Support for over 2000 unique wallets on BC VAULT
BC VAULT gives you the possibility to store more than 2000 unique wallets, each encrypted with different passcode. Early in development we considered using deterministic wallets, but the idea was discarded for a multitude of reasons. We’d like to go in depth about why we chose not to use deterministic wallets:
Benefits of deterministic wallets:
- Nearly unlimited deterministic hierarchical wallets
- Trivial to backup
Shortcomings of deterministic wallets:
- All private and public keys are mathematically related and can be traced to one user
- Should a malicious actor steal your backup, he has access to ALL CURRENT and FUTURE wallets created on the device.
- Difficult for developers and users, having to go through a non-trivial account discovery process each time the user wishes to do anything
Based on this information we decided to forgo deterministic hierarchical wallet generation in favor of Anonymous Independently Encrypted Private Keys. Not quite as catchy, but has some important benefits for users:
- Very easy to use for a normal user
- Very easy for services to implement direct support (just a public key, no account discovery)
- Each wallet can be individually encrypted
- Backups can be easily encrypted
- Wallets are not traceable to a single source
We are committed to making BC VAULT the safest, most private, and easiest to use hardware wallet on the market.