Author: Jonas Schnelli 2015-06-20 10:11:41
Published on: 2015-06-20T10:11:41+00:00
The author of the message expresses concerns over HD chain standards like Bip43/44, saying that while they are meant to allow users to use different wallets with the same seed/wordlist, in practice, wallet re-importing or re-creating can be risky and result in missing out on spent or spendable coins. The author argues that a user's non-blockchain metadata cannot be recovered through an HD seed recovery, which is only meant for disaster recovery purposes, and that reimporting an HD seed is an expert feature that requires manual configuration.The author also suggests that creating deep level chains like m/a/b/c/d/e/f/g/h requires more CPU power to derive private key with a given seed or wordlist, and that users of hardware wallets like Trezor or Digitalbitbox may feel the required time when signing/deriving. The author questions whether standards of HD chain structures lead users and developers in the right direction, citing examples of wallets like Electrum and Breadwallet that do not follow the Bip39 standard or support Bip44. The message includes links to Bitcointalk.org and Github.com for further information.
Updated on: 2023-06-10T00:03:15.874126+00:00