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No, the tool works like a brainwallet. The seed phrase determines the ethereum public and private keys. That way there is nothing else to save, no file backup i
by ibarrac 8y ago
No, the tool works like a brainwallet. The seed phrase determines the ethereum public and private keys. That way there is nothing else to save, no file backup is necessary. Knowledge of the seed phrase is sufficient. That's a feature, not a bug.
It is not like gpg where the private key is independent, stored on disk and encrypted by the passphrase.
The user messed up in that he didn't understand that he needed to use a strong passphrase or it was possible for anyone in the world to guess it.
- Buge 8y ago>No, the tool works like a brainwallet. Are you saying that is a good thing? It's well known that brainwallet is a footgun. https://en.bitcoin.it/wiki/Brainwallet https://en.bitcoin.it/wiki/Brainwallet >An early old-style brainwallet was created by by memorization of a passphrase and converting it a private key with a hashing or key derivation algorithm (example: SHA256). That private key is then used to compute a Bitcoin address. This method was found to be very insecure and should not be used. Humans are not a good source of entropy.
- ryan-c 8y agoAny tool that allows that mistake to be made is badly broken.