Understand Ethereum wallet «Word seed»
When updating your old classic multibita bag in younger wallets, such as HD or electum multibit, you can notice the inclusion of a new concept: Word Seed. This term has become synonymous with Ethereum’s digital wallet standard and is widely used for all popular bags.
What is the seed of the word?
The word seed refers to a set of cryptographic words that serve as a unique identifier for the Ethereum direction. Basically it is the key to determining Ethereum’s balance, sending funds or other transactions without revealing confidential information such as private keys. Think about it as a fingerprint that verifies the credentials of your wallet.
How does the word seed work?
Ethereum has 34 words for each direction, divided into two sets of 16 words in each one (known as «words» and «prefixes»). The word seed consists of the first 32 words in the second half of both prefixes. This unique identifier is accustomed to:
1
Verify the credentials of your wallet : When creating a new wallet or updating the existing one, the seed is generated according to the private keys of the address.
- Authenticate transactions : To confirm that you are the owner of the Ethereum account, your digital signature (that is, words) you must coordinate the expected firm with the seed of your name.
The main differences between words of words
While both multibit HD and electrum support words of words, there are some differences:
* Multibit HD : Use a generated word seed depending on private keys. You can imagine it as a «time» password.
* Electrum : Also use a seed of a word, but it is dynamically generated for each transaction. This means that the seed must enter every time you send or receive funds.
Introduction of popular wallets
Many wallets, including HD and Multibit electrum, use the concept of word seeds to provide a safe and convenient user experience:
* Multibit Classic
: A separate word seed input is required during configuration.
* Multibit HD : generates a single word seed, in the first creation of the existing bag or update.
* Electrum : For each transaction, a single word seed generates dynamically.
Conclusion
Understanding Ethereum’s word seed concept has facilitated the movement of portfolios and transactions. Knowing what the word seed is, how it works and its differences with the introduction of other wallets, handling Ethereum assets, can enjoy a safer and more soft experience.