There was a discussion on BIP39 seeds and the probability of getting a valid BIP39 using randomly chosen words, otherwise known as brute forcing. The probability is about 1:256 for 24 words and 1:16 for 12 words. This is meant to change drastically with SLIP 39, proposed last year, SLIP 39 describes a standard implementation of Shamir’s secret-sharing, which splits a secret into unique parts which can be distributed among participants.

The sharing method requires the existence of a certain amount of parts in order to reconstruct the original secret, just like an N-of-M multisignature scheme, the scheme uses an English wordlist just like the old one along with a Passphrase that allows additional protection of the master secret.

• discussion