The art of mnemonics
4 years ago, the world was introduced to the new standard — BIP-39, however, we are still stuck there. Stuck with the 2048 word list. Stuck with the pressure of buying $200 steel plates (and if the plate is stolen so is all your money) because who can be bothered to memorize 24 words? What if there was a new way. A better way. Ladies and Gentleman, I introduce to you, the Bitfi way.
One of the methods that Bitfi recommends to set your phrase is using the Diceware method which has a wordlist of over 7776 words with only the need to memorize 7 words (its up to you if you memorize these words or write them down). Now you must be thinking, 2048 to the power of 24 is higher than 7776 to the power of 7. Well, Bitfi has a special trick up its sleeve. The words are all case sensitive. That means the word “england” can be written “England”, or “eNgland”, or “ENgland” etc etc. As you can see that all makes cracking your phrase infinitely harder.
By now you must be impressed but let me further blow your mind — Bitfi allows you to enter any special characters along with the Diceware words and also to type in the words any way you like, for example, the word “Super” can be written as “$uper” (this is unlike every other hardware wallet that selects from a list of 2048 words, each written in lower case so a computer trying to crack the mnemonic phrase simply needs to parse combinations of these exact words). This is what we call, cold-blooded innovation. How long will this take an NSA computer to crack? Let's assume each word is seven letters long. That’s 128 combinations due to capital letters. 128 * 7776 is 985,600. 985,600 to the power of 7 (7 words) is 903,451,542,555,574,016,856,336,280,928,888,952,888,544. That's how many possible combinations there are without special characters. An NSA computer does 1 trillion calculations per second. 903,451,542,555,574,016,856,336,280,928,888,952,888,544 / 1,000,000,000,000 is 903451542555573824251337113600 seconds and each day contains 86400 seconds. That means an NSA would potentially need 28 sextillion years to crack your phrase without special characters (28,000,000,000,000,000,000,000 - to put this number of years in perspective, it is several trillion times longer than the age of our planet and a few trillion times longer than the age of the universe).
But 28 sextillion years isn’t long enough right? Well, Bitfi has you covered. You see, your spectacular brain can further secure each phrase you generate. In the nerdy world, we call this a “SALT”. You can choose any piece of information you want, your name, your email, your birthday, your social security, or even just a random word and that “SALT” adds another layer that needs to be cracked. That means that even if your phrase is compromised, no one can access your funds without having to crack your “SALT” too.
Another crucial part of Bitfi’s mnemonic system is the fact that the words are so easy to remember. This allows Bitfi to enforce a policy of never keeping any critical information on the device — this means that if your wallet is ever stolen, the thieves won't get a dime out of it. To show you just how easy Bitfi phrases are to remember, let’s compare it to a 24-word phrase. What’s easier to remember, this: “now dice sense observe become add that crunch enrich brick grocery wire avoid trigger buddy snake tank link pony crash battle pigeon nose police”, or this: “I like Blue Lollipops$$$ & special Rainbows” (in this example we are not using the Diceware method, rather a user created personal phrase). Keep in mind the fact that the latter is infinitely harder to crack than the former. I know, mind-blowing.
Bitfi isn’t just a piece of innovative technology. Its a fantastic piece of art that revolutionizes wallet security and usability and Bitfi is proud to pioneer this technology into the future. Welcome to the future of Blockchain.