The Bitcoin Wallet Standards Initiative

[mynhpark]

This past weekend on April 1-2 in Berlin, Germany, a group of various bitcoin developers met to discuss industry-wide wallet standards.
The “Bitcoin Wallet Standards Initiative” had some of the most popular and leading wallet representatives within the cryptocurrency ecosystem.

Bitcoin wallets developers share a mutual interest when building the cryptocurrency wallets we all use today.
Lots of companies use similar industry standards within the bitcoin wallet environment like deterministic wallet infrastructure, security features and more.

This weekend a large group of bitcoin wallet developers met at the popular bitcoin-accepting bar in Berlin, Room 77.
The Bitcoin Wallet Standards Initiative (S3ND) had wallet representatives from fifteen different platforms attend among other industry developers.

What do you think about the Bitcoin Wallet Standards Initiative?

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[JanpriX]

I think its a good thing that some people and taking this initiative and putting this onto themselves to provide a community-standard policies concerning bitcoin wallet. We all know that a bitcoin wallet should have security features in its priority lists but some of the developers don't focus on this sole feature because they are focusing more on unique features that will separate them from other wallets. With this initiative, standard features will be emphasized more. The users can also check this Bitcoin Wallet Standard (when it is finalized) to see whether their future wallet is compliant to the standard expectations of the community.

[amaclin]

source: https://xkcd.com/927/

[HCP]

source: https://xkcd.com/927/

You forgot the "/thread"

A truly classic cartoon... and sadly very true. I appreciate that they are trying to make things "better" for everyone, but human nature being what it is, trying to settle on one common standard and/or platform is going to be a next to impossible task.

Still, if it would happen, I'd be happy... I just spent an entire day this week attempting to get one particular software wallet to accept the HD Seed generated by another software wallet... but for "security reasons" they decided to implement their own seed generation algorithm... To complicate things, the desktop version of the wallet had a nifty little "use BIP39 seed" option, so that worked OK, but the Mobile version did not... and there is no way to convert the seeds (or generate the seed from the xprv).

So my only remaining option would be to send all the coins from my current wallet to the new one and lose all my transaction history.

[davidmccoy]

Security and standardization is important. Security is a continuous process. Nothing is 100% secure in the current cyber world. It is must for the dev. to consider the security as heart of Bitcoin Wallets designs and standards.

[mynhpark]

Sure, human nature has a lot of variety. So, defining a standard is always hard. Any more comments on it?