since Im a new member on these forums I'll post my reply to https://bitcointalk.org/index.php?topic=35907.msg442672#msg442672
in this newbie section.
I think the idea i a valid one, but the implementation seems ... well... not really implemented correctly.
Note: I've only seen the above post and the image presented there. http://i54.tinypic.com/jadlpw.png"It total scrambles your wallet.dat in a single or combination of Encryption algorithms and a option to compress the encrypted wallet. It uses a pass word pharse to Decrypt the wallet and restore it back to its original state. Nothing real special but handy never the less. Full source code will available after releasing the first version(I need to setup a git account)."
You write "a single or combination of Encryption algorithms
", but you only list one (1) encryption algorithm and thats the old RC4.Why RC4? Why not a modern and efficient algo like for example AES? And what other algos will you implement?
The rest are hash algos, and thus cannot in any way encrypt the wallet.dat file. They are however listed under "Encryption choices" in the images, and that scares me abit.
Since you write that WalletCrypt scrambles the wallet.dat file, I just wonder how and how is the passphrase actually protected?
If we overlook the (scary) fact that you list SHA as a encryption algo, I wonder wich SHA function you use according to FIPS PUB 180-3 (SHA-1, SHA-224, SHA-256, SHA-384, or SHA-512).
Thanks in advance.