BIP-39

This design contains all the Bitcoins that have ever been and ever will be created. BIP39 is an update Bitcoin network implementing the mnemonic phrase used to generate a seed (seed phrase) for a hierarchical deterministic (HD) wallet. It is a list of 2048 common English words that can be combined to create a 12, 18 or 24-word seed phrase used to derive the private keys needed to access the Bitcoin in the HD wallet. BIP39 is crucial to the security of a Bitcoin wallet as it provides a convenient way to memorize a long and complex private key in a more human-friendly way, while also allowing for multiple backups to be made and stored in different locations.