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Standardizing encrypted descriptor backups can optimize chain space, Peter Todd argues

Standardizing encrypted descriptor backups can optimize chain space, Peter Todd argues
Wallets should backup descriptors on Bitcoin

Peter Todd argues that wallets should define a standard to back up wallet descriptors to the Bitcoin blockchain in encrypted form, such as using an OP_Return or taproot annex.

Todd contends that for wallets in active use, this type of encrypted backup would only consume a minimal percentage of blockchain space.

Todd previously conducted a review of BIP-110 code and found that Bitcoin Core users remained unaffected in the absence of attacks. He has also cautioned crypto holders to avoid keeping all digital assets in a single location. These recommendations align with his ongoing focus on wallet security and risk mitigation.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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