Post
Topic
Board Bitcoin Discussion
Re: All in one crypto digital wallet!
by
mk4
on 08/06/2018, 16:41:05 UTC
If i will be given a chance to do a project with cryptocurrency then i will be making an all in one digital wallet for all crypto that includes bitcoin and all altcoins using same wallet address...

A wallet which does create the same address for each crypto currency is not possible.
(Almost) each cryptocurrency does have its own address format.

What you might be refering to is a wallet which holds private keys for multiple cryptos derived from one seed. This is possible. And it does exist. Exodus is such a wallet.
But note that quite a few people have connection issues when using exodus. It also just had a vulnerability discovered which allowed an attacker to dump the private keys out of the RAM once the wallet was opened. I am not sure about which versions are affected.

The ledger nano s does also support multiple cryptocurrencies. And in addition to that the private keys (and the seed generation) are secured by a secure element and a 2-FA through the buttons/screen.
Once they release their native application, you will be able to monitor all your holdings in a dashboard.
It is only a good concept if possible to make a project like this because if this will be possible then it would be a revolutionary digital wallet for all cryptocurrency. As we all know that technology nowadays are really good and sometimes we could not go deeper on it and the only expert can tell us if this is possible. We are digital nowadays so there could be an application and i was thinking also of a conversion to all digital wallet who had been created will be connected and link together for a unified digital wallet. This will be awesome for sure.

I'm going to say it again for bob123. Thought it's a good concept, it simply is not possible. You can have only one address for all ERC20 tokens, but nothing else. Most coins differ in architecture. It doesn't take an expert to know that this isn't possible. The best we could have is a wallet like exodus like bob123 said, whereas you use one recovery seed for all coins/tokens; which is good enough in my opinion. Why would you want one address for every single coin/token anyway? Though it may be more convenient, it's a huge privacy headache.