require the user to remember the specific order of the colors in order to retrieve their seed. Instead, it only requires that all of the colors are present. The developer suggests that this flexible storage method could make it more challenging for governmental authorities to confiscate someone’s Bitcoin.
“You can give one color to your mother, another inside your [website], another one written in a web design book… and in the future recover your seed from these agnostic colors,” he wrote.
In addition, the developer presented guidelines on how to decrypt one’s BIP39 colors and convert them back into a mnemonic phrase using only a calculator, with no external tools necessary.
