The earliest storage form of Bitcoin is plain text. In the early days of Bitcoin, private keys were stored in plain text in the wallet.dat file on your computer's hard drive, with no password protection and no way to import and export private keys.
The earliest storage form of Bitcoin is plain text form. In the early days of Bitcoin, private keys were stored in plain text in the wallet.dat file on your computer's hard drive, with no password protection and no way to import and export private keys.
There are a lot of security risks in this storage method. Early Bitcoin wallets were non-deterministic, meaning that each Bitcoin address and corresponding private key was randomly generated. This method of storage did not provide effective security measures, and the situation did not improve until core developers began submitting BIP (Bitcoin Improvement Protocol).
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