Notes on the Ethereum Classic Summit 2017, Hong Kong
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Cryptocurrency and token wallets are pretty simple. However, distilled to its essence, a crypto ethereum classic summit is just a private key. Similarly, the most annoying part of using crypto wallets for users is being nagged by wallets to write down your private key.
Write it down in the wrong place and you also lose your coins! Just look at the process of getting started with MyEtherWallet:. No ethereum classic summit than six on-boarding screens, with a password, a private key, and a file to keep track of to boot! Blockstack is a new internet for decentralized apps that is a layer 2 protocol on top of Bitcoin. One of the really cool things about Blockstack as both a user and developer of applications is that users are on-boarded with a hierarchical keychain.
Each application that a user signs into receives a unique key, the application private key, derived from the private key of ethereum classic summit identity address. All of these keys are backed up by a single keychain phrase. We can use application private keys for rapid development of all sorts of apps that use cryptography. Read my walkthrough of the sign in process here Next, we wrap the private ethereum classic summit in a buffer. Developers win by having to write less code ethereum classic summit design fewer interfaces.
Users win with a one-click on-boarding process and no more additional private keys to remember. With this code, the user gets the same Ethereum address generated each time she signs in. This makes it easy to restore her wallet if she ever loses her computer by entering her word keychain phrase the Blockstack Browser. But what if we want more than one wallet? Blockstack gives us a couple options. One option is to use the app private key as the root of a hierarchical deterministic wallet and derive more addresses from it.
Thanks to Aaron BlanksteinJude NelsonPatrick Stanley and everyone else that provided feedback on drafts of this post. Slack made platform changes ethereum classic summit let you steal the identities of other users. A behind the curtains look at how we use decentralized Blockstack IDs and social media account proofs to make sure registrants are real humans.
MyEtherWallet has so many on-boarding screens I had trouble fitting ethereum classic summit in one image. The Blockstack Ether Wallet sign in process Creating multiple wallets With this code, the user gets the same Ethereum address generated each time she signs in.
Swimming with a System January 16, Swimming every day with a system.
