Re: NEM Official Thread - NEM is launching![Updates&Discussion]
private keys are set lengths because of the algorithm that is used to convert them into an address. nems wallet files/private keys work in a much different way to brain wallets. you cant use a private key unless it is the right length and only using alpha numeric codes.. the password for your wallet file will use a password and for that, there is nothing wrong with using a very long password to encrypt the wallet file which would most certainly add to security. the difference being that with brain wallets you dont need the wallet file. this means with wallet files someone would actually have to get into your computer to try and crack the wallet file appose to just booting the client and trying passwords. the odds of someone guessing your private key is so small that it doesnt need to be any longer afaik.
Thanks for the answer. But I'm not sure if I get it right;
without the access to the wallet, private key has no use?
i.e. cannot someone keep generating private keys and try to login with them, while using a generic wallet?
a wallet file just stores encrypted private keys.. thats all its really for as far as i know.. if you have the private key you can easily generate a wallet file. someone can try to do that to look for funded accounts, and it is possible but so unlikely it will probably never work.. if it worked, people would have been doing that to bitcoin for years but iv never heard of anyone ever actually having done it.. someone else will have to step in with the maths on this..
