Encrypting private keys for offine storage.

Question

One of the standards today with Bitcoin private keys for password protecting the private key is BIP38.  I am writing an application that uses this format but the private key in multichain does not seem to work with BIP38.  I suppose your format is different? The private key contains more bytes? Do you recommend another encryption technique we can use to password protect the private key or is there still a way to use BIP38?

Answer 1

You can certainly use MultiChain with any method for encrypting or protecting bitcoin private keys. MultiChain does make some versioning changes to the private key format, as described here:

https://www.multichain.com/developers/address-key-format/

However you can have bitcoin-compatible private keys by setting up a chain with the following parameters:

private-key-version=80
address-checksum-value=00000000