BIP38 (Bitcoin Improvement Proposal 38) is a standard for encrypting private keys of Bitcoin and other cryptocurrencies with a password, converting them into a 58-character string protected against brute-force attacks through the use of the scrypt algorithm. This makes them safe for storage in paper wallets or as physical bitcoins and allows the key to be recovered only by knowing the passphrase.
It was proposed to enhance the security of physical bitcoins and paper wallets, ensuring that unauthorized parties cannot access the funds without the password.
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