Author: Chris Pacia 2014-11-18 22:33:12
Published on: 2014-11-18T22:33:12+00:00
In an email conversation, Pieter Wuille explains that any wallet that offers functionality beyond maintaining a balance and sending coins is bound to have privacy loss. However, HD wallets offer the advantage of separating secret data and public data. The master secret key needs to be backed up safely, and all other keys can result in only privacy loss and not lost coins if lost. In the context of upgrading to stealth, it is risky for users to lose metadata and coins if they don't manually back up their transactions or use centralized cloud backup services. This is not the case if OP_RETURN is utilized for storage.
Updated on: 2023-06-09T14:17:33.712937+00:00