What is the Derivation Path?
Derivation path When importing/deriving a wallet from the 12/24 words of the recovery phrase, a set of computer instructions is needed to define the way in whSome readersWhat are private keys? How do they differ from the recovery phrase?
First and foremost, it is important to note that both the private key and the recovery phrase are sufficient to access an address on the blockchain and operate the funds it may hold. In other words, this is information that should never be shared. Now, although having either one ensures access to the funds stored in an address, there are substantial differences between the two, which are related to the cryptographic system that ensures the security of account creation in blockchain technologyFew readersWhat is a recovery phrase, seed phrase or mnemonic?
What is The recovery phrase or mnemonic is a phrase composed of 12 —sometimes 24— words arranged in a specific order (usually in English). When creating a wallet, these 12 words are given to the user to be backed up. It is essential to store these 12 words in a secure place, preferably on paper or in a location without internet access. This information will allow you to access your cryptocurrencies. The security behind the recovery phrase When creating a wallet, these 12 words aFew readers