BIP44 vs SLIP39

Security About seeds and wallet
1

I am not sure if I should use the SLIP39 or BIP44 standard.
My understanding is that BIP44 is more compatible and adopted, and if I want to do a Shamir backup I can also do this with BIP44 using software for that on an air gaped offline PC.

Do i lack any information about this?

2

Hi @a_nice_person,
imho you are mixing two independent things here. SLIP39 aka Single/Multi Share backup is the cornerstone of the m in derivation path. So BIP44 builds on top of this m (master private key).

Hopefuly i’m not mistaken here :sunglasses:

3

BIP44 and SLIP39 are different ways to generate a seed phrase, or am i wrong?

4

I would say: BIP39 vs. newer & improved SLIP39 are different way to generate wallet backup (aka Recovery Seed). They are incompatible.

SLIP39 is my way to go, because it offers me two must have features:

  • strong internal and external checksum
  • MultiShare backup

SLIP39 nice to have features:

  • iteration exponent offering higher rounds of PBKDF2 :innocent:
  • Group Shares (MultiShare on steroids :rofl:)

PS: It seems that trezorctl does not have an option for custom iteration exponent yet :sob: