The BIP38 open-source standard implements an advanced cryptography technique called double-blind encryption. This allows an encrypted private key and its corresponding public key to be generated from an encrypted passphrase. Since the passphrase is encrypted, the party who generates the encrypted private key does not know the passphrase needed to decrypt it. In the context of BIP38, the encrypted passphrase is called an intermediate code. In Ballet’s two-factor key generation process, the passphrase and intermediate code are generated in one secure facility and then the intermediate code is sent to another secure facility where the encrypted private key is generated from the intermediate code. For more information on Ballet’s patented 2FKG manufacturing process, please visit: https://www.balletcrypto.com/2FKG
Articles in this section
- How are Ballet wallet private keys generated?
- Does the Ballet Crypto app store my Ballet wallet private key on my mobile device or transmit it over the internet?
- How is it possible to generate a cryptocurrency address from a passphrase and encrypted private key without combining them on the same computer?
- How do you make sure that company employees or anyone with access to Ballet manufacturing facilities cannot steal encrypted private keys or passphrases during or after the manufacturing process?
- How are Ballet wallet passphrases and encrypted private keys are matched correctly during the manufacturing process?
- How do you verify that each Ballet wallet’s encrypted private key can be decrypted by the wallet passphrase before selling wallets to the public?
- Why should I trust Ballet?
- How is it possible to generate an encrypted private key without knowing the passphrase needed to decrypt it?
- Do Ballet wallets allow me to generate my own private keys?
- Isn’t it safer to use cryptocurrency wallets that allow me to generate my own private keys?