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24 secret words not forward compatible - lost assets!

It's important to understand that the discrepancy you're encountering is not necessarily due to an issue with the 24-word mnemonic seed phrase system, but could be linked to changes in the wallet software itself.

Different wallet versions might generate distinct addresses using the same public key, which doesn't imply that the underlying cryptographic security system - in this case, elliptic curve digital signature algorithm*** (ECDSA)*** - is compromised or not "future-proof".

The issue might lie with the wallet applications, which might not give the option to select the wallet version.

If you're concerned about verifying the balance across all addresses linked to a specific mnemonic, you could attempt to generate all possible wallet types using your public key and then inspect the assets for each of the corresponding addresses.

The phenomenon you describe, where the same mnemonic seed doesn't restore the original wallet, could also be due to changes in wallet software, rather than a fundamental flaw in the mnemonic system itself.

Posted 7 months ago

You are confusing some concepts here. Elliptic curve digital signature algorithm*** (ECDSA) is to protect the asset holder from 3rd party theft. I am not taking about that. What I am talking about is worse. It is like losing the password to your encrypted vault. Only this time it is due to sloppy programming of the wallet. The ONLY reason for the existence of a wallet, is to allow the owner to access its funds, like always. Now and in the future. Say in 5 years. Fail that, is failed wallet.

Michael   7 months ago Report
0 Answers
7 months ago
7 months ago