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Author Topic: Deterministic wallet as hash(seed+index) is that OK?  (Read 1344 times)
Kazimir
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August 22, 2014, 10:04:35 AM
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Would it be OK from a technical and security point of view, to have deterministic wallet like this:

1. Randomly generate one initial secret seed. For argument's sake let's say this has 'enough' entropy.

2. Generate private keys as hashes from this seed + a counter. 'Hash' could be SHA256 or SHA3-256 or a HMAC or preferably some 256-bit KDF.

Other than the disadvantage of not having type 2 determinism (ability to generate subsequent addresses without having to generate their corresponding private keys first), is there anything bad, wrong, or flawed with this approach?

In theory, there's no difference between theory and practice. In practice, there is.
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dabura667
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August 22, 2014, 10:50:30 AM
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You just explained how hardened keys work in BIP32.

Yes, you can do this.

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