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With BIP38 we can also generate an intermediate code (or passphrase code) and give it to untrusted party to generate encrypted key/address but not be able to decrypt the key without the passphrase.

This intermediate code can be used to generate any number of encrypted keys by the untrusted party.

So my question is, is it safe for the untrusted party to save this intermediate code and re-generate new encrypted keys using the same when it's run out of keys?. Is this intermediate code more vulnerable than bruteforcing the encrypted key to guess the passphrase?

Of course there's a possibility of the code getting hacked and changed with some other code which if used would generate encrypted keys not belonging to the original user but consider that's been taken care of.

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  • The 6) Extended "EC Multiply Mode" BIP 38 CLI Example Set: might provide a working anchored context for your question. Rephrasing your question, how much can "EC Multiply Mode BIP 38" be trusted if the engraver/minter is not behaving properly concerning step 6A?
    – skaht
    Jan 17, 2017 at 23:49

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