Quote from: piotr_n on August 31, 2014, 04:59:54 PM

Quote from: virtualmaster on August 31, 2014, 04:15:28 PM

Just a question.
The password-seeding uses a known algorithm like that from elektrum or armory or it is an own schema ?
Thanks.

The default type 3 is my own schema. It goes like this:

Code:

seed_key = SHA256(SHA256(password)) /*the master seed*/
for n:=0; n priv_key[n] = SHA256(SHA256(seed_key))
seed_key = append(seed_key, byte(n))
}

Type 1 and 2 are also my own schemas, though they use different algos.

Thanks for the answer.
Having compatibility with a known schema has the advantage having additional security if the wallet development abruptly disappears or some bugs appear making temporary unusable the software.
It is also more flexible if I could use for ex. elektrum and combining sometimes with gocoin just generating the seed containing my coins.
For example armory is a little bit heavy but I can generate a tree quickly from my seed with a brainwallet(for ex. brainwallet.org supports it), receive payments on the generated tree addresses and later I could import the seed in armory.
A different, new schema could have sense if presents some advantages which balances the lack of compatibility.