BIP 32 Watch-Only Wallets

Written by wagslane | Published 2020/03/04
Tech Story Tags: cryptography | security | bitcoin | encryption | key-encryption | passwords | wallet | crypto-wallet

TLDR BIP 32 Watch-Only Wallets allows you to create a tree of keys from a single seed. Watch only wallets are perfect for users who want a wallet to receive new coins easily but don't want to spend regularly from that wallet, similar to a savings account. HD wallets (Hierarchical Deterministic) made the backup process a lot easier and safer and safer than using the same address again and again. A full watch-only wallet is much better and safer. This is because using new addresses enhances privacy.via the TL;DR App
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Written by wagslane | Founder of Boot.dev. Whining about coding sins since 2011. Committing coding sins for the same.
Published by HackerNoon on 2020/03/04
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