Path, Single-Address and Cold Wallet

ChainBow Wallet was released version 0.9.9 this week and it begin to support wallet paths, single-address wallets, and cold wallets.

Wallet Path and Single-Address Wallet

When importing Mnemonic Phrases, you can import an existing wallet, such as Simply Cash, and specify the wallet path.

It supports single-address wallets such as NOTE.SV.

The single-address wallet derives a unique address from the path and uses the same address for all receipts, payments, and changes. Single-address wallets may a little of privacy risks but are sufficiently secure. Ethereum basically uses single-address wallets.

Cold Wallet

For users with a large amount of BSV, it is recommended to use a cold wallet. Including SimplyCash’s cold wallet.

When creating an account, choose to import Xpub and fill in the Xpub provided by the cold wallet to create a watch-only wallet. A Watch-only wallet requires the cold wallet to cooperate with signatures during transfers and other operations.

The users’ guide for cold wallets will be up soon.

Advanced

BIP39 is the wallet agreement for using ChainBow Wallet.

The missing path is m/0', which means one chain for all.

The standard of many multi-chain wallets is BIP44. This upgrade supports the import of BIP44 mnemonics and paths.

Single-address wallets follow BIP32.

Plan

The official version 1.0 will be up soon.

The upgrade and download website: https://ChainBow.io

Please note that this is still a beta version, do not charge too much BSV. Feedback is welcome.

Reflection

Will the tragedy of the commons occur due to the continued low BSV price and blocks with increasing size?